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How the Internet of Things is Improving the Retail Industry

Posted by Zebra Global

February 3, 2015 at 8:04 AM

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The first in a series of blogs taking a closer look at Zebra's 2014 global study, commissioned by Forrester Consulting, on IoT implementation in the enterprise. The series will culminate in a Twitter chat discussing the Internet of Things.

The Internet of Things (IoT) has positively impacted many industries since its emergence. The retail industry has experienced some of the most significant improvements from IoT.

The Forrester Research study results reveal:

  • Nearly 96% of respondents within the retail industry are ready to make the necessary changes to implement IoT solutions in their business.
  • In fact, 67% have already begun deploying IoT as part of their business strategy.
  • And 26% have plans to begin implementation within the next year.

This shows that the retail industry is one of the leading sectors of IoT implementation.

Business decision makers have begun to realize that IoT will be the most important technological initiative the business world has seen in a decade. The majority of retailers expect to increase efficiency of supply chain processes through the real-time actionable data IoT can provide. By empowering business processes and optimizing costs, this data can also provide insights that can help improve operations, create additional streams of revenue, and improve the overall customer experience.

Not only can implementing IoT solutions increase efficiency and the overall experience within retail, but survey respondents also found little difficulty in the implementation process. Respondents agreed that the benefits of IoT solutions significantly outweigh the challenges of deployment across multiple technologies.

Overall, retailers have already begun to experience the many benefits that IoT-based solutions can offer. From making the customer experience more personalized and meaningful, to enabling associates with the tools and knowledge they need to better serve shoppers, there is no doubt that the Internet of Things will impact the entire retail industry.

Download the Forrester study Zebra commissioned here.

 

 Continue to #TalkIoT with us on Twitter

 

 

Topics: RFID, Retail, Internet of Things, Visible Value Chain, APAC, North America, Latin America, EMEA