IoT Applications in Retail

by May 19, 2020Applications of IoT

With new technologies like IoT, the concept of smart kitchen could restock itself. We’re not far away from that. Grocery retailers match smart kitchens with smart aisles. In addition, IoT connected devices such as beacons, video cameras, digital signage and smart shelves provide access to huge amounts of new data on customer activity and present more opportunities. Hence, includes sophisticated insights and immersive customer engagement. For instance, data is only useful if you use it in an efficient and useful way.

Okay, now just imagine you enter in a retail shop and your phone pings. When you open your phone you can see the map of the shop. By following the map you can easily shop whatever you want. After your shopping, the total bill will be generated and you will be notified via smartphone. After that, you can pay it online via payment apps after an automatic discount. Isn’t it be cool?

Well, this kind of experience is closer than you think. Thanks to the growth of IoT technology. So, what IoT can do for making a smart connected retail. The answer is here:

1. Automated Checkout

We all face the problem of long lines when we come to purchase products. As a manager, he/she can feel unprofitable to pay during busier shopping time. But, Iot makes it easier. Whenever a customer leaves the store a system would tally the items up and automatically deduce the cost for a discount in the customer’s mobile payment app. Basically, it will make customers happier and will to visit again. Moreover, it can save money and efforts.

2. Personalized Discount

Basically, IoT sensors can monitor the customers in the store. Monitored data can store the customers’ loyalty and based on their loyalty it will reward them with automatic discounts. For instance, the customers should sign up for the loyalty program via their smartphones. In addition, IoT sensors can track items a customer has been looking at online, and send a personalize discount when he/she is in-store. Rather than offering general discounts on a wide variety of products, you can tailor each discount using IoT to maximize conversion rates. As a result, using IoT devices can attract more valuable and loyal long-term customers.

3. Beacons

Basically, Beacons are nothing but are small Bluetooth devices that send alerts to smartphones based on location proximity. As this app can recognize your location- so if you’ve entered the food section, the app will remind you of the restaurants you liked online. It was first innovated by Apple. However, using this, customers can receive discounts, special events or other reminders when they’re near a shop and have previously downloaded the store’s app. Apart from helping customers in-store, beacons also send alerts to passerby. This will effectively promote the store. Besides Apple,

  • Macy’s
  • Urban Outfitters
  • Target
  • Nordstrom
  • CVS Pharmacies
  • Walmart
  • Neiman Marcus
  • Lavi’s Stadium Concessions
  • Universal display
  • Hillshire Farms
  • Alex and Ani

etc are also using Beacon Technology.

4. Smart Shelves

As we know that it is very tough work for employees to keep tracking of items to ensure they’re never out-of-stock. Also checking that the item is not misplaced in various shelves. A smart shelve can automate both of these tasks. In addition, it can detect potential theft. They use weight sensors and RFID tags that allow to scan the products on both display and stock shelves. For instance, the RFID tags are connected to each reader. Moreover, it will inform the status of the items whether running low or incorrectly placed. Smart shelves are able to detect in-store theft. As a result, this can save money for security personnel and cameras.

5. Layout Optimization

The retail holder can realize that his/her retail layout is beyond customers’ satisfaction. This may be due to the least popular products are in the front, or least space around the couches in the back. To improve the retail layout aisle-analytics software with infrared sensors can be used. Most preferable items should be placed in the front rather keep those in the back.

6. Robots in Work

When trust is an issue robot employees can be the best option to be the customers representative in-store instead of human-employees. Robots can help customers find specific products and provide information on promotions and inventory. Similarly, robots can speak and answer the questions of the customers. Likewise, they can roam the store and take note of the misplaced items, or running status of items. Some robots employees of retail shops are:

7. Optimization of Supply Chain Management

Basically, the main purpose of retail is to track items at the time of transport. With the help of RFID and GPS sensors, IoT can obtain more precise data like the optimal temperature of a particular product. That data also can be used at the time of transportation. Moreover, one can take preventive actions in real-time if a product is being kept at temperatures too low or too high, avoiding a substantial loss in the time of transportation.

8. The Growth of IoT in Retail

The rapid growth of online shopping is encouraging retailers to bring the frictionless customer experience of online shopping into the store wherever they can. They want access to the same type of rich data and high-performance analytics. Hence, retailers use to drive websites and mobile shopping trips. The lack of knowledge and retailers is a factor limiting the industry growth. In addition, countries technical enhancement in the network platforms, devices, and professional services. This kind of store management efficiency supports the market growth. IoT in retail-market-based companies resort to provide premium-quality products at reasonable prices with low price differentiation from their competitors. To fulfil the requirement of digitized supply chains, many retailers are turning to IoT in combination with other digital technologies. In conclusion, this add manage inventory in real-time, secure and end-to-end supply in the retail industry.

Creating a multiplication Skill in Alexa using python

Written By Itika Sarkar

Hey, this is Itika Sarkar. I'm currently pursuing BTech degree in Electronics & Communication Engineering(2nd year). Writing technical articles, tutorial and innovative projects on modern industry-related technologies are my hobbies.

RELATED POSTS

What is Blockchain? How it can enhance IoT features?

What is Blockchain? How it can enhance IoT features?

In this article, we will learn about the “What is blockchain? How it can enhance IOT features?”. Before getting into the topic, lets brush up with basics about IOT and Blockchain. Blockchain refers to an encrypted, distributed, decentralized computer filing system...

IoT in the Education Sector

IoT in the Education Sector

Education in a literal sense means the process of receiving or giving systematic instruction, especially at a school or university, and with IoT, it is a more fun process. In simpler terms, it is an enlightening experience. Although traditional teaching may not have...

Importance of Cybersecurity in IoT

Importance of Cybersecurity in IoT

The Internet of Things mainly refers to the everyday devices that have an internet connection and can communicate independently with the network and other devices. To improve our life, business, or the environment, we can use the information that is provided by these...

Deep Learning and the Internet of Things

Deep Learning and the Internet of Things

Introduction Deep learning consists of supervised or unsupervised learning techniques. IoT is utilizing a broad range of sophisticated technologies, from embedded devices and communication technologies to data analytics. The number of IoT devices is increasing day by...

Self Driving Cars and IoT

Self Driving Cars and IoT

A self driving car, Everyone wants that, right ? A car that can drive automatically in which we don't need any driver, sounds cool ? In this article, I will walk you through the introduction of self driving cars and the role of IoT in it. A self-driving car, also...

Cyber-Physical Systems and IoT

Cyber-Physical Systems and IoT

Introduction Cyber physical system (CPS) is a computer system. It is composed of a collection of devices interacting with each other and also communicating with the physical world. It integrates computation and communication aspects with control and...

IoT Applications in Smart Farming

IoT Applications in Smart Farming

IoT implementations have had an exponential increase. The ease of accessing and storing data provided by IoT has made it a popular choice for many fields. And agriculture lags no way behind in this race. Researchers and experts have recently noticed that IoT...

Computer Vision in the Internet of Things (IoT)

Computer Vision in the Internet of Things (IoT)

What is Computer Vision? Computer Vision is all about how the computer gains understanding from digitals images and videos. From the perspective of engineering, it seeks to understand and automate tasks that the human visual system can do. Computer...

Internet of Things in Manufacturing Sectors

Internet of Things in Manufacturing Sectors

Industrial Revolution The Industrial Revolution transformed economies that had been based on agriculture and handicrafts into economies based on large-scale industry. The main features involved in the Industrial Revolution are technological,...

VIDEOS – FOLLOW US ON YOUTUBE

EXPLORE OUR IOT PROJECTS

IoT Smart Gardening System – ESP8266, MQTT, Adafruit IO

Gardening is always a very calming pastime. However, our gardens' plants may not always receive the care they require due to our active lifestyles. What if we could remotely keep an eye on their health and provide them with the attention they require? In this article,...

How to Simulate IoT projects using Cisco Packet Tracer

In this tutorial, let's learn how to simulate the IoT project using the Cisco packet tracer. As an example, we shall build a simple Home Automation project to control and monitor devices. Introduction Firstly, let's quickly look at the overview of the software. Packet...

All you need to know about integrating NodeMCU with Ubidots over MQTT

In this tutorial, let's discuss Integrating NodeMCU and Ubidots IoT platform. As an illustration, we shall interface the DHT11 sensor to monitor temperature and Humidity. Additionally, an led bulb is controlled using the dashboard. Besides, the implementation will be...

All you need to know about integrating NodeMCU with Ubidots over Https

In this tutorial, let's discuss Integrating NodeMCU and Ubidots IoT platform. As an illustration, we shall interface the DHT11 sensor to monitor temperature and Humidity. Additionally, an led bulb is controlled using the dashboard. Besides, the implementation will be...

How to design a Wireless Blind Stick using nRF24L01 Module?

Introduction Let's learn to design a low-cost wireless blind stick using the nRF24L01 transceiver module. So the complete project is divided into the transmitter part and receiver part. Thus, the Transmitter part consists of an Arduino Nano microcontroller, ultrasonic...

Sending Temperature data to ThingSpeak Cloud and Visualize

In this article, we are going to learn “How to send temperature data to ThingSpeak Cloud?”. We can then visualize the temperature data uploaded to ThingSpeak Cloud anywhere in the world. But "What is ThingSpeak?” ThingSpeak is an open-source IoT platform that allows...

Amaze your friend with latest tricks of Raspberry Pi and Firebase

Introduction to our Raspberry Pi and Firebase trick Let me introduce you to the latest trick of Raspberry Pi and Firebase we'll be using to fool them. It begins with a small circuit to connect a temperature sensor and an Infrared sensor with Raspberry Pi. The circuit...

How to implement Machine Learning on IoT based Data?

Introduction The industrial scope for the convergence of the Internet of Things(IoT) and Machine learning(ML) is wide and informative. IoT renders an enormous amount of data from various sensors. On the other hand, ML opens up insight hidden in the acquired data....

Smart Display Board based on IoT and Google Firebase

Introduction In this tutorial, we are going to build a Smart Display Board based on IoT and Google Firebase by using NodeMCU8266 (or you can even use NodeMCU32) and LCD. Generally, in shops, hotels, offices, railway stations, notice/ display boards are used. They are...

Smart Gardening System – GO GREEN Project

Automation of farm activities can transform agricultural domain from being manual into a dynamic field to yield higher production with less human intervention. The project Green is developed to manage farms using modern information and communication technologies....