IoT in Retail
The Internet of Things (IoT) promises to change retail forever, connecting people, objects and data for the benefit of customers, employees and businesses, across channels, operations and society.
IoT enabled systems can track and communicate with products throughout the entire lifecycle, from development to distribution to sales, consumption and replenishment – and beyond. Moreover the growth of integrated IoT services is set to influence retail delivery models in terms of design, price and value. The potential to combine products and services is immense.
Here are just some examples: patients will be able to receive individualized medical care based on data provided by wearable devices. Shoppers will be able to trace grocery products to their source to validate their quality and environmental impact. Finally our clothes could tell us when they need washing – and which program to use.
From the point of view of production and the supply chain, IoT's enhanced information streams can help eliminate inefficiencies across the value chain. Sales data feeds faster into the production process, helping to save energy and materials, speed up replenishment and eliminate out of stocks. The principles of just-in-time production are becoming available to all types and sizes of business. Meanwhile the customer experience will improve as store layouts are flexed in line with more closely tracked browsing behavior.
With IoT technology from Fujitsu, retailers can now run targeted pilot applications to enhance the customer experience , prove efficiency gains and assess the impact of IoT on the business. Fujitsu can also help customers scale applications from Proof of Concept to full rollout and service running.
Food for Thought