The document discusses how Internet of Things (IoT) innovation is transforming future retail experiences in three ways: inside the box, around the box, and outside the box. Inside the box refers to more efficient and engaging physical retail spaces using IoT and IoP technologies. Around the box means integrating the physical store into a multi-channel retail experience. Outside the box covers new physical retail concepts that extend beyond traditional stores. The role of physical stores is changing as they become connected to other channels through IoT-enabled technologies.