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Smart Retail Technology in IoT – Smart Retail Stores

Written by Quadrum Lee

October 23, 2019

Latest Tech News

Today’s topic is about “How IOT Gives Rise to Smart Retail Technology“. Simply, I want you to picture your kitchen at home. If you’re like most people you can trace many of your groceries back to the original source and so it’s this farm-to-table sense of knowing the local grower who’s responsible for your produce.

Many exports spent a lot of time thinking about the future of the retail grocery industry. Today about 10% of US shoppers are buying their groceries online and that’s steadily increasing. With new technologies like IOT and artificial intelligence, this concept of a smart kitchen that cooker restock itself, we’re not very far away from that.

Grocery retailers are challenged to match smart kitchens with smart aisles. If you think about new technologies like IOT, you can start to place sensors within the store which are essentially data sponges that are soaking up all the shopper insights and behavioral patterns.

And you start to look at the patterns within the store are we seeing the right conversion? Are we seeing the right movements in the store to be able to make smarter business decisions? Data is only useful if you can process it quickly and you can process it efficiently. If you can do that, you turn data into real intelligence that you can use to personalize the customer experience.

My smartphone can ping me with a personalized discount that’s crafted for me and so if I click on that discount, I could be presented with a store map to actually find these items. And now I can be guided through the aisles with showing that lights up as I approach it. Insights need to be processed very close to where the data set sits.

I’ll give you an example. If you’re standing in the produce aisle there isn’t time to send the data to an off-site processing center, back to the store and then back down to the customer. So in today’s era, seconds matter in the customer experience the future the grocery industry belongs to those organizations that can process data at the edge of your network.

In that way, the concept of edge to edge intelligence is tailor-made for the grocery business because we want to keep our data as close to the source as possible, just as we want our food to travel a short distance from the farm to the table. So what do you think about Smart Retail Technology in IoT? Let us know in the comment section below.

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