Importance of IoT in Retail

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The Internet of Things (IoT) is a scenario in which objects or people are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

Internet

Importance of IoT in Retail
@yogeshhuja
MD, Swaran Soft

• IoT in Retail Market
• Online & Offline Friction
• Understanding Retail
• IoT’s Value Addition
• Case - Freedom.desi
• Q&A
In This Presentation

>90% of Global Trade needs IoT
Market Potential

Retail Businesses
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Even though e-commerce is driving quick sales growth, brick and mortar is still the major player in retail industry. According to the survey by TimeTrade, 85% of consumers still prefer to shop in-store. And there are more than 20 online retailers have opened physical stores. It's time for retailers to rethink their omnichannel strategies with store transformation. The Internet of Things is revolutionizing retail store operations. With the connected devices and sensor data, retailers can receive real-time information of both physical and digital worlds. They can use these insights to offer timely and personalized customer services, make better operational decisions, and secure merchandising and supply networks. Learn about how can IoT provides new opportunities and values for retail business and start your IoT journey with The Honeywell Building Sense. For more information, visit ibm.com/iot/retail

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You are likely benefitting from The Internet of Things (IoT) today, whether or not you’re familiar with the term. If your phone automatically connects to your car radio, or if you have a smartwatch counting your steps, congratulations! You have adopted one small piece of a very large IoT pie, even if you haven't adopted the name yet. IoT may sound like a business buzzword, but in reality, it’s a real technological revolution that will impact everything we do. It's the next IT Tsunami of new possibility that is destined to change the face of technology, as we know it. IoT is the interconnectivity between things using wireless communication technology (each with their own unique identifiers) to connect objects, locations, animals, or people to the Internet, thus allowing for the direct transmission of and seamless sharing of data. IoT represents a massive wave of technical innovation. Highly valuable companies will be built and new ecosystems will emerge from bridging the offline world with the online into one gigantic new network. Our limited understanding of the possibilities hinders our ability to see future applications for any new technology. Mainstream adoption of desktop computers and the Internet didn’t take hold until they became affordable and usable. When that occurred, fantastic and creative new innovation ensued. We are on the cusp of that tipping point with the Internet of Things. IoT matters because it will create new industries, new companies, new jobs, and new economic growth. It will transform existing segments of our economy: retail, farming, industrial, logistics, cities, and the environment. It will turn your smartphone into the command center for the both digital and physical objects in your life. You will live and work smarter, not harder – and what we are seeing now is only the tip of the iceberg.

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