In the past, if you wanted to buy a certain product, you had to go to a suitable store. But you didn’t know beforehand whether the products offered there corresponded to your ideas. For this reason, e-commerce continues to grow. We’ll explain how IoT is changing retail and e-commerce.
What Is Iot
The Internet of Things (IoT) connects physical devices to the internet. It’s an important concept. It enables physical devices to be available in any location, and it is of great importance to the growth of any business.
The devices collect data and pass it on so that important processes can be automated. Automation then means that little or no human intervention is necessary.
What Does IoT Have In Common With Retail And E-Commerce?
Buyers increasingly want to shop online. Instead of walking from shop to shop in the city or the shopping centre, they prefer to look for suitable products from the couch. Retail has recognized the trend and is getting smarter and smarter.
IoT plays an important role here as it offers the industry a lot of room for improvement. For example, it helps to examine customer behaviour or develop new, better business models.
By 2025, the retail IoT market will grow to $ 94 billion.
Use Cases: Three Examples For The Use Of IoT
So that you can better imagine how IoT supports retail and e-commerce in practice, we show you three examples below.
Intelligent Inventory Tracking
Many companies still use warehouse managers to control the incoming and outgoing goods in their warehouses. In the meantime, IoT tools via sensors and RFID tags help automatically check the inventory. The sensors automate the allocation and movement of goods in the warehouse by showing free spaces on the shelves.
An optimal floor plan is possible when shops are equipped with sensors, video, and Wi-Fi points. The sensors analyze, among other things, visitor traffic in the shopping centre and recognize whether the goods meet customer needs.
Companies can equip their vehicles with IoT-networked sensors, GPS trackers or RFID tags. This means that the goods are visible in real-time on their way. Thanks to IoT, managers can more easily understand how close goods are to a specific branch and optimize the entire transport.
The Future Of Retail And E-Commerce
The use of IoT in retail and e-commerce will increase in the future as more and more companies recognize the many advantages. Traditional trading processes are changing, customer service is becoming more efficient and more personalized, which at the same time leads to sales growth.
The software company Softeq supports retail and e-commerce companies in introducing IoT in a meaningful way to secure an advantage over the competition through digital progress.
The devices collect data and pass it on so that important processes can be automated. It enables physical devices to be available in any location, and it is of great importance to the growth of any business. The sensors automate the allocation and movement of goods in the warehouse by showing free spaces on the shelves. Thanks to IoT, managers can more easily understand how close goods are to a specific branch and optimize the entire transport.