Retailing tech-centric with IoT
Posted On: February 17, 2020
Retail has not only come a long way not only from the Brick and mortar model to an E-commerce site but also in terms of technological advancement. Traditional retailing is now trending towards smart and intelligent retailing with the adoption of IoT. In the past, retail faced some cumbersome challenges like customer footfall, real-time monitoring, the hygienic ecosystem for growth and delightful customer experience. With the advancement of IoT and retail security solutions, we have effectively sorted these challenges.
The need for new models of retail
With the fast disruption of brick and mortar retail model, the retailers are now in the fast upgrading their models to compete with the giant E-Commerce players. This market has predominantly become a service-oriented field. By reducing the operational cost and delivering the best class service with effective inventory management remains the need of the hour to attain the Return On Investment. For this fast service, the retailer’s system has to be on the auto mode to deliver on-demand
According to one of the studies by Verizon
- 89 percent of early-movers in retail gain increased insight into customer preferences and behaviors from the Internet of Things.
- 77 percent of early movers in the Internet of Things in retail have created better opportunities in business collaboration and better customer experiences.
Customer footfall management with the help of cloud-based intelligent analytics can provide some good insight into the peak hour shopping analytics like how many people shopped at a particular time, the classification of these segment shoppers, what were their preferred shopping items. IotTprovides a competitive edge by people counting facility. Moreover, IoT provides a hint of consumer behavior like what do the customers do in the shopping area, their shopping habits by capturing the real-time data and helping the retailers to take the actionable decision in framing the marketing policies. The consumer’s are tracked by this technology by sensing the number of people present in the particular shopping area. IoT technology supports the retailers hugely in planning the campaigns right from front desk activities to the back office and customer support executives with the statistical analysis obtained from people counting.
Real-time monitoring has been one such issue faced by the retailers for a long time. With IGZY’s dedicated surveillance team, retail is ready to monitor any intrusion or threat 24/7. The advanced IP cameras relay the feed over a secure network. Superior equipment means better visibility. As soon as there is a perimeter breach in the premises, the smart sensors will alert the authorities and immediate action is taken for security assurance. The retail security solutions camera easily reviews or retrieve video for settling disputes and Insurance in case of any uncomfortable customer experience and further enhances the CX delight. So, any number of the stores are now monitored centrally by sitting at one place and retail turns out to be smooth experience for both the shoppers and the retailers.
The surveillance cameras give the shopping property an accessible view from IGZY’s app as well, so anytime monitoring is just a click away for the retailers. For a large chain of retailers, IGZY’s model supports a scalable solution for multiple branches. IGZY can scale the options up to 2500+ locations simultaneously. 95 degrees wide angle coverage with more than 2500 location coverage gives a huge sense of security mentally and physically and provides a confident platform for expansion of the business.
The retailers can easily maintain the hygiene of the brand by sustained monitoring of various parameters like if your brand parameters are followed across outlets; if the dress code compliance is followed by your employees. These small details can make or break the brand and can have a huge impact on brand labeling.
Training and Development
The smallest of the observations are captured by 24/7 live viewing by the IP Cameras of IGZY and gives the details of the customer interaction and staff behavior. The training and development department with minimum efforts can plan the training calendar based on these interactions. Not only the customers can be retained by tapping their behavior but also the more marketing campaigns be flagged with the frequently asked questions of the customers. This way it becomes easy for the retailer’s plan for repeat customers.
All the uniformity can be maintained across the branches and synchronized opening and closing be tracked. Retailers can get a bird’s eye view of the branch performance and plan the actionable reports on when the store opens, uniform adherence and mandatory SOP compliances with ease. This kind of video analytics in retail synchronises the entire business as a seamless function.IoT’s security solution cameras can understand what’s happening in all your branches from the comfort of your office.
All these data-driven targeted content engages the customers in a better way and drives the sales in a voluptuous manner. The marketing campaigns with promotional benefits reach to the customer on the basis of derived conclusions from technology. So, interpersonal communication between the marketer and the shopper is now a sophisticated field with this kind of gesture and measures.
The Final Words
IGZY gives a full-service as an all-inclusive approach offering the retailers a more reliable and secure option for physical security. Trusted by prominent retailers across India, this solution can be leveraged to scale up and secure any number of retail chains. All the key elements in a retailer list like inventory management, supply chain and logistics are well planned once the security issues are sorted.
IGZY’s IoT platform empowers you to monitor and measure deviations in the desired business environment and control all your smart devices through a smartphone app. So, explore the possibilities of IoT and connect to a smarter way of doing business. When technology provides futuristic solutions, planning, monitoring and execution domains in retail become the blueprint of the sustained business. Surveillance in retail adopts a futuristic approach to business. It is high time the retail industry transforms in competition to an online e-commerce business. Only IoT can give this leverage to leap ahead.
So, let’s start living a simplified digital retail experience today!