IoT for retail is becoming the most important criteria. Brand strategies believe that people remain loyal to certain brands because of the customer experience they have had with them. If you are working in retail and you want to leverage the popularity of your brand and get first time buyers to become return customers, you have to offer them an excellent retail experience.
With the advent of technology, there is no better way to scale your customer experience than investing in the Internet of Things. IoT makes a network between physical devices that are connected by the internet. It is estimated that by the end of the decade, there will be more than 30 billion IoT devices on the planet. So, how can these devices improve the customer experience in retail?
Recording Shopper Analytics
One of the best ways to grow your retail business is by learning from your customers’ shopping habits. Currently, many tools collect, analyze and classify customer data. While these tools might be doing a good job of predicting consumer spending habits, a lot more can be achieved by IoT.
Imagine a situation whereby the moment of customer walks into your store, and their smartphone pings, directing them to the location of the shirt they had looked up online. Then, your in-house devices record all the stalls which the stops at and sends data about his preferences to your system. AS the shopper leaves your device update the inventory, telling you what stocks to update.
One of the parts of the retail process that most people admit they find annoying is queueing to pay for the items they bought. Queueing also becomes a necessity during holidays when there are sales and when everyone is trying to shop for Thanksgiving and Christmas.
With IoT, customers will have an easier time locating what they need and checking out, reducing queues in the shop.
Retail and warehouse management depends on how efficiently you can keep customer records. Sometimes, recording means getting which customers to target when launching a new product, and which product to bring in mass proportions. IoT helps you count and categorize loyal and erratic customers. This will inform your purchase and other decisions.
There are just three ways that you can use IoT to improve your retail experiences. If you need assistance incorporating IoT into your retail shops. If you learn more and implement retail technology trends in your stores, contact us.