Is IoT making the retailers smarter than ever before

Proven and compelling new ways to engage with the customer would surface which would assure
remarkable returns on investments consistently.
Channels for driving experience based retailing
IoT in retail must have ignited your hopes for a promising future. However, you may be
wondering about ways to harness the technology in your favor. IoT can be implemented through
numerous channels to build the bridge of trust with your consumers.
Physical stores which are increasingly becoming obsolete can be set up at particular locations for
a limited period to fulfill the needs of consumers if IoT devices have indicated a surge in demand
from those areas.
E-commerce sites can be integrated with sophisticated data analytics tools which would
scrutinize each aspect of customer behavior and provide feedback. The level of customization
can be taken to the lowest level of operation. IoT sensors would build a database of those items
which gets ordered more than the others allowing the same to be automatically replenished
through advanced order placing.
Another channel which would spell significant returns for retailers is social media. As a brand,
you can engage with customers to build their awareness about your endeavors and consequently
foster loyalty by collecting info about product/ service features that appeal to audiences the
most. The same can be utilized for driving focused sales in the niche segment.
Retail IT solutions available for apps in smartphones and other handheld devices also would
prove vital in redefining your customers’ experiences. More and more consumers are using
mobiles to place orders in online stores. With home IoT of customers connected to their mobiles,
your online store would automatically know when particular stocks start running out.
Accordingly, it would accept orders and deliver the goods. Payment would be deducted through
the trusted gateway authorized by customers. Such a revolutionary move would relieve the
burden on customers related to shopping for items for hours. Further, as and when newer and
cheaper alternatives would be available in the market, the same would be communicated to your
clients by the app. This would also ensure that customers don’t shift brand loyalties frequently
and your business sales are sustained.
Another channel where IoT driven sales can be fostered decisively is the public space which is
frequented by people. You can have your brand’s kiosks placed in shopping centers, parking
places, bus and train stoppages etc. NFC and QR barcode readers would allow customers to
interact with your shops through them. Since the IoT would allow information to be exchanged
between your shop and customer’s app, an order would be placed for delivery through barcode
scanning.