(image credit – supplychain247.com)
Internet of Retail – Use cases to aspire for
With nearly all key players and industries pouring a lot of time and energy into the IoT (aka – M2M, Internet of Things, Internet of Value, Internet of everything) technology it is no surprise that Retail is not left behind.
From research, some worthy use cases are –
- Smart Warehouse – Automation and robotics driven by on-line and in-store shopping demand to optimise the fulfilment
- Smarter Stores – Connect insights from wi-fi and cameras to understand journey of shoppers and then optimise in store marketing to enrich customer experience and improve store performance
- Connected consumers – serving a connected customer who compares on-line prices before making in-store purchases by providing the on-line v/s in-store comparison while they are in store, plus rewarding loyal customers with exclusive offers
- Smarter logistics – With IoT it is now possible to track individual pallet and apply optimisations around route and stock levels (JIT – Just in Time)
In addition to the above, some examples where the boundaries are pushed even further are –
- Amazon Go stores – No more dreaded queues to the till, cashier less and friction less Ambient commerce (get ready for the millennials)
- In-Car shopping – Allowing cars to have digital wallets and shopping to be done from the car. A completely new area which can save a lot of time and money and provide better value for a trip to a friends house (e.g. travelling to Oxford? the car can tell you what Beicester village has to offer). Imagine where it can go with self drive cars
The fun does not stop here with Smart diaper, Quirky egg stock monitors and Jim Beam Decantars the retailers will know even before the customer comes to the shop on what to stock.
With all the above in play, there is no surprise that the retail leaders and evangelist in the space are creating communities and coming to gather at specialised events like ‘IoT in Retail 2019’ (https://iotinretail.co.uk) to remain competitive and make of the modern connected lifestyle.
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