IoT in Retail

IoT technologies are being relied on by retailers to catch shoppers’ eyes and increase their sales in the process. The market for IoT retail solutions is slated to grow by approximately 20% in the coming year. The main reason for this increased demand is the digital signage as retailers seek new ways to keep their sales growing. Micro-processors and ubiquitous Internet connectivity has resulted in a technology transition in the retail world. Large number of IoT retail devices are being deployed and connected, and they have the ability to offer reports on various customer habits.

Features

Inventory Tracking and Management

Allerin provides you with the latest tools of IoT which help your retail business to track and communicate with products. RFID tags hold more information and can be identified easily by the system. They are able to send information about temperature, weather, damage to the object etc. GPS location can be built into products, so the exact location of every item can be known. This decreases the number of lost and stolen products to a great extent.

Consumer Engagement

The greatest advantage of IoT is that it provides retailers with insights into customer behaviour that enables them to engage their customers more by creating personalized experiences. As more customers interact with IoT enabled retailers, their expectations grow higher. Retailers need to keep up with the trend or risk losing out on customers.

Buyer Intelligence

Alllerin’s solutions for IoT retail help the buyer track their purchases and maintain a record overtime so they know exactly what to look for when they visit your store. RFID tags on products allow buyers to get to know about the placement of products, saving them from being stranded in the store looking for the products they want. This also helps build loyalty towards the store as the buyer’s valuable time is being saved.

Mobile Payments

Smartphones today have the ability to support transfer of money through mobile wallets and banking apps. Allerin’s technology helps you possess the suitable tools to enable customers to make payments through their mobile devices in the most secure way possible.

Product Enhancements

IoT solutions by Allerin enable you to track customer preferences and get familiar with their buying habits. This allows you to enhance your products according to the needs of consumers. You can tweak the products based on direct customer feedback (e.g. on social media) and indirect customer feedback (buying patterns across stores / geographies).

Customized Marketing

When you have large amounts of customer data at your disposal, you can use this data to pick out customer preferences and habits. As you are aware of their personal habits, you are able to offer customized marketing campaigns and suggest products to them that are in line with their preferences, resulting in a boost to your sales.