Retail is experiencing major disruption as the balance of influence shifts to the consumer. Empowered customers, active competitive landscape, new commitment models, disintegration in the industry, and a developing technology landscape have created turbulent conditions for all players. The key to maintain leadership lies in making “Meaningful Customer Experiences” and associating with customers at each step of the journey – transcending virtual and physical boundaries.
Retailers are embracing IoT solutions through a number of applications that helps in improving store operations, theft reduction, increasing purchases through cross selling, allowing precise inventory management, and most significant to improve the consumer’s shopping experience. The IoT is allowing physical retailers to strive more strongly against the online challengers, to recover lost market share and continually attract customers into the store, thus creating easier for them to buy more while saving money.
Evoort’s retail IoT solution allows to rapidly implement required applications for tracking goods with RFID tags, ensure items on-shelf availability, utilize Bluetooth beacons to provide customers with personalized mobile shopping experience, and set up digital signage in the store to attract visitors and help them navigate through your products, discounts, and loyalty programs.
The Internet of Things technology provides retailers with powerful new insights into the nature of customer experience, brand value and dwell time, shop path, etc.
IoT tools can enable retailers to better understand their customers and market, allowing them to react quickly.
Sensors, tags and smart devices allow retailers to track the movement of customers and staff through WiFi, Bluetooth, Beacon, etc. Track realtime stock levels with RFID tags and system warnings to remind workers of low floor stock.
Retail analytics help to calculate investment returnsacross different aspects of business management.
IoT – enabled retail system offers a stock – wide inventory of precision and real – time. Supports reordering and rearranging events in good time.
Offer mobile point of sale for faster checkout and endless aisle capabilities.