The new era of retail is in the horizon with the inception of IoT in retail and it is expected to re-define the way customers shop their products thereby helping store owners to serve their customers better with the most appropriate approach.
Keep your retail business innovative and successful by leveraging the potential of IoT technology. Find the absolute way to keep your business functional at all times.
Contactless data gathering and insights
To learn more about customer preferences, it is important to track the customers visiting your store and identify the areas of frequent visits made by any customer within your store. It gives useful insights on how a customer access the store spaces that can indeed make the product display efficient and easier to access for the customer.
Heat maps are the way of visualizing these customer hot spots in your store which can make the placement of products on shelves as efficient as possible and improve the product visibility to your customers.
Improve product placement
The insights gained from the contactless data gathering makes it possible to manage shelves in a smarter way. Smart shelves is the new way of organizing products in your retail store to improve the visibility of the products and boost sales of any products.
Store managers can now identify the most visited areas in-store and allows them to test the products placements at the right spots in-store.
Restock products efficiently
Using the heat maps and contactless data gathered, improves sales of products that are places at the right spot, but it is equally important that it needs to re-stocked at regular intervals in-order to retain the interest of the customer.
Real-time inventory management is now possible with the integration of IoT in-store that keeps track of inventory after every sale at the counter and generates relevant reports on the quantity of the products to be re-stocked regularly.
Not just the in-store purchase, but even the online purchase can now be integrated with in-store purchase and inventory can be managed effortlessly. Physical stores can now use the digital solutions of leading brands at their stores to boost revenue and monitor the sale quantity of items either online or at physical store.
User specific recommendations
Hyper personalization is the new way of retaining customer attention at your retail store. These recommendations are made based on the insights gathered from earlier customer purchases made over a period of time.
This makes it possible to generate customized alerts to customers to notify them about any new offers or on any new arrivals that are relevant to their earlier purchases.
Increases store efficiency
Using these smart shelves, heat map areas in-store, and purchase patterns of customers visiting your store either online or in person, improves your store operation management efficient that before.
The use of store staff can be optimized and packaging of products can be automated to some extent, and Stock Keeping Unit (SKU) accounting easier than physically managing the stocks and delivery of items after a sale.
IoT in retail is worthy enough to implement at your store to make its operations more efficient and more customer friendly and help yourself to earn more sales at your online or physical retail stores.