The integration of IoT solutions will help retail companies create successful marketing campaigns based on CRM, deliver high-quality services, enhance inventory management, and reduce operational costs.
FREMONT, CA: The retail industry is seeing a rapid transformation, with IoT solutions taking center stage in the sector. Having plenty of applications, IoT helps increase customer loyalty, increase sales, offer a personalized experience, and enhance inventory management. Over the past years, the conventional retail landscape has dramatically changed, enabling companies with innovative opportunities to collect and analyze data and ensure successful targeting across various channels.
There are several ways in which the retail industry use IoT technology. At present, sensors are being used to monitor customer satisfaction, provide supply chain insights, monitor food safety, and track assets.
CRM
Retailers are using IoT technology to increase customer satisfaction. IoT sensors connected to a set of color-coded buttons allow stores to collect customer feedback immediately after the shopping experience. This data provides real-time, shopper satisfaction insights that can improve in-store customer experience.
Asset Tracking
Retailers are using IoT technology to track lost shopping carts and baskets. Tracking these assets can help stores reduce the cost of having to replace them. By placing sensors on assets like shopping carts, retailers can track them to their exact location and receive status updates and alerts if they're damaged. Tracking devices, installed on carts and baskets, function indoors and outdoors and can run for months or even years without having to replace the batteries. These sensors help retailers improve customer experience by ensuring they always have enough shopping baskets and carts available for shoppers.
Supply Chain
Supply Chain IoT sensors are being used by retailers to monitor goods throughout the entire supply chain. Tracking systems report valuable data such as location, temperature, humidity, shock, and tilt, providing insights into quality control and traceability. Tracking solutions help determine if materials are safe, delivered on time, and transported in ideal conditions. All the data that help retailers make their transport logistics more efficient, reduce product damage, and avoid loss.
See also: Top Retail Consulting/ Services Companies
Read Also