- What you will discover
- Retailers’ IoT environments usually span across locations including multiple stores and warehouses that need to be connected to a data center or cloud service provider in order to run applications and perform analytics.
- While some innovative market leading retailers are likely to invest heavily into IoT, there are still many players (around one-third of large retailers globally) without an IoT strategy and have yet to budget for these technologies.
- Small and medium-sized retailers tend to operate with smaller IoT budgets, with the majority currently not having an IoT strategy. However, this varies greatly by retail segment since those focusing on fashion-driven branded items including apparel, sports and also some electronics retailers are usually more experimental with IoT than grocers and hardware stores.
- The latest IoT hardware can enhance customers’ experience in stores by making it easier to find products and gain information about them. Technologies such as VR/AR, interactive digital signage and communication via beacons and mobile apps can boost brand image and lead to higher customer loyalty.
- The six big IoT market segments – each defined by its own characteristics: the automated home, the connected car, the industrial internet, wearable technology, smart metering, and connected stores.