How IoT is transforming Retail. Chiefly, customers should be able to identify and request stock items from tablets inside the changeroom at the press of a button. Markedly, 3D sensors installed behind mirrors should allow customers to select, model, style and fit items of clothing and accessories.

To Accept and process payments from customers anywhere in the store. This increases sell-through for the retailer while providing customers with immediate service.

To arrange for customer deliveries with mobile tracking facilities at the point of sale – this would allow customers to continue shopping or with other activities without the hassle of carrying their bags around. The benefit for retailers. Customers who don’t have to worry about carrying their bags will likely purchase more goods per shop.

To provide instant in-store feedback on a customer’s loyalty status and any discounts and/or awards available for use.  Consequently, this would influence purchasing decisions and drive sales while providing customers with benefits. Benefits would be based on personal history and loyalty points earned and could include free delivery, price discounts, giveaway items.

The IoT creates a seamless and effective communication channel for retailers. In order to, target customers with contextualised messages wherever they are and whatever they’re doing. This especially becomes relevant when a customer can be identified by location-based services within a certain distance of the retail outlet. Thereby, creating an incentive for them to engage. Additionally, time-specific and personnel offers can be pushed to customers. Ultimately, driving traffic in-store when retailers are less busy or during specific promotions.

The result increased turnover for retailers and personalised and relevant services delivered directly to the customer.

What is a Platform Strategy