The Future of Brick and Mortar, Now.
Amazon Go the Grocery Store with No Checkout Lines.
It is a spin on brick and mortar retail. It uses computer vision, a whole bunch of sensors and deep learning to let you walk into a store, sign in with an Amazon Go app., fill up your bags and leave without stopping for a checkout line. Amazon calls it, "Just Walk Out Shopping". The company is starting out with a large store in Seattle, but it is clearly meant to serve as a model for other locations and retail stores.
Virtual Wardrobe for Fashion Retail.
The development of new and engaging touchpoint opportunities is being accelerated by technologies such as augmented reality (AR), Near Field Communication (NFC), IPTV, and “SixthSense” technology. These new interaction technologies are evolving with stunning speed, making it a challenge for retailers to sort through, understand, and respond to the touchpoint opportunities they represent.
Key applications of IoT for retailers, include supply chain, connected consumer and smart-store applications. Essentially, there are five areas where retailers are deploying the IoT edge:
1. Predictive Equipment Maintenance
For example, every supermarket has a whole lot of complex refrigeration equipment. When these units are inbuilt with sensors, temperature fluctuations can be monitored so as to ensure food safety.
2. Merchandise Management
The use of GPS to track and route trucks carrying merchandise is a smart transportation application that enables retailers to optimise logistic management flow for higher productivity.
Warehouse automation and fulfillment that is based on real-time demand (i.e., purchases made by customers) occurring at brick and mortar shops, as well as e-commerce stores. and robotics driven by online and in-store shopping demand.
4. Digital CRM
Customer profiling to match their wants with the best deals available at any point in time. And, that is base on a proactive response to the customer's needs so as to incentivise a purchase.
5. The Smart Mall
In a smart mall, the mall traffic can be analysed across several retailers so to understand a customer's entire shopping journey. With the use of video or Wi-Fi foot-traffic monitoring, a retailer is able to analyse and deduce the kind of products that interest customers.