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BW SMARTCITIES WORLD N November-December2015 N 66
TechTalk
whereeverydayisnotasunnyday
ofbumpersales.Irrespectiveofthe
day...
BW SMARTCITIES WORLD N November-December2015 N 67
tradeisinvestinginIoT.Oncean
IoTfoundationisinplace,retailers
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Robin Hood Of Offline Retail - Yogesh Huja

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IT solutions and services leader SwaranSoft has cemented its place as a business catalyst for a diversified set of customers. Founder & MD, YOGESH HUJA, tells BWSC how the company is looking to give offline retailers an edge in a cut-throat world by reviving brick-and-mortar stores with IoT

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Robin Hood Of Offline Retail - Yogesh Huja

  1. 1. BW SMARTCITIES WORLD N November-December2015 N 66 TechTalk whereeverydayisnotasunnyday ofbumpersales.Irrespectiveofthe day,theownerstillwantsthisdata toplanstrategiesandpromotions accordingly. You say that understanding IoT can help businesses boost sales. How would you explain that? IoThasdifferentconnotationsfor differentpeopleandthisambigu- itycanoftengetconfusing.No onehasasecretsauceoraready- to-referenceguidetosuccess.You needaRobinHoodwhofetches thebigdataanalytics&serveson toeachretailtouchpointforbetter consumerexperience&henceforth sales.Thereissignificantvaluetobe realisedinimprovedfinancialand operationalefficiencies. Sittingontheshoreisnolonger anoption.Thetideisturning, T HE INTERNET OF THINGS (IoT) buzz has fast-tracked in recent months, specifically in retail. IoT is the one of the most innovative tools for retailers to be more “connected,” “intelligent,” and “smart”. The goal here is cer- tainly to enhance the consumer experience and IoT will enable that in futuristic and fantastic ways. But this should not be any retailer’s sole focus, and certainly shouldn’t be their initial focus. What is the importance of IoT in Retail? Afamousretailerquotegoes: “Halfmyadvertisingiswasted; thetroubleis,Idon’tknowwhich half.”Retailerstodaycaneitherlook atIoTintermsofboringsensors, devicesandprocessesbutiftheydo sofromacustomer’sperspective,it revealsanexcitingworldofoppor- tunitiestobuildtherightexperience andanalyticsalongthepath-to- purchase.Thetraditionalwayof gaugingbusinesshealthstartswith storefootfallsandsalenumbers RobinHood ofOffline RetailITsolutionsandservicesleaderSwaranSoft hascementeditsplaceasabusinesscatalyst foradiversifiedsetofcustomers.Founder &MD,YOGESHHUJA,tellsBWSChowthe companyislookingtogiveofflineretailersan edgeinacut-throatworldbyrevivingbrick- and-mortarstoreswithIoT IoT allows you to understand shoppers and their behaviour based on online searches that are a day or even a few minutes old
  2. 2. BW SMARTCITIES WORLD N November-December2015 N 67 tradeisinvestinginIoT.Oncean IoTfoundationisinplace,retailers canidentifypracticalwaystobuild onthisnewenvironment.Asan onlinedotcomcaneasilychangethe positionofproductsonitshomep- agebasedononlineanalytics,we confirmthatofflineretailerwillbe abletobuildevenastrongercase withIoTanalytics. What is Big Data & how is it an integral part of IoT? Bigdatareferstolargevolumesof dataorcomplexdatasetsforwhich standarddataprocessingapplica- tionsarenotsuitable.Wehave billionsofsensorstocapturedata inreal-time,withatoweringneed toprocessthesame.Understanda massdataproducedinamallorbig market&howthiscanbesmartly processedforservingtobusinesses toplanpromotions,engagements &buildrightconsumerexperience. Thefuture’sconnectedcompe- tenceswillaskthebestofstructures anddevices. How should a retailer use IoT? Aretailercanstartassmallasin storetouchpoints,movingonto footfallscountingsensorswhich capturedwelltimeateachstore& itssections.Addingamotionsensor couldsignalthedigitalsignage todisplayawelcomeimagewhen someoneisapproaching.Retail- erscanbuildloyaltyapplications andtiethesignageorstoreshelf toasensor.Babysteps,ifyouwill. ThenthereisyourveryownRobin HoodwithasecretoftheShireto theshopper’sneedallowingthemto pullitrightofftheshelfevenasthey greettheshopper.System-driven intelligencepushesrecommenda- tionsregardingaccessoriesthatcan beaddedtotheshoppinglist.Creat- ingarenewedshoppingexperience inofflineretailwillhelpretailers increaseunitspertransaction. How does one find the right balance between the boring and exciting facets you speak of? Settingupsensorsmaybeboring butdiscoveringnewshoppersusing IoTisexciting.Thecommongoal isaseamlessshoppingexperience acrosschannelstoboostsales.The ultimateaimistoeliminatechan- nels,notconnectthem. How can a retailer build a long-term strategy? AdoptingIoTinretailprimarily meanssettingupbuildingblocks foreffectiveconsumerexperience. Thoseinthetradeknowhowhard itistobesystematicanddeliberate whensuccessisbeingmeasured overonefiscalquarterorseasonat atime.Tobeginwith,startwitha purposestatement.Collaboration intheecosystemispivotal. You would require few sensors, gateway, telecom connectivity, cloud, an application, and your own mind share. Have a long-term goal in mind, a roadmap to target and deliver incrementally. Always eat a smaller piece of the pie to savour the flavor before trying out new recipes. Let your Robin Hood do the rest!< boostyoursales! Signupatwww. freedom.desiandlettheconversa- tionbegin. Can offline retailers do battle with the “dotcommers”? Yes,IoTallowsyoutounderstand shoppersandtheirbehaviorbased ononlinesearchesadayoreven afewminutesold.Identifyinga shoppertheminuteheorshewalks in,anofflinestoreIoTcantrigger alertstoshop-floorassociatesabout 56 % of smartphone users plan to use their device while shopping: ACCENTURE 85% of shoppers prefer personalised offers reflecting their past shopping behavior: SYNQUERA 54% use or would like to use digital touchscreens in-store: CISCO 61% would visit and do more shopping in a store with beacon marketing campaigns: SWIRL 60% and above would choose stores because of online services in store: ZOGBY ANALYTICS Survey THE NUMBER SHOP Sources: As shared by the interviewee

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