Amidst the e-commerce industry boom, there is still no match for the shopper experience offered by a “brick and mortar” store. The success of retail stores in engaging customers is far beyond the customer engagements offered by online retail stores. Internet of Things is one such technology which will transform the in-store experience of the shoppers. Shopping businesses will be able to combine and analyze data from different sources to deliver truly personalized and individualized engagements with the help of Internet of Things. In simpler terms, IoT will help in engaging customers when and where they are ready to engage.
Retailers are harnessing the power of Internet of Things to provide an ecosystem that connects the digital and physical world, allowing bidirectional, real-time interactions with consumers both inside and outside the store. Brands such as Lord & Tylor and Hudson’s Bay are using Apple’s iBeacon Technology and a mobile marketing platform called Swirl that delivers personalized promotions to customers who have downloaded the brand’s app.
IoT can facilitate tracking the customer’s movement across the store. Tracking customer path will help in improving store layout and merchandise placement strategies. Hugo Boss has deployed heat sensors in its clothing stores to track customer movements. This helps store managers to place premium products in high traffic areas.
The retail stores can have beacons located at multiple locations. These beacons renders information such as purchase histories, personal preferences and the number of visits of the customers. This information will help sales associates in assisting customers effectively and increasing sales.
Retailers can place tags on their products. The customers can scan these tags through a smartphone or wearable device to request product information, reviews or social media commentary. This will help the customers in making purchase decision swiftly.
Smart Shopping Carts
Internet of Things will help in equipping the retail stores with smart shopping carts. These shopping carts will help the shoppers navigate through the stores based on their digital shopping list. This will not only offer a premium experience to shoppers but significantly increase the sales for the store.
One of the hassles in shopping is the checkout process where the customers have to wait in queue for the billing. IoT will facilitate contactless checkout process where the products in the shopping cart can be scanned automatically and the customer can pay through online payment modes.
Internet of Things has unprecedented revenue generation capabilities for retailers as the technology will enhance the in-store experience of the shoppers promoting them to buy more.
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