With the increased use of internet and technology, the ones shopaholics are no more found in the retails, shopping around and checking out the items.
Instead, they are found online add-to-cart-ing and, buy-now-ing, having their products delivered at their home and in all comfort.
The brick and mortar stores are certainly being disdaining soon after the introduction of e-commerce stores and online shopping. Luring in the shopaholics with the comfort of home deliveries and cashback offers, online shopping seems to fade out the visit-to-retail thing in the people.
Counterattacking the same, the retail stores have adopted the IoT technology to get back in the game before falling into an “old-school” category.
Well, there’s no doubt that incorporating IoT technology has made the brick and mortar stores capable of competing with online shopping. The IoT adoption leads the retails to provide their customer a unique, personalized and engaging in-store experience besides increased profitability.
IoT technologies offer endless capacity for transforming the retail customer experience by aligning online and in-store strategies. Streamlining retail with the provisions to stay in the game of online presence, the IoT app development company is found to be a helping hand to the retails
Talking about the IoT technology transforming the way retails serve their customers, here are a few ways that portray how IoT technology is helping retail stores transform their customer experience.
No longer checkout lines and no more abandoned carts!
It is observed that almost 41% of the shoppers abandon their purchases because of long checkout lines. Adopting the IoT technology, the retail stores have come up with the prompt payment options solving abandon carts and purchase problems.
Allowing the shoppers to pay anywhere in the area by scanning items with the Check Out With Me devise, swiping the card and receiving a digital receipt. So, more hurrying and rushing to the counters.
Some retail stores are taking the checkout system to a completely next level with a policy that says “scan, bag, go”, which uses the computer vision and sensor fusion.
This allows the shopper simply placing the items in their basket and walking out of the store when done. These sensors also address the costly challenges of loss preventions and tracking of items picked to checkout.
Streamlining the Hyper-personalized experience
The brick and mortar stores are making their way to becoming the more personalized ones with high-touch, interactive services and experiences with products and staff.
The IoT is nearing to transform the physical stores into hi-tech ones that offer rich, dynamic interactions and virtual experiences.
Sooner we will have them turn into flagship showrooms where customers interact with the products and expect hyper-personalized experiences.
For instance, a fashion retailer adopted the IoT to provide its customers the screen offering personal styling experience offering while they swipe the dresses and find their “the one”.
Helping find the potential of the brand
The customer’s journey has been the talk for the retailers since decades and now this “journey” is not just a metaphor but a way for the retailers to find the interests and potential of their brand. The digital sensors enable personalized shopping experiences for their customers in-store and also after they leave sometimes.
The chip-embedding clothing plans have been making waves in the clothing industry, where the customers can earn points for wearing the chip embedded clothes at specific locations.
This will certainly allow the brand to understand how their customers are truly using the product.
Besides this, the retailers are increasingly exploring the ways to provide their customers the support and help right at the moment they need in the store. This allows the customers to seek help by just pressing a button in an app rather than searching for the call station in the store.
The “door-step” delivery
Like online shopping, now the retailers also have applied the door-step delivery concept for the comfort of their customers.
We do have something interesting coming up with IoT-retail pair, which certainly will omit the human ordering. It now happens to be that your refrigerator can directly connect with the retailer, and order the food.
Not just the refrigerator, the sensors on the pantries and/or on the products can automatically re-order the groceries whenever emptied or needed. These innovations with technologies are providing a customer with a very seamless experience.
Decreased product returns
Reverse logistics are surely frustrating for both customers and retailers. While the customers at the front end can simply return the product and wait for the right product, relatively the things get complicated for the retailers at the back end.
The IoT technology diagnoses and prevents the product issues beforehand reducing the likelihood of product returns and the expensive return costs handling.
This way the customers less likely return the products, which benefit the customer value and preserve the retailer revenues.
Now, we see how the retails are transforming into a smart store with their customers expecting them to provide comfort at most.
Well, it just a beginning and the “IoT-retail” pair is going to go really far offering the customers the experience and comfort of shopping they always wanted or desired of.
Almost 79% of the retail organizations have adopted the IoT technology and 77% among them are making their way to smart transformation.
Besides enhanced customer experience, the IoT technology equips the retail organization with the benefits of security, risks, and vulnerabilities.
There are a lot of retail mobility solutions coming up for the retails to adapt to when incorporating the IoT technology to secure their network, user data and better understand their customers and their needs.