Jeweller - May 2019

BUSINESS
LOGGING ON TO THE INTERNET OF THINGS
The internet of things can offer insights
into what customers really care
about. CHRIS PETERSEN reveals how
retailers can leverage this emerging
technology sector for a more effective
selling strategy.
The ‘Internet of Things’ (IoT) has to go
down as one of the worst-named product
categories ever. A recent study indicated that
79 per cent of consumers had no idea what
IoT stands for or what it means; however, the
path to purchase requires that retailers have
some understanding of what it is and the
opportunities it presents.
According to Wikipedia, a British entrepreneur
named Kevin Aston first coined the term
Internet of Things in 1999 while working with
radio-frequency identification devices.
Hard to believe that there wasn’t another
name but IoT seems to have emerged as the
catch-all term to describe any object that can
collect, share and transmit data.
The IoT is a network of seemingly-everyday
items like appliances, cars and even buildings
that are connected to the internet. These
devices can be connected in ‘smart grids’ to
monitor a wide variety of machines
and people.
The result is that IoT devices can churn out
a mountain of monitoring data, as well as
creating a seamless experience for the user,
group or business using them.
Each IoT object is designed to work in concert
with the others. For example, if a woman is
returning home from work, her car could
send a signal to her smart-home device,
which would then set the air-conditioner to
her preferred temperature so the house is
cool when she steps inside.
The garage door is also connected so it would
know when she is arriving and open just as
her car is pulling into the driveway.
Enter smart jewellery. Combining society’s
obsession with connectivity and style,
smart jewellery refers to an assortment of
rings, bracelets, necklaces and earrings that
aim to improve health, productivity and
communications, all while maintaining a
fashion-first stance. The latest iterations are
less gimmicky and more wearable, shattering
STORIES MAKE
PRODUCTS
REAL AND
RELEVANT TO
CONSUMERS.
WHEN
CONSUMERS
CAN’T SEE THE
TECHNOLOGY
OR FEATURES,
THEY NEED TO
SEE AND HEAR
HOW IT THESE
FEATURES ARE
PERSONALLY
RELEVANT
the notion that they can’t be worn daily and
making a strong case for the title of jewellery.
The IoT also includes wearable ‘smart’
jewellery, which combines society’s obsession
with connectivity and style. Smart jewellery
refers to an assortment of rings, bracelets,
necklaces and earrings that aim to improve
health, productivity and communications, all
while maintaining a fashion-first stance. The
latest iterations are less gimmicky and more
wearable, shattering the notion that they can’t
be worn daily and making a strong case for
the title of jewellery.
UNLIMITED POTENTIAL
Estimates predict that there will be 25-billion
IoT devices on this planet by 2020 – and this
estimate may be conservative. All of these
devices will be wirelessly connected to the
Internet of Things, each transmitting data.
There are untold uses for IoT and applications
for every industry. Devices could monitor
everything from manufacturing machines to
planes and track the movement of products
across every step of distribution.
May 2019 Jeweller 35