THE FUTURE OF SHOPPING:

IoT APPLICATIONS IN RETAIL

This is MerchanX for Smart Retail

IoT is changing numerous aspects of the retail sector,

from customer experience to supply chain management.

BENEFITS
  • Elevate the consumer experience

  • Real-time promotions and interaction

  • Increased sales and reduced customer churn

  • Detailed customer segmentation for targeted marketing

  • Detailed analytics via admin back end

  • Indoor navigation guidance

  • Align goals with customer interest

  • Measure success of ad campaign

USE CASES

ENHANCED SUPPLY CHAIN MANAGEMENT

IoT solutions can help retailers get a comprehensive picture regarding the movement of goods from manufacturing to when it is in-store to when a customer buys it. The information gleaned—such as the time spent on transportation, or the temperature at which the product was being stored etc.—can be analyzed in real time.

BETTER

CUSTOMER SERVICE

IoT also helps brick and mortar retailers by generating insights into customer data while opening opportunities for leveraging that data. For example, retailer IoT applications can synthesize data from video surveillance cameras, mobile devices, and social media websites, allowing merchants better to predict customer behavior.

SMARTER INVENTORY MANAGEMENT

Inventory management can be a headache. Lack of accurate tracking for inventory can lead to stock-outs and overstock, costing retailers around the world billions of dollars annually. IoT can tackle these issues by automating inventory visibility. By applying smart inventory management solutions based on store shelf sensors, RFID tags, video monitoring, and digital price tags, retail businesses can enhance procurement planning. When product inventory is low, the system offers to re-order the adequate amount based on the analytics acquired from IoT data.

PERSONALIZED DISCOUNTS

If you have frequently returning customers, we bet you’d like to reward them for their loyalty. With IoT, you can set up sensors around the store that send loyalty discounts to certain customers when they stand near products with their smartphones, if these customers sign up for a loyalty program in advance. Additionally, you can use IoT to track items that a customer has been looking at online and send that customer a personalized discount once in-store.

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