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  • Writer's pictureApiro Data

How Retail is benefiting by IoT (Internet of Things)

Updated: Oct 12, 2023

Woman in clothes store holding a tablet

McKinsey estimates the potential economic impact of IoT in retail to range from $410 billion to $1.2 trillion per year by 2025.

Today retailers can gain valuable information about their merchandise, products and customers from the data they collect by monitoring inventory movements and engagement.

All the data collected by the IoT platform, provides retailers with information about customer needs, preferences and highlights ways to increase customer interactions, improve services and increase sales.

Top 5 ways Retails are using IoT today

  1. Automated Checkout

  2. Smart Shelves

  3. Store layout optimisation

  4. Robot employees

  5. Supply chain optimisation

Top 5 benefits from using IoT in retail

  1. Personalised communications based on the IoT collected data

  2. Personalised discounts

  3. Optimised product usage

  4. In store and shipment wait time enhancement

  5. Improved customer service & engagement

According to IDC IoT spending will hit $1.4 trillion by 2021. All the data collected will have a tremendous effect on how we market products and services.

If you would like know more about how your business can benefit by implementing IoT service.

Get in touch now and let’s create something great together!

Nassia Skoulikariti

Founder/CEO Apiro Data

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