The Internet of Things is poised to reshape the retail landscape, unleashing a torrent of data that can help optimize inventory, improve stores and better engage customers. Yet many in the industry are seeking a guide to harnessing IoT technology.
Consider the challenges revealed in the new market study, The Internet Of Things In Retail: Great Expectations:
- Retailers want to connect with consumers via their personal devices (43%), AND offer new services based on the data (40%)
- 80% agree that the IoT will drastically change the way companies operate and the products they sell in the next 3 years, but more than half said their company has no idea how their operations will be affected
- 53% of those surveyed say their company’s leadership doesn’t even understand what the IoT is
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