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What Happens When IoT, Big Data and Retail Location Systems Meet? Posted on Jul 17 - 2017

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The retail industry is in decline. People commonly attribute the decline to three factors: too many malls, customers switching to online shopping and a change in mindset from materialism to experiences.

But what if we brought the online experience to offline shopping — would that counteract the latter two reasons?

Customer Experience Drives the Way

An estimated 73 percent of shoppers use mobile devices while shopping in a store to check reviews, product datasheets, usage guidelines and more.

And while shoppers find facial recognition technology 'creepy,' they welcome product descriptions, guidelines for product usage or lists of related products. Even more appreciated are the discounts that pop up while walking the aisles or coupons for products you left abandoned.

Simply put, consumers want digital shopping experiences in physical environments. Online features such as recommendation engines create win-win situations by making purchases easier for customers and bringing high ROI for shop owners.

But how can we clone these to the offline world?

It's About Time IoT Meets Big Data

The technology is already here. While some companies have already put their faith in iBeacon  technology, the Ultra Wide Band retail location systems (UWB RTLS) bring more accurate distance and location measurement — for example, Sewio, which delivers accuracy within 15 centimeters and 50 millisecond update time.

Retail stores already track transactional data of their sales and are using floor plan and planogram management systems, including Retail Smart, Oracle Retail Macro Space and others, to plan the product placement of each item group. View More

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