Eight innovative examples of IoT in retail

Smart retailing promises to overcome these challenges in terms of revenue growth, cost reduction and business process optimization, bringing unprecedented benefits to retailers and their customers.
With the development of the Internet of Things, the retail industry landscape has undergone tremendous changes. With 70% of retailers believing that IoT will significantly impact the way they do business in the future, it’s no surprise that the IoT retail market is expected to be worth $182.04 billion by 2028.
Consumer habits, high pressure on delivery services, buyers' mistrust of online shopping or inability to use technology are all factors that bring customers back to shopping in an environment where they could have thrived. Smart retailing promises to overcome these challenges in terms of revenue growth, cost reduction and business process optimization, bringing unprecedented benefits to retailers and their customers. GPRS-модуль
Here are 8 innovative use cases of IoT in retail.
1. Facility management
One of a retailer's greatest day-to-day responsibilities is keeping its store clean, comfortable, safe and looking good. There are many IoT technologies that can help simplify these tasks and reduce the associated costs.
For example, people count data combined with presence detection data can identify frequently used areas to better manage sanitation and cleaning programs. With the help of wireless IoT sensors, facility managers can also proactively monitor for low supply of consumables at store entrances and throughout the store for effective inventory management and timely replenishment.
In terms of customer comfort as well as operating expenses and sustainability, energy management can now be easily optimized with environmental sensors that monitor temperature, lighting, ventilation and cooling. This environmental data can identify key energy consumption drivers and provide a panoramic view of energy consumption patterns, abnormal energy consumption by faulty equipment, if any, and underutilized or overutilized infrastructure and wasted resources.
2. Passenger flow control
Since the start of the COVID-19 pandemic, retailers have been asked to impose new limits on the number of customers in their stores to ensure compliance with government social distancing rules. People counting systems can help track the number of people entering and leaving any given area in real time and alert store managers when capacity thresholds are reached.
3. Customer behavior tracking
Occupancy sensors can provide basic data on store traffic patterns and dwell time in specific merchandise areas. This data can help retailers better plan in-store sales and lead sales through more efficient display setups, aisle layouts and space allocations. Such data can also be used to monitor checkout line wait times to provide better customer service through increased staffing or additional self-checkouts.
4. Supply chain and logistics
IoT provides unprecedented visibility into shelf, shipping and warehouse inventory to help retailers increase efficiency, reduce costs and ensure an exceptional customer experience. There are a variety of IoT sensors that can provide a coherent stream of real-time data about the exact location of an item, the time it takes to move between different stages of the supply chain management lifecycle, and even the speed at which a particular delivery truck is traveling. This helps identify bottlenecks, develop contingency plans, and identify alternate routes to expedite deliveries. It can also help suppliers, manufacturers, and distribution centers be better prepared to receive shipments, reducing handling time.
5. Cold chain monitoring
The spoilage of perishable food has led to a significant loss of profitability in the retail grocery industry, costing retailers an average of $70 million per year due to spoilage alone. Environmental sensors can track environmental conditions such as temperature, humidity, air quality, light intensity and other environmental factors within a storage facility, cargo container, delivery vehicle or store to protect perishable goods, ensure optimal freshness and reduce waste.
6. Asset Tracking
Beyond the supply chain, wireless IoT sensors can be used to track in-store assets such as shopping carts and baskets. From costly theft to time-consuming searches, shopping carts can be a retailer's biggest headache. The fact that shopping carts range in price from $75 to $250 each makes it crucial to make sure they are well placed and in good condition. IoT sensors can help pinpoint the location of scattered shopping carts and activate an automatic locking system on the wheels if pushed too far. Not only does this prevent theft, but it also ensures that there are always enough trolleys for customers. Тестовые наборы
7. Personalized shopping
IoT devices are also being used to personalize the shopping experience. For example, Bluetooth beacons can send store offers in real time to the smartphones of nearby passers-by. Such information can entice potential passers-by to enter the store and take advantage of the offer, as well as let in-store customers know about personalized discounts, special events or other information.
8. Smart shelf
Another innovative example of IoT in retail is smart shelves. Retailers spend a lot of time and effort tracking items to ensure they are never out of stock and that items are not misplaced on unrelated shelves. Smart shelves automate both tasks while detecting potential theft. Smart shelves equipped with weight sensors and RFID tags can scan display and inventory shelves for merchandise to notify staff when merchandise is low or misplaced. Not only does this save time, but it also eliminates manual errors that lead to overstocking and shortages.