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The great e-commerce expansion has blown up in the past several years, but it’s safe to say that Brick + Mortar stores aren’t faltering. These physical retail stores are teaming up with technologies resources, and gaining momentum. Technologies such as RFID and IoT have pushed physical stores to get smart and re-strategize engagement efforts. In doing so, they are working to follow the demands of the digital age and satisfy their customer base.
Tech it Out
RFID and IoT work together to run as the main transformation pillars for those in the retail industry. By integrating these tools, retailers can utilize RFID and IoT to enable better business planning. They can simplify business demands and optimize their customer engagement levels. Sensors and other systems, connected throughout the store, work to monitor and analyze business operations as needed.
IoT sensors go beyond remembering what you were browsing online, a few days back. They can see where you, as the customer, frequent in the store and even curate a tailored experience, just for you. It can also control the thermostat. But how? These sensors can track the conversion rates throughout the day, and if the population were to exceed a certain level, that sensor will send a notification to the thermostat, for it to be turned down.
RFID, RFID, RFID
Electronic tags with RFID sensors work to digitally track a product’s location and its purchase habits. Smart shelves come to life with their tag sensing ability to notice when stock is flying off the shelves. Retailers use RFID and IoT sensors to take note of specific weights through the aisles. Once products are picked up, the weight will drop significantly, providing retailers with information on what is selling better.
Retailers are also able to monitor theft rates by noticing change in weight, as if a product was stolen. The latest technology placed throughout the aisles can allow a grocery store to be viewed as more attractive than other stores in their area. Through utilizing wireless networks, digital displays and self-service kiosks, RFID and IoT have got a hold on retailers.
Managing RFID & IoT
Effective management solutions allows retailers to create environments for consumers, with these digital experiences. The collaboration of these technical resources can measure and analyze consumer habits, while also aiding with marketing research, with preferential predictions. Success depends on a number of factors, such as, training teams and obtaining sales support from seniority. A retailer must simplify their associates’ routines and pursue them to add value to the overall consumer relationship. The workplace can result in a more connected and integrated environment for everyone.
Looking forward, ISVs should be mindful of these supply chain demands. Whether if it’s creating simplified POS software for a an easy checkout, or working directly with end-user to create smart shelves or digital signage for way finding, there is a need to be filled. Through IoT and RFID, there is a way to success, and the supply chain is first in line.