Over-dramatic title as expenditure through physical retailers still accounting for 92% of 2015 consumer expenditure in the US.
And retailers embracing IoT offer even better customer experience on top of the unique advantages of:-
- immediate tactile sensory experiences
- buy and take home same day
- different brands in same place
IoT can maximise the benefits above whilst also reducing operating costs.
IoT in the background is where the significant advances and deployments will be made. Something I explored in:
With IoT, this scenario very well could be a thing of the past. Many retailers are already using RFID tags to manage inventory, but IoT can greatly increase inventory management capabilities. RFID can capture and send real-time data about inventory to the retailer including exact GPS location, as well as parameters like temperature (is the food in danger of spoiling?) or impact threshold (has the product be dropped and possibly damaged?)