Technology doesn’t wait for retailers to catch up. Consumers embrace new technology and aren’t impressed by retailers who don’t. This year, smart retailers are creating ‘smarter’ stores with the Internet of Things (IoT) reinventing the way they think about retail.
With IoT, a huge number of devices can be connected – with everything from Point of Sale systems to dressing rooms doors, able to connect. Microsoft have already tried to add a human touch to this phrase – describing it as ‘the internet of your things’ – and it’s this personalised approach which sums up how IoT should be for consumers.
Plus, for retailers, it’s about how your ‘things’, or in other words, technology, can connect to provide a better experience for your customers.
One example of how IoT is already providing a better experience for customers and better data for a brand is Disney. The park has RFID-enabled MagicBand wristbands that provide theme park access, entry to hotel rooms, and cash and card-free payment for food and any merchandise. Disney is able to track this activity to build an accurate picture of how each guest uses their services.
From Disneyland to high-tech highstreets, here’s how this new technology will reinvent retail.
- RFID (Radio-frequency identification) tagging
- Connecting home automation to ecommerce sites
- Wearable technology – for retailers and consumers
In store, both shop assistants and consumers will have the information they need. Shop assistants could have access to further product information, stock levels, as well as customer data. Shoppers, on the other hand, could have an enriched in-store browsing experience, with extra information, navigation and promotional offers.
- In-store sensors
Picture the scene – an existing shoppers walks past your store, your in-store sensors would allow you to send that customer a personalised message about a promotional offer you are running in store. Once inside the shop, you can target shoppers based on their shopping and browsing history. This could not only enhance the customer’s experience and boost a retailer’s marketing efforts, but provide a wealth of path-to-purchase data, which can be used to optimise store layouts.
- Smart mirrors in fashion retail
Overall, IoT looks set to begin a new, more data-driven age for retail. With connected devices, retailers can analyse shopper behaviour, as well as their own performance with greater accuracy and offer a more responsive and personalised service. Find out how we can help you prepare for a world of connected shoppers and devices on our omnichannel page.
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