5 smart way IoT can change the retail industry

Internet of things (IoT) is considered one of the major game-changing elements today and the way the retail industry is growing the challenges to handle successful marketing campaigns, deliver high quality of services, improve inventory management and reduce operation cost is getting tough.

Over the past 20 years of dramatic change in traditional retails, IoT is taking the center stage in the sector and evolve as a rapid transformation in the retail industry.

One of the major concerns of retail industries facing today is to automate the complete retail process, Reduce inventory errors, Transform traditional brick-and-mortar stores to the online-first shopping experience and exponentially improve customer experience.

Real-time customer movement

 

Monitoring the traffic pattern and how customers behave in your retail store will empower you to improve flow-management and manage your inventory position more efficiently.

Instead of monitoring your customers using the camera in-person IoT can provide more accurate data of customer's behavior and movement.

Using RFID (Radio Frequency Identification) based token, sensors placed at every block of the store can trace the movement of the particular customer in real-time.

Google assistance based help desk

A lot of customers' time and energy is consumed on searching the items they are looking for and end-up with leaving the store.

Google assistance placed at the help desk can help customers to find the place of a specific product placed in the store's section.

Automated checkout

It is always trouble for a consumer to stay in a long queue. According to a survey this is a cause of 25% of abandoned checkouts.

Setting up a system to read tags in every product will make an automated checkout when a customer leaves a store, A mobile application integrated with the system automatically deduct the balance from the customer's valet.

Creating such an amazing system will make your customers happier, It will save a lot of money, time and staff requirements.

Allowing customers to ask for help

 

It is not possible to assist every customer in your retail store and It is required a lot of energy as a retailer to find out a needy customer.

A mobile application can allow customers to summon help in a store by pressing a button in an app, rather than finding a call station somewhere in the store.

Customer satisfaction monitoring

IoT has proved to help retailers provide customer satisfaction to a great extent. The IoT sensors have the capability to collect feedback quickly so you can work on them and provide a better customer experience.

On the other hand, Your mobile-first shopping application can also take detailed feedback on offline shopping after leaving the retail store.