Implementing the Internet of Things in Retail: Challenges and Opportunities

It seems that wherever you look retailers are talking about implementing new technology to stay a few steps ahead of their competition.

Though there are a number of ways to implement technology into a retail setting, many retailers are beginning to place more attention on the Internet of Things (IoT). Why? Because it’s beginning to change the way businesses connect with their customers.

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What are Smart Connected Systems and Why Should My Business Care? [Infographic]

By now you’ve probably heard about the Internet of Things or IoT. We’ve mentioned it in several of our previous posts.

But do you really understand what it is…and how you can expect to see it become a part of your life and business?

Postscapes collaborated with Harbor Research on an infographic to tell a more complete story about the Internet of Things. This infographic explains how “Smart, connected systems are a technological and economic phenomenon of unprecedented scale, encompassing potentially billions if not trillions of nodes — an Internet of infinite interactions and values…”

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The Internet of Things in a Retail Store [Infographic]

The Internet of Things (IoT) is the network of physical objects or “things” embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data.  -Wikipedia

So how can retail stores benefit from IoT? In the infographic below we share the most common types of “things” that integrate IoT technology and give a brief explanation of how retail IoT implementation can be a key to success.

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Using the Internet of Things to Your Advantage

If you have been paying attention to tech news in recent years, you have no doubt heard of the Internet of Things. If you haven’t been paying attention, fear not. Many of those who have waded through countless articles are still hard-pressed to come up with a clear explanation for the Internet of Things.

Luckily for both camps, we’re here to shed some light on the Internet of Things, and more importantly, how you can use it to your advantage.

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The Internet of Things As It Applies to Retailers [Infographic]

What is the Internet of Things (IoT)?  How can IoT be used in retail to improve efficiency and customer service?

The IoT is the sensors that are embedded everywhere combined with the technology that helps the sensors communicate in order to connect people and processes.

In the infographic below, we show how IoT is being utilized in retail stores and explain the most common opportunities and challenges.

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Surprise and Delight Retail Customers with a Smarter Store

We hear a lot about the Internet of Things (IoT) and we have provided definitions and offered suggestions for practical applications for the IoT in a retail setting. But when it comes to seeing how the power of the IoT can apply to everyday business, there is no better example of how it works than a day in the life of an article of clothing in a connected retail supply chain.

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5 Practical Retail Applications for the Internet of Things

Every day, we send information to this mysterious place known here on earth as “the cloud.” This information is shared seamlessly between connected devices as required, without so much as a second thought. Have you ever wondered how your iPad knows where you stopped watching that show on Netflix on your TV? It’s not magic, it’s just one example of the Internet of Things (IoT) in action.

That’s a lot of data going up into the cloud every day! Are you wondering if it’s too much to handle? More importantly, how can all of this data help retailers increase sales and improve the customer experience?

McKinsey & Company recently asked business experts, “What’s the one piece of advice for a business leader interested in the Internet of Things?” When you combine the wisdom gleaned from the McKinsey research with our own retail expertise, you get five practical uses of the IoT for retailers.

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How Useful is the Data Collected in a Retail Store?

How much data does your store collect every day? More importantly, how is that data used to help your store improve its sales, systems and services?

For many retailers, the answers to these questions are unclear. Does that sound like you?

The Internet of Things (IoT) is one of the hottest buzzwords in retail right now. In its simplest definition, it is the connection of one device to another. Usually, data (commonly referred to as “big data” because of how much information is gathered) is collected alongside this connection to improve retail store decision-making.

The question many retailers are now asking is, how useful is the data collected in a retail store and what type of data should you be gathering?

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Learn How Your Store Connects and Communicates

Your store is filled with sensors. In any given day, your store uses the Internet of Things to count people, send customers offers, track fitting room occupancy, call customer service associates, and so much more. As you collect this data, do you know where it all goes?

One of the most common questions we hear is, “can I connect different devices to my in-store systems?” The short answer: Yes!

Here’s a quick rundown of retail IoT technology connectivity and how to use the data you collect to boost your sales.
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What IoT Means for Retailers (You Have to See This)!

Ever wonder why you should care about the Internet of Things (IoT)? It seems to dominate conversations these days. As you start to notice this common theme floating to the surface you’ve probably found yourself wondering about what IoT means for retailers. Is it something you should pay closer attention to?

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