70 Percent of Retailers Plan to Invest in the Internet-of-Things

  • 70% of Retailers plan to invest in IoT by 2021
  • 71% intend to install sensors to track customers’ footpaths
  • 75% want real-time alerts in order to deploy employees to locations in the store to assist shoppers
  • 79% will be using cameras and video analytics for operational purposes.

This is according to a report by ZIH Corp – Zebra 2017 Retail Vision Study.

Retailers are turning to IoT technologies to gain business insights, reduce operating costs, increase revenue and keep pace with the competition.

Nearly 70% of retail decision makers are ready to make changes required to adopt IoT, like installing a Retail Sensing analytics system.

The goal is to generate concrete, actionable insights on customer shopping habits and buying patterns by tracking customers’ movements throughout a store, and noting where people tend to linger. Retailers can leverage this behaviour data to make more-informed merchandising and marketing decisions, like measuring the effectiveness of displays.

Cameras positioned around store, linked to video analytics units, capture data – identifying which aisles and products customers prefer, and which areas of a store lead more often to a purchase.
Heat map in a children's clothing store
Heat map of where people linger in a children’s clothing store

So when sensors detect a poorly trafficked area in a store, for example, that real-time data insight alerts associates to merchandising missteps.

According to research by Andrew McAfee and Erik Brynjolfsson, of MIT, companies that inject big data and analytics into their operations are 5% to 6% more profitable than competitors that don’t. So no wonder 70% are planning to do so.

For more information on using the Internet-of-Things in retail situations, – counting visitors, testing displays, tracking customers around a store, and so on – contact Retail Sensing.

Further Reading

Zebra 2017 Retail Vision Study.

Making Advanced Analytics Work for You, Harvard Business Review by Dominic Barton and David Court

Retail Sensing

Retail Sensing manufacture the Video Turnstile people counting, vehicle sensing and smart city equipment. Our systems not only measure footfall and traffic, but monitor queues, display occupancy, track shoppers around stores, show heat maps of most visited areas, record passenger numbers, count pedestrians and provide retail intelligence and key performance indicators.

Tags: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *