Source:bernardmarr.com

How IoT Is Reshaping the Retail and Ecommerce Industry

Man is a creature who is constantly looking for ways and solutions through which he can simplify his way of life. So, looking for the answer to this question, how to simplify certain tasks in his daily life, he came up with an idea that will slowly begin to change our way of life. And that’s the idea of ​​the Internet of Things.

What is the concept of the Internet of Things?

Source:retailcustomerexperience.com

The definition says that IoT is a practical system of objects, devices, machines, people connected through a network, which through built-in sensors can and manage to transmit data without involving human interaction. This is a way of using modern technology and aims to provide us with a simpler and more comfortable way of life. As a simple example, we can take the smart devices we use, the mobile phone that already has an application for monitoring the weather forecast. The device itself sends us information about changes that occur such as that it is expected to rain, snowy days ahead, the significant rise in temperatures, storms, and the like. This information is very important for people because they will get the information they need about whether they should bring an umbrella today when leaving home, whether they should additionally use sunscreen, whether the weather conditions will allow them to go on the road and much more.

This concept of IoT is not just present in people’s daily activities. It is present in many other areas such as health care, retail, transport and logistics, agriculture, manufacturing, finance, energy, and many others. And not only is it beginning to spread across all sectors, but significant growth has been observed globally. This means that the very idea of ​​modernizing things is recognized and works in the best possible way.

In the continuation of this text, we will dwell a little more on the implementation of IoT in the sectors of retail and e-commerce.

What are the benefits we get from IoT in running businesses?

Source:industrywired.com

The use of this concept has many benefits and positive features that are of great importance for the operation and management of a company. Some of the benefits that businesses enjoy can be:

– huge savings of time and money

– easier monitoring of business processes

– significant increase in the productivity of the employees in the company

– visible improvement of the customer experience

– revenue growth

– easier making of decisions that are of great importance for the functioning of the business itself

How has this Internet of Things system changed the retail industry?

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With the application of this concept, the retail industry has felt a revolutionary change in the way it works positively. We will try to explain this to you through a very simple example.

Installation of automated check-out counters. Surely you have been shopping in a bigger market and like other buyers, you buy products that you need for the whole week, which means that in your cart are a large number of products. You will be greeted by a long line at the cash registers in the market, and a long line means a waste of precious time. If an automated check-out box is implemented in the market, the queues will be significantly reduced. Customers will have the unique opportunity to quickly and easily read their products themselves using barcode readers and finally pay their bills using contactless payment. Here we can note one of the advantages we mentioned earlier, and that is saving money and resources for the business. The market will save by having to hire an additional person who will have to be placed at the cash register to serve the customers. Or the person who will have to be at the cash register will be able to apply their productivity to another work activity in the market.

If you want to find out more about implementing an IoT idea in retail, visit this site. Through a series of examples of already well-developed businesses, you will see the impact of using the Internet of Things. You will see how this project improves the overall operation of companies and improves the purchase experience of consumers.

How does IoT affect the e-commerce industry?

Source:openpr.com

In any case, its impact is positive because it provides a simpler approach and a facilitated shopping experience for consumers. Take for example a clothing line that has a website that allows shoppers to shop online. IoT technology enables tracking of every order placed online. And not only that, it is very easy to follow the inventory that the store has, which products are in stock and which are not. It is easier to determine which products are mostly consumed in purchases and in this way it will be easier to determine the demand among consumers and the business will know what type of strategies and policies to use in the future to meet the needs of consumers. Since we mentioned the inventory and inventory of the store, the IoT application will greatly facilitate the way of purchasing new products or products whose inventory is declining. This process will be simplified and accelerated if RFID tags are used to have a better view of the items in stock. There will be no need to hire an additional person in the warehouse who will have to keep these records, and the risk of making mistakes and having false data will be reduced.

The purpose of this article was to introduce you to how IoT helps reshape the retail and e-commerce industry for the better. And we managed to capture the point and show the importance of the use and implementation of technologies in these sectors. We will find the pursuit of simplicity and a better life if we continue to create new technologies that will open a new world for us and have the power to improve humanity for the better. The above examples are just proof of how technological innovation positively affects businesses and consumers and how this phenomenon is of great importance for our future.


Ricardo is a freelance writer specialized in politics. He is with foreignpolicyi.org from the beginning and helps it grow. Email: richardorland4[at]gmai.com