Internet of Things or IOT for short is another exciting technological development that will allow retailers to gather powerful insights into customer behaviour. Up until now experiments with this technology have shown huge potential for retailers. Based on how customers respond to a given environment, and by intelligently tracking their movement inside the shop, for example, the retailer can find the best possible improvements to be made to the shop floor’s layout.
There is also huge potential for a variety of industries to benefit from IOT including restaurants and hospitals. Companies in the financial sector can make use of IOT to track employee performance in relation to their surrounding environment. The possibilities are endless. But the real impact of this technology will only be felt when retailers adopt it in practical terms.
Any technology based implementation in a retail business is only as good as the positive outcome it ensures. When applied correctly with a clearly defined objective, technologies such as mobile and IOT can give smaller retailers a significant advantage in competitive industries. That is as long as the goal is to bridge the gap even more with consumer enhanced experience and satisfaction.
Cathy McCabe – Chief Information Officer at Jaeger presented an insightful webinar for us earlier in the year, specifically looking at technology and the customer experience. Click below to watch the presentation: