The Internet of Things has a strong potential. According to research firm IHS, the Internet of Things market will reach US$30.7 billion in 2020 and will reach US$75.4 billion by 2025. IDC also pointed out that the global Internet of Things-related expenses will be 2020. Up to 1.29 trillion US dollars.
The boundaries between online shopping and physical retailing may not be so clear. For retailers who want to integrate online and physical retail channels, the Internet of Things will play an important role, but many application examples will not bring the potential of the Internet of Things.
RIS, the market-adjusting company, selected seven retailers that use the Internet of Things (IoT) for digital transformation. These retailers have used IoT technology to innovate customer experiences and streamline operations, such as Amazon, Lowe's, Lululemon, and Finish. Line, Hy-Vee, Kroger and Target.
When it comes to innovative technology applications, you have to mention Amazon, examples of which include unmanned stores and assistant Echo. At present, 8 million people around the world use Echo to shop, and they can also go to Amazon's unmanned store Amazon Go. Due to the use of accurate product tracking, people only need to remove items from the shelf to bring out the store door, Amazon will automatically be in the user's Debits within the account.
Home improvement retailer Lowe's robots tested in 11 chain stores, LoweBot, shuttle around the chain to answer customer questions, answer product prices, product stocks, etc. In addition, Augmented Reality (AR) App is also available to allow users to take advantage of AR functions. In-store navigation to find products.
Lululemon, a sportswear and apparel supplier, puts RFID tags on products in retail stores, and publishes an app that allows shoppers to check whether there is still an inventory of a certain item in the store, with an accuracy rate of 98%; just use a mobile phone to scan the product label. With the barcode, you can read the product details. Finish Line customers can also view detailed information on in-store sneakers through RFID, including consumer reviews, introductory videos, product details, and wearing examples on social networking sites.
Chain supermarket group Hy-Vee uses RAIN RFID technology to track the freshness of fresh food in the delivery process and the freshness of fresh food stocks to determine when to promote the products; another supermarket chain Kroger uses sensors to detect Measure the specific location of the customer in the supermarket and push the adjacent product information to the customer's mobile phone.
Target uses Bluetooth in more than 1,000 stores, allowing shoppers to quickly find counters and merchandise, and tagging shoppers on the Target App. Target also launched software Mission Control, which allows startups to apply for their IoT device concept. The store Target Open House sells merchandise and can see customer feedback and understand customers' preferences for merchandise.
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