Sensor | Beacon | RFID

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Gaining Deeper Insights into the Retail Customer Experience with IoT Devices

Until recently, the retail customer experience was an enigma. Businesses just didn’t have the tools to capture and make sense of the customer experience. At best, customer behavior insights were anecdotal, and at worst, went completely unreported. Behaviors like – Where customers spent time in the store, bottlenecks in the shopping experience, or if product displays were missed – couldn’t be effectively measured. That’s changing. Thanks to the rise of IoT devices – like sensors, beacons and RFID tags – the brick-and-mortar customer experience is becoming less of a mystery. Tools are available that capture rich data about customer behavior – from smart customer tracking systems, to interactive displays – and put those insights into retailers hands. In other words, IoT tools enable the collection of richer, more targeted data. Using Analytics solutions, these businesses can make sense of this new data to identify opportunities for better serving customers, driving sales and customer loyalty, and reducing friction from the shopping experience. How are businesses doing it? From RFID tags, to smart display systems, retailers are leveraging sensors, IoT devices and beacons to gather data about customer behavior and improve customer experiences.

Five IoT Use Cases, When Retailers Finally Get Around to IoT via Forbes

Five IoT Use Cases, When Retailers Finally Get Around to IoT via Forbes

Most retailers have been late to the IoT game, and they are now rushing to use IoT to address a variety of business needs. Author Nikki Baird, a retail industry researcher, lays out the five most common and compelling use cases for IoT in brick-and-mortar. In particular, Baird highlights how beacons, sensors and RFID tags have empowered retailers to reach out to customers in new and exciting ways. IoT, Baird notes, is also improving inventory management, sales, and customer experiences.

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A New Industry Has Sprung Up Selling

A New Industry Has Sprung Up Selling "Indoor-Location" Services to Retailers via The Economist

The Economist digs deep into the burgeoning new world of retail sensors. More and more companies are utilizing sensors to track customer’s smartphones in their stores. And the potential is clear: Sensors can help to identify opportunities that went unnoticed before. For example, a store might recognize that customers tend to move from Section A to Section B in the store; by moving those sections closer, the store could potentially experience a lift in sales. A more intensive approach, i.e. pushing hyper-personalized offers to customers’ smartphones, which raises questions of privacy, is also another option.

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Where is That Sweater You Want to Buy? High-Tech Tags Help Retailers Track It Down via Chicago Tribune

Where is That Sweater You Want to Buy? High-Tech Tags Help Retailers Track It Down via Chicago Tribune

RFID, or radio frequency ID, tags have been in use for the last decade. But today, these high-tech tags are reaching their full in-store potential. RFID tags are empowering retailers to transform inventory management. Lululemon Athletica, for instance, launched a buy-online, pick-up in store pilot program two years ago – and half the orders had to be canceled due to inventory issues. Thanks to RFID tags – which help retailers track inventory in real-time – Lululemon has dropped canceled orders to just 1-4 percent. Plus, innovative detection systems have begun to provide brick-and-mortar retailers with customer behavior data that’s almost as precise as what online retailers are able to collect.

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Why Retail Giant Coca-Cola Is Using IoT Connected Vending Machines via Internet of Business

Why Retail Giant Coca-Cola Is Using IoT Connected Vending Machines via Internet of Business

Coca-Cola, the world’s most recognizable brand, is no stranger to IoT. In fact, Coke launched the first web-enabled vending machine in the 1980s. Today, nearly one-third of Coke’s vending machines are web-enabled, and according to Coke’s CTO Jane Gilmour, the IoT vending machines show big promise for the corporation. Firstly, they improve inventory management – the company can see in real-time which drinks sell the best, what times are busiest, and inventory status. Plus, by connecting vending machines to the web, Coke can let customers connect to their rewards accounts to reinforce loyalty.

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From AR to Robots, We’re Finally Getting the Store of the Future via Wired UK

From AR to Robots, We’re Finally Getting the Store of the Future via Wired UK

The use cases for IoT in retail sound like science fiction. But as Wired UK highlights, many of these IoT use cases are now becoming reality. Take IKEA: Using augmented reality, the furniture retailer allows you to visualize a piece of furniture items in your home, an innovative approach to buy-and-try. And Farfetch, a clothing retailer, has integrated smart mirrors in their fitting rooms that use algorithms to help you find like items; Farfetch says they want to transform fitting rooms into “discovery portals.” The article also touches on robots, smart shelving and self-checkout, with examples of retailers who have embraced these technologies.

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TEAM CLUTCH PROMISE

Transform Your Brick-and-Mortar Shop with IoT. Team Clutch Can Help. We Empower Retailers to Leverage BigData, Analytics and Cloud Solutions to Gain Deeper Customer Insights In Physical Stores.

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