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Internet of Things in Retail: Technologies and Usage Cases - Gainining Competitive Advantage through Better Understanding Retailers’ Business and IT Priorities

Internet of Things in Retail: Technologies and Usage Cases - Gainining Competitive Advantage through Better Understanding Retailers’ Business and IT Priorities

  • October 2016
  • 41 pages
  • ID: 5013093
  • Format: PDF
  • By GlobalData

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Internet of Things in Retail: Technologies and Usage Cases - Gainining Competitive Advantage through Better Understanding Retailers’ Business and IT Priorities

Summary
"Internet of Things in Retail: Technologies and Usage Cases", report discusses the benefits and challenges of IoT technologies such as RFID, Wi-Fi, Beacons, virtual reality, digital signage, robotics, drones and smart lighting. Usage cases by major retailers and vendors’ holistic solutions are evaluated, and advice provided regarding IoT implementations and how to successfully target retailers.

IoT offer retailers opportunities to collect and analyze increasingly granular data in stores and warehouses for optimizing business processes. Consumers’ increasingly connected lifestyles have contributed to the rise of IoT in retail by demanding better interaction in stores by utilizing the latest technologies, and the desire to make shopping a more personal experience based on customers’ preferences. IoT ecosystems provide full connectivity within the store to meet the customers needs and improve the customer experience.

Scope
- IoT in retail stores and warehouses includes various connected devices/end points that either collect data for analytics purposes and for running applications (e.g. sensors, cameras, beacons, RFID, smart watches), or act on data generated by the application in order to display information or interact with customers and staff
- IoT extends to back-end analytics, networks, servers and data warehouses that are required to generate actionable insight
- Machinery including robotics and drones, and smart lighting form part of the latest IoT deployments since they provide “smart” interaction or data collection for analytics with linkages to other devices or a central database, which may also use artificial intelligence

Reasons to buy
- Gain a deeper understanding of IoT technologies and their importance in retail, which is especially beneficial for IT vendors when pitching these solutions to retailers.
- Retailers’ challenges and technology choices are discussed, and useful advice provided for IT vendors regarding offering digital signage, Wi-Fi, beacons, RFID and other IoT based solutions.

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