The retail industry has been undergoing a profound transformation with the advent of the Internet of Things (IoT). IoT is not just a buzzword; it’s a game-changer, offering retailers the ability to enhance the shopping experience, streamline operations, and gather valuable insights into customer behavior. In this article, we’ll explore how IoT is shaping the world of smart retail, its key applications, benefits, and the promising future it holds.

The Rise of IoT in Retail

Smart retail, powered by IoT, is about leveraging technology to create a seamless shopping experience that caters to the preferences and demands of today’s tech-savvy consumers. The retail industry is fiercely competitive, and retailers are turning to IoT to differentiate themselves and stay relevant.

Key Applications of IoT in Smart Retail

1. Inventory Management

IoT devices, such as RFID tags and sensors, can be placed on products and store shelves to monitor inventory in real-time. Retailers can receive alerts when stock is running low, prevent overstocking, and even track the location of products within the store.

2. Customer Tracking and Analytics

Retailers can use IoT to track customer movement within the store. Wi-Fi and Bluetooth beacons, for example, can detect customers’ smartphones, enabling retailers to gather data on foot traffic, popular shopping paths, and the amount of time customers spend in various sections of the store.

3. Personalized Marketing

IoT enables retailers to send personalized offers and promotions to customers based on their location and previous purchase history. This can be done through mobile apps or digital signage in the store.

4. Smart Shelves

Smart shelves equipped with IoT technology can automatically detect when a product is running low or approaching its expiration date. This information can be used to trigger restocking and reduce wastage.

5. Automated Checkout

Retailers are exploring cashierless checkout options using IoT and computer vision technology. Customers can simply pick up items and walk out of the store, with the IoT system automatically charging their accounts.

6. Supply Chain Optimization

IoT provides real-time tracking of products throughout the supply chain. Retailers can monitor the location and condition of products in transit, helping to ensure products arrive on time and in good condition.

7. Energy Efficiency

IoT systems can control lighting, heating, and cooling in the store based on occupancy and environmental conditions. This reduces energy consumption and costs.

Benefits of IoT in Smart Retail

The integration of IoT in smart retail offers numerous advantages:

1. Enhanced Customer Experience

IoT technologies can provide a more personalized and convenient shopping experience. Customers receive tailored recommendations, can find products more easily, and enjoy seamless checkout processes.

2. Inventory Accuracy

Real-time inventory tracking ensures that products are available when customers want them, reducing the risk of stockouts and overstocking.

3. Improved Operational Efficiency

Retailers can streamline store operations, from restocking to energy management, resulting in cost savings and reduced waste.

4. Data-Driven Decision Making

IoT provides retailers with valuable data on customer behavior, allowing them to make data-driven decisions regarding store layout, product placement, and marketing strategies.

5. Competitive Advantage

Retailers that embrace IoT gain a competitive edge by providing a more advanced and convenient shopping experience.

6. Enhanced Security

IoT systems can improve security by monitoring the store environment, helping to prevent theft and accidents.

Challenges and Considerations

While IoT in smart retail offers numerous benefits, it also poses challenges and considerations:

1. Data Security and Privacy

Collecting data on customer behavior raises concerns about data security and privacy. Retailers must ensure that customer data is protected and used responsibly.

2. Cost of Implementation

The initial cost of implementing IoT technology can be a barrier for some retailers, particularly smaller businesses. An assessment of the return on investment is necessary to justify the expense.

3. Standardization

IoT devices and systems must be compatible and standardized to ensure seamless data exchange and integration. Common protocols and standards are essential for achieving this.

4. Workforce Training

The successful adoption of IoT in smart retail often requires workforce training and a cultural shift within the organization.

The Future of IoT in Smart Retail

As technology continues to advance, the future of IoT in smart retail looks promising. Here are some trends and developments to watch for:

1. Enhanced Customer Insights

Retailers will leverage AI and machine learning to gain deeper insights into customer behavior, preferences, and shopping patterns.

2. Augmented Reality (AR) and Virtual Reality (VR)

AR and VR will play a more significant role in the shopping experience. Customers can use these technologies to visualize products in their homes before making a purchase.

3. Contactless Shopping

Contactless shopping options, including autonomous stores and drone deliveries, will become more common, reducing the need for in-person interaction.

4. Sustainability

Retailers will use IoT to monitor and reduce their environmental footprint. Sustainable practices, such as reducing energy consumption and minimizing waste, will gain traction.

5. Ethical Use of Data

Retailers will focus on the ethical use of customer data, providing transparency in data collection and usage to build and maintain trust.

Conclusion

The Internet of Things is revolutionizing smart retail by offering a more personalized and efficient shopping experience. Challenges related to data security, cost of implementation, and workforce training must be addressed to ensure that the benefits of IoT in smart retail are fully realized.

As IoT technology continues to evolve, it will remain a driving force in smart retail, offering a glimpse into a future where technology and data are seamlessly integrated into the shopping experience, enhancing customer satisfaction, operational efficiency, and sustainability in the retail industry.

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In the bustling world of retail, managing stock effectively is not merely an operational need but the lifeblood of business success. Having a holistic view of all assets is critical for any business that relies heavily on its stock and equipment for generating revenue, such as retail stores. Whether a physical brick-and-mortar clothing shop or an online e-commerce store, it’s important for retailers to have greater visibility of their assets. With data from Techtivity reporting that the retail industry witnessed a staggering loss of $300 billion in revenue due to poor inventory management in 2019, the vital role of effective asset management in the retail sector is clearly established. One key component of this essential process is asset tracking, a practice that holds immense potential to revolutionise how retailers manage their inventory.

Understanding Retail Asset Tracking and IoT Technologies

Asset tracking is a method used to monitor the location, quantity, and status of assets, which, in a retail context, typically refers to the products being sold. The tracking process involves knowing when items will arrive from suppliers, how many items are in store, and using this data to make informed decisions about what and when to order. Retail businesses need to track products while also keeping their pricing strategy in mind.

With the steady digital transformation of retail, it’s projected that by 2031, an immense 57% of global retail sales will stem from online shopping. This trend underscores the urgency for the retail industry to optimise the customer journey from initial interaction to final purchase, a feat achievable through effective retail asset tracking solutions.

Leveraging cutting-edge IoT technology, such as RFID, and retail Asset Tracking Software, retailers can monitor an asset’s entire life cycle. The primary aim is to amplify the customer experience, but the benefits don’t stop there. Asset tracking enhances stock control, mitigates the risk of lost and stolen assets through asset tagging — a key strategy in combating ‘shrinkage’ — and heightens the precision of inventory management. The outcome is a reduction in labour demands and an elevation in product availability. Collectively, these factors emphasise how retail asset tracking tools are a judicious approach to trimming costs and bolstering profits.

The Importance of Asset Tracking in Retail

According to a report by the IHL Group, global retailers lose nearly $1.75 trillion annually due to overstocks, out-of-stocks, and returns. These issues are largely preventable with an efficient asset tracking system. An asset tracking system enables real-time visibility into the inventory and stock levels and availability, reducing the likelihood of stock-outs and overstocks. It allows retailers to anticipate demand, adjust orders accordingly, and ensure the right products are always available at the right time.

Moreover, it provides valuable data for analysis and decision-making. Retailers can identify sales trends, optimise product placement, and make informed purchasing decisions. In a study by McKinsey, companies that leveraged data-driven insights saw up to a 23% increase in revenues and a 19% reduction in costs.

Asset tracking systems also play a pivotal role in enhancing the omnichannel retail experience, delivering a seamless transition from brick-and-mortar stores to online platforms. With real-time tracking, these systems ensure that stock levels are consistently updated across all channels, providing customers with accurate inventory information whether they’re browsing in-store or online. When a customer orders a product online, the system instantly reflects the reduced stock level, preventing overselling and maintaining inventory accuracy. Moreover, these systems facilitate the increasingly popular “Buy Online, Pick Up In-Store” (BOPIS) model. Once an online order is placed, the system can pinpoint the exact location of the item in the store or warehouse, enabling quick and efficient order preparation. Thus, asset tracking systems streamline the retail process, making it convenient for both the retailer and the customer, enhancing the overall retail experience.

The Core Benefits Asset Tracking Technologies Will Bring to Retail Businesses

Improved Inventory Management Resulting In Lower Unnecessary Costs

One of the foremost benefits of implementing asset tracking solutions in retail is the enhancement of inventory management. A study revealed that out-of-stock situations alone, exacerbated by poor inventory management, cost retailers approximately $634.1 billion in lost sales annually. Asset tracking technology can prevent such losses by providing real-time visibility of inventory, ensuring accurate stock levels, and preventing overstocking or understocking scenarios.

By using technologies such as RFID and IoT devices, retailers can monitor the real-time location and status of their inventory items. This facilitates quicker restocking of popular items, thereby reducing instances of stockouts, and consequently improving customer satisfaction. Moreover, it also prevents excessive investment in slow-moving items, thus optimising the use of warehouse or shop floor space and capital.

Improved Customer Experience Through Fulfilling Available to Promise and Better Delivery Times

Retailers today operate across multiple channels, such as online stores, mobile apps, customer service, and buy-online-pick-up-in-store scenarios. In this context, real-time inventory visibility becomes crucial. Any discrepancies in inventory data could lead to delayed shipping times and, consequently, cancelled orders, resulting in a poor customer experience. Real-time inventory visibility refers to presenting ‘Available to Promise’ (ATP) inventory across the retailer’s supply network to all order capture channels. ATP represents the stock a retailer can promise to the customer and takes into account the total supply from all fulfilment locations and the total demand from various channels, factoring in safety stock and capacities.

The key benefits of real-time inventory visibility include improved customer satisfaction, better response times, and improved performance metrics. Most top retailers are adopting real-time inventory visibility to enhance the customer experience and improve brand loyalty.

Enhanced Loss Protection for Inventory

Asset tracking solutions also play a vital role in reducing shrinkage, a significant problem in the retail industry. According to the National Retail Federation, inventory shrinkage accounted for 1.62% of sales in 2019, equating to almost $61.7 billion. Asset tracking can help mitigate these losses by providing comprehensive visibility and control over assets.

Innovative tracking technologies like NFC (Near Field Communication) tags have the capacity to identify unauthorised relocation of inventory, immediately notifying store personnel of potential thefts. Additionally, the deployment of this technology can act as a deterrent for potential thieves, leading to a further decrease in shrinkage. As a result, by reducing losses, retailers can boost their profitability and positively impact their bottom line.

Streamlined Supply Chain

By providing real-time visibility, asset tracking solutions can streamline the entire supply chain, from the warehouse to the store shelf. This can result in significant time and cost savings. According to a report by Zebra Technologies, 72% of retailers plan to reinvent their supply chain with real-time visibility enabled by automation, sensors, and analytics.

With asset tracking, retailers can monitor the progress of goods throughout the supply chain, identify bottlenecks, and implement corrective measures promptly. This can reduce delivery times, enhance supply chain reliability, and result in better customer satisfaction.

Summary

In conclusion, the benefits of utilising asset tracking solutions in retail are manifold. By improving inventory management, reducing losses, optimising asset utilisation, streamlining the supply chain, and enhancing the customer experience, these technologies can help retailers achieve higher levels of efficiency and profitability. As retail businesses continue to navigate an increasingly complex and competitive landscape, the adoption of asset tracking solutions will undoubtedly be a critical factor in their success.

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Atmosic’s wireless technology minimizes battery consumption and maintenance costs in connected devices.

Today Atmosic Technologies, an innovator in energy harvesting wireless platforms for the Internet of Things (IoT), and ETAG Tech, an leader in ultra-low power and high-performance electronic shelf labels (ESLs), today announced a partnership to bring Atmosic’s ultra-low power wireless solutions to ETAG Tech’s ESL portfolio.

ETAG Tech is using Atmosic’s ATM2 system-on-chips (SoCs) for several ESL designs and will be incorporating Atmosic’s ATM3 SoC in future designs to take advantage of energy harvesting technology.

David Su, CEO of Atmosic, said:
“By helping to solve the battery problems associated with electronic displays, we anticipate that ESLs will see much wider adoption across the retail industry and other sectors. Not only does Atmosic’s technology cut down on the cost of replacing batteries, but it also reduces the maintenance time needed for fleets of ESL display deployments.”

ETAG Tech selected Atmosic’s ATM2 series over a proprietary implementation since Atmosic’s solutions have best-in-class power savings. The ATM2 series is Bluetooth 5 standard-compliant and integrates Atmosic’s Lowest Power Radio technology to reduce power consumption low enough for ESLs and other connected devices to last years on a single battery, without needing replacement. ETAG Tech is also looking at deploying the ATM3 series in its next generation of ESL designs to take advantage of Atmosic’s Controlled Energy Harvesting technology, which can harvest energy from ambient light. The same SoC can also harness from other sources including radio, mechanical/kinetic motion, and even thermal sources to further reduce battery consumption. In some cases, Atmosic’s ATM3 series can enable devices to operate without any batteries at all.

Mr. Xia, CEO of ETAG Tech, said:

“Atmosic’s ultra-low power ATM2 SoC solution makes ESL products more robust in terms of interactivity and speed, in addition to removing the need for battery replacement. Atmosic’s technology is also easy to integrate into a range of ESL sizes and designs.”

Today ESLs are most popular in retail environments, but there are many industries where ESLs are useful including healthcare, manufacturing, enterprises, travel, and more. ESLs allow companies to update information in real-time and better manage inventory, without the hassle of constantly replacing paper signage and stickers. ESLs are also much cost-effective than LCDs and tablets, making ESLs ideal for environments where hundreds or even thousands might be on display in a store or other environment.

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SmartHub delivers actionable intelligence to improve both security and sales.

Sequans Communications S.A., leading provider of cellular IoT chips and modules, and FlorLink, IoT technology and solutions provider, collaborated on FlorLink’s new SmartHub retail solution, which is now connected to the cloud by Sequans Monarch cellular IoT connectivity technology.

SmartHub includes a large suite of sensors that can monitor multiple sales floor conditions and send customized notifications to sales floor associates on their mobile devices, thereby instantly improving security and increasing sales opportunities.

“The FlorLink SmartHub is well-designed and delivers on its promise to streamline retail operations,” said Louis Chuang, VP of Sequans’ massive IoT business unit.

“We are very pleased to work with the FlorLink team integrating our Monarch technology into their new SmartHub that is destined to become a very important and valuable retail IoT solution.”

FlorLink’s SmartHub is designed to be the brains of the retail sales floor. The SmartHub collects incoming alerts from cameras and motion detectors, call buttons, customer smartphones, online orders, and environmental sensors, and then sends alerts to a variety of communication devices, including staff tablets and smartphones, digital signage, or in-store paging. All in-store event data is then sent to the Microsoft Azure cloud portal via the Sequans Monarch connectivity solution. The SmartHub has been certified by a leading North American mobile operator, and previous versions of the device have been installed in major retail chains throughout North America (US and Canada).

“We are very excited to see our SmartHub becoming a truly universal solution now that it is connected via ubiquitous and ultra-reliable cellular,” said Mark Barnes, FlorLink CEO. “We chose Sequans’ Monarch technology because of its ease of integration, and because of Sequans’ proven track record in cellular IoT and great customer support, which enabled us to bring our Monarch-enabled SmartHub to market in record time.”

Monarch 2 GM02S is the industry’s most advanced LTE Cat M1/NB1/NB2 connectivity solution. It is based on Sequans’ second-generation Monarch 2 chip platform, which is designed and optimized to support massive IoT. Monarch 2 provides significant improvements in performance and power consumption, while providing seamless migration for Monarch 1 customers because it is based on Sequans’ existing LTE-M/NB-IoT protocol stack—one of the most mature and proven in the entire LTE ecosystem.

Monarch 2 GM02S features a very small yet cost-effective form factor and it is an ideal connectivity solution for a wide range of IoT applications, including utility meters, sensors, trackers, and wearables for applications including smart home, smart city, ehealth, industrial, retail, agricultural, financial, and security.

According to Allied Market Research, the demand for IoT solutions in the retail market is growing rapidly and expected to reach $177.9 billion by 2031, with a CAGR of 20.3% from 2022 to 2031.

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The retail industry has been completely transformed by technology over the last number of years.

From the way that stores operate internally on a day-to-day basis to how consumers shop for and buy products to marketing strategies, the world of retail is a completely different animal from what it once was. While access to the internet, ever-evolving software packages, smartphones, and new technologies have had a huge impact on the retail industry up until now, smart technologies like IoT, are set to have a massive effect moving forward.

IoT is an acronym for the Internet of Things, which is made up of software, hardware, systems integrations, data services and access to more advanced telecommunications services than ever before. At its very core, the Internet Of Things revolves around how our devices and technologies are interconnected and the ways that they interact with one another, as well as with us the users. The IoT has the potential to solve countless problems in a range of industries with new innovative solutions and the retail industry is no exception.

Let’s take a look at how the Internet Of Things, as well as other digital technologies, will impact the retail industry moving forward.

Staff Management

As a retailer, it’s crucial that you manage your staff as efficiently as possible. Without enough staff to meet the needs of your business, your retail business will ultimately fail. Using IoT to handle staff scheduling for retailers has become increasingly possible in recent years. Business owners can simply create schedules online and then send the most up-to-date staff schedules directly to their employee’s mobile devices. Employees can often clock into work from their device using GPS location to prove that they are in fact at work and on-site ready to work. This integration of technologies has completely changed the game for retailers when it comes to managing their teams and will continue to play an important role for retailers when it comes to managing their retail teams moving forward.

Inventory And Supply Chain

Many traditional retail stores already use smart shelf technology to monitor their inventory levels. With this innovative approach, store managers can access real-time details and reports regarding what products they have in stock as well as sales levels. These systems utilise RFID (radio-frequency identification) technology to deliver the most accurate results. With these systems, an RFID tag is attached to each product and an RFID reader is then used to read and transmit the details of the tag to the IoT platform via antennae where the information is then processed. This allows retailers to monitor inventory levels throughout the entire supply chain putting them back in control of their retail business moving forward.

Targeted Notifications

Retailers are also making use of IoT technologies when it comes to marketing. Sending out targeted event details, discount vouchers and other offers to consumers’ smartphones within a particular geographical area, allows retailers to target consumers that are likely to be interested in their offerings, directly. When customers receive these messages, they are more likely to venture in-store to take advantage of whatever deal the retailer is offering. Whether it’s discounts, sales, special offers, events, contests or on-the-spot promotional campaigns, retailers can reach out directly to the consumers in the area that is most likely to be interested and to take action.

Cashier-Less Checkouts

Many major supermarkets have already started to implement cashier-free checkouts with great success and it’s only a matter of time before this technology begins to be seen in other types of retail stores. Using a combination of camera, apps, and point-of-sale systems, customers are able to go to the checkout to complete their purchases without any human assistance. In time, AI systems will help to take this process to new heights and even identify when shoplifting or other suspicious behaviour is taking place both throughout the store and at the checkout. These systems will also be integrated with inventory and supply chain management systems, giving retailers an all-in-one solution that centres around IoT technologies.

Facial Recognition

Facial recognition software is already being used in shopping malls and large supermarkets around the world for security purposes and this technology is improving all of the time. However, in the future, we could see facial recognition systems being used to increase customer engagement through digital signage displays. When a particular customer is identified by the store, the displays will be able to push different signage that will appeal more to that individual, levelling up their in-store experience and increasing the likelihood of them finalising a sale.

The Future Of Retail Will Rely On Digital Technology Moving Forward

While the retail industry already heavily utilises digital technology, moving forward, we can expect it to play an even bigger role in retail stores of all shapes and sizes. With so much to be gained from these ever-growing technologies, like IoT, it’s only a matter of time before more retailers explore the possibility of what digital tech has to offer.

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European retailers are some of the world’s earliest adopters of electronic shelf labels (ESLs) to reduce operations costs as a foundation for retail digitalization.

Now at this week’s EuroCIS 2022 trade show, the new IoT platform All-Star is being released and introduced by the digital solutions provider Hanshow, poised to drive Europe’s brick‐and‐mortar retail into a new era of efficiency and profitability.

Entering the European market in 2016, Hanshow has been a major driver of this transformation with now nearly 100 million ESLs installed on the continent. This time at EuroCIS 2022, Hanshow is displaying a range of new solutions from AI-powered shelf monitoring to self-checkout trolleys and in-store marketing, constantly shaping smart stores of the future.

Chief among the new technologies presented by Hanshow at EuroCIS is the IoT platform All-Star, focusing on the retail industry and designed specifically to help retailers to expand and upgrade their digitalization. All-Star provides one-stop IoT solutions from IoT device management to digital operations upgrades, empowering retail customers to quickly establish IoT equipment management capabilities and be able to flexibly build business applications and integrate customized business connections to further boost operation efficiency of smart stores and elevate in-store experience of the customers, ranging over key functions of pricing management, inventory management, picking, geolocation, dynamic pricing, promotion boards, interactive marketing, digital payment, passenger flow analysis and automatic monitoring patrol.

The All‐Star platform thus works as an integrated system for the management of a store’s entire digital devices, providing SaaS and private deployment solutions, both of which support unified user authentication and third-party application access integration with an open API based on HTTP. Correspondingly, one of its key product innovations is to solve the new challenges arising with the amount of IoT devices all operating on different networks and communicating on different transmission signals, as one store may require a handful of login systems with operations personnel trained in each. Therefore, each retail solution management platform may now be accessed through All-Star for a holistic integration of all the core business operation processes, significantly simplifying the maintenance of these devices.

In tandem with the All-Star system, Hanshow has also developed an industry-first communications protocol that uses one transmission frequency to communicate with all Hanshow IoT devices, easing the burden on the range of signal frequencies previously needed.

Shiguo Hou, said:

“Hanshow has developed All-Star and the rest of its solutions specifically with global retailers in mind to achieve a more holistic form of digitalization. These new solutions, software, and transmission technologies all combine to help retailers in Europe move into an exciting new era of digitalization. This unlocks great new opportunities. We’re just seeing the beginning of what’s possible.”

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Kerlink¹, and Clickie², today announced their smart-store solution is being deployed in more than two-dozen stores in Chile owned by Latin America’s largest convenience store chain, OXXO.

Clickie’s system, which can be deployed with no disruption to store operations, can reduce store energy consumption by up to 20 percent, reduce the annual CO2 production by more than 240,000kg and increase useful lifetime of in-store equipment by 25 percent.

OXXO, part of Grupo FEMSA, has nearly 20,000 convenience stores in five Latin American countries.

Clickie’s system combines LoRaWAN® technology, management tools and economic-behavior theory to monitor businesses’ critical operational variables in real time and deliver timely information capable of optimizing the way resources, such as electricity, are used.

Kerlink, a leading provider of solutions for designing, launching, and operating public and private LoRaWAN® IoT networks, offers a comprehensive product portfolio of leading industrial-grade network equipment, best-of-breed network-core, operations and management software and value-added applications. In these Chilean smart-store deployments, it delivers its Wirnet iFemtoCell or iFemtoCell-evolution, its robust indoor carrier-grade gateways, along with Wanesy Management Center, its complete, modular solution that runs, monitors and manages entire IoT networks.

Nicolás Llévenes, Clickie’s chief commercial officer, said:

“Our system enables complete monitoring of structure heating, cooling and lighting, as well as of refrigeration equipment in the stores, and it gives managers full control on their operation, including remote management.”

“Clickie chose to partner with Kerlink for these deployments because of its record of providing reliable-and-robust indoor gateways which, combined with Wanesy Management Center, offer our customers future-proof local IoT networks.”

“Kerlink’s smart-store solutions are being used in countless businesses, stores and shops around the world because they allow shop owners and managers to control assets and energy use, cut costs and reduce their carbon footprints,” said Josic Thepaut, Kerlink sales manager for the Americas. “These deployments in Chile with Clickie also prove that smart-store solutions can be quickly and easily implemented, with no disruption of day-to-day business operations.”
 

Benefits of Clickie’s Smart-Store Solution

Electrical equipment management

Continuous monitoring of energy usage allows detection of critical points of consumption and key management opportunities:

• Scheduled operating hours
• Equipment or appliances that record energy consumption during the store’s closing hours can be programmed to shut down automatically, thus reducing unnecessary usage and extending their useful lives.
• Out-of-range alarms
• Alarms that trigger when excessive consumption is detected identify when and where consumption peaks occur. This facilitates management of energy demand.
• Automation
• Clickie’s automation service gives store managers control of their devices from the platform, such as the possibility of managing room temperature remotely.

Room temperature management

OXXO manages to effectively maintain an optimal room temperature in all its stores, thanks to the temperature management tools connected to the platform.

• Smart thermostat
• Clickie provides advanced control of air conditioning units, to automatically and remotely adjust modes and temperature level based on customer comfort parameters.
• Automatic On/Off
• Using the platform, the air conditioning is programmed to turn on half an hour before and turn off half an hour after the store’s business hours.
• Custom schedule
• Clickie allows the creation of custom schedules to turn on air conditioning on certain days and automate operating hours. Powered On Monday through Friday, powered Off on Saturdays and Sundays. Any timetable is allowed.

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Circular fashion pioneer company lablaco and H&M Mitte Garten store in Berlin inaugurated together the new Internet of Things (IoT) based technology this October, offering customers to exclusively rent and swap a special collection.

Today, Sony Artist Emily Roberts will perform an exclusive concert at the H&M Mitte Garten Store in celebration of the launch of the new rental service. As one of the ambassadors for the service, along with influencer Nubian Smith and Elisa Schenke, Emily will show the fun and flexibility rental pieces can bring to everyone’s wardrobe.

The rental service is based on SPIN – circular fashion platform by lablaco. With this collaboration H&M Mitte Garten and lablaco want to explore the potential of rental services within the new connected and digitized circular fashion industry.

With one click, the garment is booked and paid – and ready to be worn. When the garment is returned to the Store, it will be checked, cleaned and prepared for the next rent.

“I am very excited to exclusively try out this blockchain based rental service in our Berlin Mitte Garten Store. We have a unique community and customer base – they love to explore new things, to experiment with their style and looks in a fashion-forward, sustainable and affordable way.” says Stiliana Stoyanova PR & event manager Mitte Garten.

For the first time, H&M Mitte Garten store customers can scan IoT care labels of selected products with smartphones, not only to track multiple individual product journeys at item level on blockchain, but also to add memories and stories to the garments by uploading their looks.

“Each garment has unique stories. We can’t wait to see how H&M Mitte Garten community will create stories by “SPINning” their fashion.” says Eliana Kuo, Founder and Co-CEO of lablaco.

The rental service is available now until the end of the year. During this period there will be different collections available for the customers to rent. The first collection will compromise 12 different fashion pieces. The rental period ranges from 5 days to 3 weeks. The price per piece ranges from 5 EUR to 9 EUR per day. The account for SPIN is free of charge.

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The number of cellular IoT connections in the retail industry reached 72.4 million worldwide in 2019, according to a new research report from Berg Insight.

Cellular IoT technology enables devices such as POS terminals, ATMs, digital signs and ticketing machines to be used at new locations where fixed line connectivity is unavailable or impractical. The technology has a more transformational effect on markets such as vending and parking, where machine operators need to reorganize their operations in order to benefit from the availability of real-time information.

Berg Insight forecasts that the number of cellular IoT connections in the global retail industry will grow at a compound annual growth rate (CAGR) of 10.0 percent during the next five years to reach 116.6 million connections in 2024. Shipments of cellular IoT devices for retail applications will at the same time increase at a CAGR of 6.1 percent from 31.6 million units in 2019 to 42.4 million units in 2024.

POS terminals constitute the largest device segment and accounted for 91 percent of all cellular IoT connections in the retail industry at the end of 2019. The market for wirelessly connected POS terminals is however relatively mature, and most of the market growth is driven by the increasing use of electronic payments in emerging markets.

“The multi-space parking meter segment was one of the first vertical markets to embrace cellular IoT connectivity and has today reached the highest connectivity penetration of 60 percent”, said Johan Fagerberg, Principal Analyst, Berg Insight. In recent years, cellular connectivity has also found its way into the single-space parking meters market, which has become one of the fastest growing segments. Berg Insight expects that the vending machine segment will present a major opportunity for wireless connectivity in the long term.

Mr Fagerberg concludes:

“Today only 4.2 million of the world’s 15.0 million vending machines are online. Every vending machine will eventually be connected, but costs for the wireless IoT hardware and subscriptions still need to come down further before this vision becomes reality.”

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• IoT-enabled security cameras can make retail environments more efficient, customer-friendly and most importantly, more secure and safe
• AI applications can assist multiple retail sectors in enhancing customer experience and increasing sales conversions with actionable, intelligent data
• By connecting smart cameras with other systems in IoT, safety processes can be fully automated

Retailers around the globe are cautiously reopening their doors after facing perhaps the most challenging times in decades, while in some areas of the world the toughest times may still lie ahead. The short-term disruption caused by the COVID-19 pandemic is clear, but its impact on the future of retail operations is yet to be seen. This uncertainty is creating unseen challenges for retailers, who are looking to make smart investments in technology that will not become obsolete once health and safety guidelines and restrictions lift. Ultimately, retailers have had to be creative in finding ways to retain customers and keep them happy during these unprecedented times.

Many retailers have concentrated on implementing technologies primarily to mitigate risk from the ongoing pandemic. However, investing in a new breed of smart surveillance cameras today enables retailers to design a sustainable system with robust application offerings for multiple types of scenarios, both during the pandemic and as operations begin to normalize. These cameras can be equipped and re-equipped flexibly with various video analytics applications and be repurposed at any time to fit the most pressing needs of a business. Many retail stores have found themselves in uncharted territory over the past few months and would have welcomed if there had been a way for their security cameras to help address these new challenges. The key is to invest into new technology today to have the flexibility when it’s needed the next time.

With this in mind, Security & Safety Things (S&ST) outlines a few ways in which smart surveillance technology can support both short-term reopening measures and provide additional long-term benefits to retailers such as:

• Optimize inventory in stores and warehouses
• Increase sales conversions
• Enhance customer experience
• Streamline workflows

Video analytic applications can optimize operations by analyzing customer behavior and providing actionable insights to retail management. By assessing the amount of time customers spend in a store, managers can better plan for high traffic periods – increasing the number of staffed individuals or high-demand inventory items. If a store features a coffee shop, retailers are able to gauge the additional amount of time customers might linger in a shop, allowing them to plan for busy periods or potential bottlenecks. This also enables retailers to deploy other measures to optimize the shopping experience for customers.

Smart cameras can also assess highly trafficked zones, allowing managers to take advantage of upselling opportunities. Zone counter applications can be used for analyzing interactions with a particular shelf or area of a store. This enables managers to better manage on-hand inventory to meet customer demand. Smart cameras can also be connected to point of sale systems and, by combining video data with cashier data, enable retailers to analyze the correlation between store and even department occupancy and sales made – offering opportunities to optimize conversion rates.

Where additional safety and security measures are required, smart cameras with intelligent analytics can assist in notifying proper personnel about spills in aisles and other potential safety hazards, as well as immediately notify staff if a customer has fallen. Additionally, when equipped with object detection, the cameras can identify damaged goods in retail warehouses and manage inventory to prevent theft.

A security camera, which was previously only able to provide video data, can now also enable retailers to better understand their customers shopping habits and optimize business operations – offering far more than just a security or health safety tool. These cameras effectively become IoT sensors that can today be used for COVID-19 related topics and tomorrow be refitted to further improve building safety and visitor experience.

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Auchan Retail Portugal, one of Europe’s largest grocery retailers, and Trax, a leading provider of computer vision and analytics solutions for retail, today unveiled an agreement to deploy Trax’s suite of autonomous shelf monitoring solutions, including robots, across Auchan Retail’s entire grocery retail network of 34 supermarkets and hypermarkets in Portugal.

The project starts in the Auchan Alfragide hypermarket in Lisbon.

As part of the agreement, Trax’s autonomous robots, developed in partnership with German robotics company MetraLabs, will be progressively deployed in Auchan stores across the country. The robots will move around the stores up to three times daily to capture photos of every shelf and aisle, which are then digitized at scale, using Trax’s proprietary computer vision and Internet of Things (IoT) technology, and converted into reports with actionable metrics and insights. These reports are delivered via a mobile app to store staff, enabling them to analyze, prioritize and resolve shelf issues such as out-of-stocks and pricing compliance issues more quickly and efficiently.

Roy Moussa, SVP Commercial Retail Solutions at Trax, said:

“Computer vision and IoT in retail is transforming store operations into a data-driven and frictionless process. Trax’s partnership with Auchan demonstrates the confidence that top global retailers place in our industry-leading portfolio of in-store execution solutions, market measurement, crowd services and analytics to ensure every store is made more productive, profitable and future-proof, especially in these challenging times.”

Andre Vieira, Digital Director at Auchan Retail Portugal, said:
“Innovation, through the search for digital strategies focused on people and improving customer service is one of Auchan’s great bets. With the introduction of autonomous robots, Auchan wants to improve productivity in stores and optimize the supply chain, freeing employees to focus 100% on the mission of providing a better customer experience.”

Retailers and consumer goods manufacturers around the world leverage Trax’s in-store execution and retail analytics solutions to better manage on-shelf availability and optimize merchandising. These solutions are powered by proprietary fine-grained image recognition algorithms which convert photos of retail shelves into granular, actionable shelf and store-level insights. Besides autonomous robots, Trax also offers fixed on-shelf and ceiling cameras, as well as mobile app solutions, to monitor real-time shelf conditions.

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For most businesses, QR codes are nothing new. Major brands like Coca-Cola or Amazon have already incorporated QR codes into their packaging a long time ago- and are no doubt reaping the rewards of having them on their products.

However, with smartphone usage still rising, smart packaging is definitely the future. In fact, it is estimated that by 2023, the smart packaging market will be work a staggering $7.56 billion.

With the ability for anyone to make a QR code, smart packaging looks set to be a fixture on all of our shelves.

Here are a few examples of how brands have used QR codes effectively.

QR Codes Offer the Opportunity For Transparency

QR codes on the packaging of products are a great way of providing more information than you would usually be able to squeeze onto packaging.

Nobody wants to squint their eyes up while trying to read small writing on the packaging. Instead of trying to put lots of information onto packaging, you can bring up all of that information on your smartphone.

While you will still need to put essential information about what is in a product, and any legal requirements such as the calorie count; however, many brands will include information about ingredient transparency in their QR linked content. This could include allergies and facts about where the produce was sourced and much more.

QR Codes Offer Increased Brand Engagement

Using QR on your packaging is an excellent way of increasing and improving the way that your customer’s interact with your brand and products.

In addition to the specific product information such as ingredients, you can point your customers to customer rewards programs where you can promote your product further by offering discounts and vouchers. In addition to this, you can point your customer toward the nearest stockists so that they can buy more.

There are lots of other great ways that you can engage with your customers through QR codes. You can take them to product-related videos, or encourage them to download apps that offer more chances to engage.

QR Codes Bring About The Opportunity For Data Collection

If you want to keep engaging and re-engaging your customers, you need to know where you can find them in the future. It is all very well taking them to content via a QR code and enhancing their experience, but there is a real opportunity to get your customers to provide their contact details for direct future marketing.

By using customer reward schemes, competitions, discounts, and other incentives on your QR code, you’ll be able to engage your customers into coming back. Not only this but they will keep coming back.

QR Codes: The Future of Packaging?

With a rise in the use of QR codes over the last few years, there are growing trends towards integrating smartphone technology into the customers shopping experience and beyond. QR codes offer the ability to engage with customers in a whole new way.

The post The Future of Retail: Smart Packaging appeared first on IoT Business News.

Plug-and-Play SmartBoxes Enable Retail Outlets to Create Personalized Shopper Experience & Build Brand.

Kerlink and Smart Traffik, a retail-analytics solution provider for brick-and-mortar merchants, have built a responsive end-to-end LoRaWAN® system that enables retail outlets to create personalized shopper experiences and build brand loyalty by enhancing visitor in-store journeys and improving the phygital transformation of the point of sale.

Built with Kerlink’s Low Power IoT Reference Design, the system combines Kerlink’s Wirnet iFemtoCell-evolution indoor gateways and its Wanesy Management Center with Smart Traffik’s instore data analytics solution and plug-and-play SmartBox.

The two companies also built a Wi-Fi tracking anchor that anonymously collects store visitors’ smartphone signals in real-time. The system then records/tracks shoppers’ journeys in stores, including time spent at specific displays or in various sections. Its combination with other data provides store owners and managers with valuable retail intelligence that can be used to increase foot traffic and sales, as well as measure effectiveness of marketing campaigns, thus increasing loyalty.

“Many studies have shown that today’s customer wants to be valued and recognized,” said Smart Traffik CEO Laurent Simonin. “More than three out of four shoppers like it when they receive product offers or promotions based on their purchasing history from a retailer, indicating a desire for a more-personalized shopping experience.”

“This new retail-analytics solution designed and built with Kerlink will empower retailers to get the smart data they need to better engage with their customers.”

The system, which was announced during the LoRa Alliance® Members Meeting in Amsterdam, is an upgrade of Smart Traffik’s existing in-store analytics IoT that was based on the Global System for Mobile Communications (GSM) standard. Like that system, the new solution created by Kerlink and Smart Traffik is fully compliant with the EU’s General Data Protection Regulation (GDPR).

“Working with Kerlink helped transform the solution into an IoT LoRaWAN® solution, bringing cost optimization and more flexibility and allowing it to be future-proof and scalable with the possibility to flexibly add additional use cases in the mid-term,” Simonin said.

Guillaume Boisgontier, Kerlink’s innovative products & solutions marketing manager, said the system developed with Smart Traffik is part of Kerlink’s strategy to complement its hardware portfolio with end-to-end software-and-hardware solutions that serve concrete use cases and allow customers to quickly improve ROI.

“We launched that strategy last year with the introduction of four dedicated end-to-end solutions – smart facility management, smart tracking & logistics, smart asset monitoring & smart building – with the help of several partners,” Boisgontier explained. “Smart Traffik is a new partner with which we are working jointly on the design of a future-proof solution that is unique and positions Kerlink in a new and promising vertical, smart retail.”

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• The two companies plan to integrate Sprint’s Curiosity IoT platform and Wirecard unified commerce solutions to serve global clients
• The collaboration focuses on the retail segment, with plans to expand to other industries and services
• The collaboration has been facilitated in strategic alignment with SoftBank Investment Advisers

Sprint, a leading US communications services company and Wirecard, the global innovation leader for digital financial technology, today at CES 2020 announced a new relationship that will integrate Wirecard unified commerce solutions into Sprint’s Curiosity Internet of Things (IoT) platform to deliver the “Internet of Payments”.

The announcement was made at CES 2020. The two companies, brought together by SoftBank Investment Advisers, are collaborating to embed payment capabilities in IoT deployments, bringing added value to enterprise clients on a global scale.

Sprint’s Curiosity IoT platform represents a new standard in how enterprises manage and secure IoT devices and connectivity. The platform combines Curiosity Core, the first dedicated, distributed and virtualized IoT network, with Curiosity OS, an integrated IoT operating system, to bring networks to data collection sites and enable the future of commerce.

Worldwide IoT market revenue reached USD 212 billion in 2019, with worldwide expenditure projected to reach USD 1 trillion by 2022¹. Total, worldwide IoT connected devices are projected to reach 75.44 billion by 2025, a fivefold increase from 2015².

Wirecard unified commerce solutions drive the digital transformation of retail by delivering a seamless payment experience across channels and beyond borders. Sprint is integrating these capabilities into Curiosity IoT, and the companies are jointly exploring opportunities across various market segments, as part of a broader collaboration.

Sprint and Wirecard will initially focus on the retail segment, in which they are working to define and deliver the retail experience of the future, across all channels, with a unified commerce approach. The joint capabilities enable merchants to meet current and future customer expectations with an intelligent, connected buying experience.

“We’re pleased to integrate Wirecard solutions into our robust IoT platform,” said Ivo Rook, senior vice president, IoT & product development for Sprint. “This opens up many commercial opportunities, and also delivers an unparalleled commerce solution for our global clients and their customers.” He continued, “As IoT becomes even more central to how enterprises run, we look forward to identifying new opportunities and use cases for these technologies.”

“The growing internet of things will lead to new and innovative transactions, like directly between devices, and this collaboration will power such use cases.”

“Collaborating with Sprint is a tremendous opportunity to expand our collective reach and capabilities, plus meet a growing demand for commerce without barriers,” said Georg von Waldenfels, executive vice president of group business development at Wirecard. “Adding Wirecard unified commerce solutions to Sprint’s game-changing IoT technology is a significant step toward developing the shopping experience of the future and we look forward to all the possibilities this cooperation offers us.”

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From smart shelves to smart coffee machines, the internet of things (IoT) has become a game changer across every industry. In fact, according to Statista, the number of connected devices worldwide will hit 30.73 billion by 2020. And with 88% of adopters saying that IoT is critical to the success of their company^io, IoT devices are expected to top 75 billion by 2025ⁱⁱ.

Whether connecting new or existing devices, retailers are finding plenty of reasons to embrace IoT. Microsoft recently commissioned the IoT Signals Report which provides insights into IoT adoption rates across retail and other industries. It turns out that 92% of retail decision makers view IoT as critical to business success—and 96% say they are satisfied with the value that IoT has added to their company.

So, how are retailers using IoT to drive business results? Below, we’ll count down to the top IoT usage scenario for retailers. If you’d like to learn more, be sure to register for the upcoming IoT in Action in New York in January.

Number 5: Reducing energy usage

Energy consumption can be a major expense for retailers and as businesses look to trim costs and shrink their carbon footprint, they’re turning to IoT. Forty percent of retailers cite energy optimization as a top reason for adopting IoT.ⁱⁱⁱ

They’re turning to solutions such as ICONICS. This Azure-based, smart building solution centralizes disparate building management systems that control heating, cooling, lighting, and more. By applying advanced analytics, the solution helps deliver energy savings in multiple areas.

Number 4: Preventing product loss

In 2019, retailers reported an average inventory shrink of 1.38 percent.ⁱⁱ It’s not surprising that loss prevention comprises 44% of IoT use cases.^io IoT can prevent product loss by detecting missed items at checkout and preventing unpurchased products from walking out the door.

Number 3: Keeping shoppers and staff safe

Keeping customers and staff safe is another priority for retailers. Surveillance and security accounts for 48% of IoT use cases in the retail industry.^io IoT surveillance and security solutions monitor for suspicious behaviors, persons of interest, and potential safety hazards, sending alerts when issues are detected.

Number 2: Managing inventory

Tracking inventory levels and keeping products in stock can be difficult, expensive, and time-consuming. Which is why retailers are turning to IoT to optimize inventory, accounting for 59% of IoT use cases.^io

IoT can identify products and their location in real time and monitor and send alerts for inventory building up in dressing rooms. IoT can also scan display shelves for gaps and product positions and even send alerts for misplaced or mislabeled products.

Number 1: Optimizing the supply chain

The ability to track products throughout the supply chain has been a huge differentiator in every industry, and accounts for 64% of all retail IoT use cases. Real-time transparency into shipping status, location, delays, conditions, and more helps retailers to keep products on the shelves and keep customers happy.

Bosch has a massive OEM ecosystem that produces approximately half a billion parts daily, which means an efficient supply chain is critical. To increase visibility into the supply chain, Bosch created Trac360. Benefits of this IoT solution include shipping transparency and traceability, real-time insights, and automated warehouse operations such as GPS tracking, notifications, and invoice processing. The solution has increased customer satisfaction and warehouse productivity while also reducing inventory costs.

Attend IoT in Action in New York on January 13, 2020

Of course, there are plenty of other reasons that retailers are embracing IoT from optimizing store layout to creating more personalized promotions to delivering more seamless shopping experiences.

The post These are the Top 5 IoT Applications for Retailers appeared first on IoT Business News.

Imagine being able to provide customers with immediate responses to inquiries, integrating chatbots to answer questions when live agents aren’t available, and providing real-time reporting all in one place.

Implementing a call center in the cloud is just one example of how companies can better engage with their clients or customers — and forge better and stronger relationships with them in the process.

After all, you never want to leave your customers waiting, and with a cloud-based call center, that can quickly become a moot point altogether. These days, using chatbots, live chat, social media, phone support and other amazing technological advancements available to businesses allow them to better serve their audiences 24/7/365.

Here’s how various tech innovations have changed how companies engage with their customers.

Personalization 101: How You Can Build Stronger Ties with Your Customers

By creating a user-friendly and responsive website, companies can begin to easily leverage behavioral data to provide customers with relevant information. Tracking consumer behavior is extremely easy to do, given the technologies available to businesses today.

Offering product suggestions during checkout, FAQ pages on products and services and live chat support can easily be implemented when creating a website — and companies should make it a point to adopt and utilize these tools. Location-based personalization and product/service personalization are two key areas companies can also cash in on.

Leveraging these tools and creating a personalized experience for shoppers not only enhances consumer engagement, but also helps companies improve overall communication between customers and live agents.

Instant Gratification & Maintaining Your Consumer Base

The Internet of Things, all-in-one tools and integrative software has changed the way companies interact with customers. Simple features like instant service and delivery standards (from companies like Amazon), as well as intuitive tools like chatbots that can engage with customers — and quickly determine their needs — can deliver quality services we’ve never seen before.

These days, automated prescription refill requests and auto-order savings for customers who order groceries online and place recurring orders are among the many features companies can implement into their cloud-based systems.

Indeed, the more intuitive these systems are — and the more instant gratification they afford to customers — the easier it is to retain these customers and attract new prospects without having to spend exorbitant amounts of money.

The Customer Matters

Unfortunately, R&D is a critical area of business in which many companies drop the ball. Not listening to your customers’ needs and wants and/or failing to garner employee input can greatly hinder your ability to succeed. Today, companies have so much technology at their fingertips that there’s virtually no reason to continue operating at status quo.

As such, gathering consumer feedback through online reviews and product giveaways or trials, as well as allowing employees to offer their input, are just a couple of simple ways companies can grow and create products and services that will actually sell. Gathering these opinions in order to gain valuable insights and ideas are just a few simple ways companies can help to better understand customer frustrations as well as the products or services they’d like to see roll out.

Indeed, the IoT and various tech advancements allow companies to create the best product and service experiences for their customer base, without having to re-create the wheel.

Implementing the Latest Technologies for Advancement

There’s no shortage of ways in which the IoT, software and new technologies can be implemented by companies to better serve customers. Something as simple as adding an intuitive dashboard or offering product suggestions based on their past purchase or browsing history allows companies to better personalize customers’ brand experience.

Today, companies can interact with their customers via texting, voice calling, live chat, social media and countless other avenues. The more companies utilize these tactics, the greater ROI and customer retention rates they’ll realize.

Whether it’s introducing chatbots to respond to customer inquiries overnight or simply relying on customer feedback in researching new products, companies must rely on the latest technologies to better serve their customers. These are a few simple ways businesses can rely on technology to progress and maintain a stronghold in their niche industry.

The post Here’s How Technology Has Positively Impacted Customer Engagement appeared first on IoT Business News.

Sierra Wireless Smart SIM and AirVantage® IoT Platform to enable digital transformation of the world’s largest vending network.

Sierra Wireless today announced that International Vending Alliance (IVA), the largest global network with 1.9 million vending machines in more than 70 countries, has selected Sierra Wireless’ Smart SIM and AirVantage® IoT Platform to revolutionize vending service delivery.

One hundred million customers interact with IVA vending machines daily, but the vending experience has remained largely unchanged for the last 25 years. IVA’s smart “black box” solution, powered by Sierra Wireless IoT Services, is transforming the vending industry by enabling new business models and customer experiences, including cashless payment, touch screens, targeted advertising, online monitoring and more efficient management.

Martijn van den Hazenkamp, CEO of IVA, said:

“To compete with consumers’ ever-increasing digital expectations, the vending industry needs to reimagine how we interact with our customers.”

“IVA’s global network has been actively involved in the creation of a new smart vending solution that will change how vending machines operate so that data can be used to drive sales and customer satisfaction. We teamed up with Sierra Wireless, a global leader in IoT, to develop the vital connectivity and data collection requirements in the solution. Working together, we will modernize the vending experience.”

Sierra Wireless’ Smart SIMs offer global coverage, allowing IVA to use a single SIM across its worldwide network. The SIMs are integrated with the AirVantage IoT platform to manage subscriptions and connectivity and to monitor connectivity services. By connecting and collecting data from its retail assets, IVA can now provide transformative services, such as preventative maintenance, restocking optimization, automated merchandising, advertising, loyalty programs and more.

“IVA’s solution is a wonderful example of how IoT technology can breathe new life into industries that are facing new competitors and shifting consumer preferences,” said Marc Overton, Senior Vice President and General Manager, IoT Services, Sierra Wireless. “This data-driven vending experience, designed around Sierra Wireless connectivity services, allows IVA to innovate and deliver a completely new experience for customers and more efficient management for operators.”

IVA’s solution integrates Sierra Wireless IoT services with Smart Retail Solutions B.V.’s platform for the Retail, Hospitality, Beverage, and CPG industries.

“Combining our platform with Sierra Wireless’ IoT services allows us to provide a 24/7, flexible connectivity solution to the IVA network,” said Adrian Whelan, Director & Co-Founder, Smart Retail Solutions B.V. “We chose the Sierra Wireless solutions due to its ease of use and robustness, and the team involved has been extremely helpful with designing the solution.”

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Vodafone announced today that it is working with Mango, the global high street fashion retailer, on a new programme to rollout digital fitting rooms to the company’s top stores worldwide.

The digital fitting room has been designed around a new Internet of Things (IoT) digital mirror designed by Mango, developed by Vodafone in collaboration with Jogotech, which will allow the shopper to scan the clothes tags in the fitting room and then contact shop floor staff directly from the mirror, through a digital watch, to request different sizes or colours. The mirror will also suggest additional clothes to complement the original choice.

Mango’s aim is to extend the digital fitting room to its top stores, from Barcelona to New York and will help to blend the online and real world shopping experiences for the Mango customers. This is the first phase of a digital transformation project for Mango to create new ways for customers to engage and relate to the brand.

Vodafone Director of Internet of Things Stefano Gastaut commented:
“This project helps put more power at the shopper’s fingertips and will bring Mango closer to its fashion conscious shoppers and offer them more options and experiences than a conventional fitting room.”

Mango’s Chief Client Officer Guillermo Corominas added:

“This is a really exciting project for Mango. We see the future of retailing as a blend of the online and the offline. These new fitting rooms are another step in the digital transformation of our stores to create a whole new experience for our customers.”

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IoT in Retail Market size is set to exceed USD 30 billion by 2024, according to a new research report by Global Market Insights, Inc.

Increasing adoption of the Internet of Things by retailers to enhance the customer experience, reduce costs and improve overall performance is expected to drive the IoT in retail market growth over the forecast timeline. Rising trend of digitization across the retail sector coupled with the increasing usage of smart devices contributes significantly to the industry growth. In order to gain shopper insights and understand the buying behavior and deliver customized offers & promotions, retailers are increasingly deploying such solutions.

IoT has enormous potential to transform the retail industry. The various benefits include efficient store management, tracking & monitoring inventory and improvise the store security and loss prevention. Automated check-out, tracking the product quality and optimized supply chain management are among the other benefits of implementing the technology. Growing internet connectivity across various regions coupled with the increasing adoption of smartphones is anticipated to propel the IoT in retail. Factors such as gradual decline in prices of components such as RFID tags & sensors is expected to contribute to the adoption.

IoT in Retail Market size was valued at over USD 9 billion in 2016 and will grow at more than 19% CAGR estimation from 2017 to 2024.

Concerns related to data security and privacy might hinder the IoT in retail market growth. Factors such as high cost associated with the implementation coupled with the interoperability of devices in the system is anticipated to curb the demand for such technological solutions.

Increasing installation of IoT solutions by retailers is expected to drive the adoption of connectivity technology such as Bluetooth Low Energy (BLE) in the IoT in retail market. It identifies the registered customers when they enter the stores and send messages which include customized promotions and offers. BLE is generally used for applications which need exchange of data in low volume and consumes less power as compared to that of Bluetooth. RFID market is anticipated to grow significantly owing to the increasing adoption coupled with the rapidly declining cost of RFID tags.

Wide adoption of IoT in applications such as digital signage mainly used for advertising & marketing is expected to fuel the market growth. Advantages of digital signage include offering the customers an interactive shopping experience and making the innovative advertisements available to the masses in reduced time. The intuitive touch screen offering the customers with personalized & relevant content should also contribute to the growth of IoT in the retail market. The adoption of surveillance analytics helps retailers gain invaluable information about their customers. Video analytics are becoming increasingly popular among retailers to streamline the operations. The increasing need for specific solutions such as inventory management and product performance analytics has encouraged buyers to implement niche solutions.

Asia Pacific IoT in retail market is expected to witness significant growth pertaining to the retail sector in economies such as China, Japan and India. Increasing disposable income of the middle-class population residing in those economies coupled with the growing user base of smartphones lies impetus to the industry growth in the region. Factors such as improving the customer experience followed by speeding up the check-out process is the main reason for implementing such solutions by the retailers.

North America, being the largest market for retail is expected to grow considerably. This is attributed to the early technology adoption coupled with the presence of an organized retail sector in the region. The retailers in the region mainly focus on enhancing the supply chain performance by heavily investing in technologies such as automated inventory verification.

Companies in the IoT in retail market comprise IBM Corporation, Intel Corporation, Microsoft Corporation, SAP AG, Zebra Technologies, Cisco Systems, Amazon Web Services (AWS). The industry is fragmented with the entry of new players with innovative products and advanced technologies. Strategies followed by the industry players include mergers & acquisitions, new product launches in order to achieve growth and enter into new markets. The players are making huge investments in R&D to gain eminence. Moreover, they are increasingly focusing on enhancing the overall customer experience by innovating and differentiating the services.

The post IoT in Retail Market to cross $30bn by 2024 appeared first on IoT Business News.

Ingenico Group, the global leader in seamless payment, OT (Oberthur Technologies), a leading global provider of embedded security software products, services and solutions, and Vodafone announced that they have been collaborating to define a disruptive connectivity management solution based on embedded Universal Integrated Circuit Card (eUICC).

This partnership brings together the best of their know-how to revolutionize payment terminal connectivity in an agile way.

By joining forces, Ingenico, Vodafone and OT will make the remote management of payment terminals’ cellular connectivity a reality thanks to Connectivity/Manager. This tripartite solution leverages OT’s eUICC and remote subscription management solution, Ingenico’s smart terminals as well as Vodafone’s global IoT communications platform, and eliminates all logistic constraints toward SIM management. Enabling both the remote installation and management of operator profiles, it will dramatically improve operational efficiency, and also enhance merchants’ experience with better connectivity and ready-to-use payment terminal. This pioneering solution will provide unequalled quality of service and increase opportunities for acquirers & estate owners around the globe.

“We are delighted to work with Ingenico and Vodafone to optimize global connectivity management of POS during their entire lifespan. Our solution will also simplify the worldwide distribution of the POS and enable Ingenico to deliver an improved connectivity service to acquirers and merchants thanks to primary connectivity and back-up subscriptions hosted in the same eUICC. This will increase the transaction success rate by avoiding transaction failures related to temporary loss of connectivity” said Pierre Barrial, Managing Director of the Connected Device Makers activity at OT. “This is a strategic project for us, in line with our ambition to provide our OEM and MNO customers with the best solution to manage connectivity in a secure and flexible way across the variety of devices and equipment that constitute the Internet of Things.”

“Ecosystems and partnerships are going to be critical in the continued success of IoT and I believe that this relationship will prove to be a powerful and successful one for the POS industry,” highlighted Vodafone head of IoT Ivo Rook.

Jacques Guérin, EVP Smart terminals for Ingenico Group, explained:
“This solution will dramatically change the way terminals estate owners manage connectivity. Nowadays, ensuring a merchant’s payment terminal is operational accounts for up to 17% of the overall terminal TCO.”

“With this new solution, the payment terminal will embed a SIM that can be set and updated over-the-air. Thus estates will be managed more efficiently. Field services around SIM card logistics will become redundant, which will save estate owners time and costs while simplifying merchants’ set-up.”

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New unit will help retailers achieve unprecedented levels of operational efficiency, customer engagement and brand enhancement.

LSI Industries Inc. today announced the launch of SmartVision, a new business unit dedicated to helping convenience store executives tap into advanced Internet of Things (IoT) technologies.

SmartVision, an endorsed brand of LSI, offers C-Stores with the proven ability to increase operational efficiencies, improve customer experiences and enhance brand recognition.

LSI Chief Technology Officer Andy Foerster explains that SmartVision is uniquely qualified to leverage its image technologies, IoT expertise and 40-plus years of experience serving the C-Store industry.

“The potential of IoT for C-Stores is tremendous, but the level of trepidation is equally high, so while executives see opportunities, they are also uncertain how to proceed. SmartVision simplifies that process because we understand the opportunity on both ends – with IoT and how that applies to the C-Store environment.”

SmartVision will initially offer several core technologies designed to maximize in-store flow management, enhance the shopper experience, deliver real-time personalized promotions and coupons and differentiate store brands.

“C-Store executives are hungry to take advantage of new IoT technologies,” explains Marshall Paisner, SmartVision director of connectivity enrichment, “so we are using our IoT expertise to simplify the process for them.”

“Initially technologies like beacons, near-field communications, WiFi, camera analytics, electronic shelf tags and interactive digital signage are the types of offerings we can immediately introduce to help C-Stores increase operational efficiencies and enhance customer engagement.”

The post LSI Industries Inc. Launches SmartVision™, a New BU Dedicated to Simplifying IoT Solutions for the Retail Environments appeared first on IoT Business News.

DOCOMO Digital, the European based operation unit of NTT DOCOMO, has partnered with the leading Swiss operator Swisscom to enable physical goods to be purchased online and paid for directly onto a customer’s phone bill.

With a simple API integration, retailers of physical goods will be able now to offer Swisscom Direct Carrier Billing (Easypay) as a new payment method for customers. The first retailer that will use the solution is MediaShop Group, a leading TV and online merchant based in Austria.

Fernando G. Mesones, COO of DOCOMO Digital Financial Services, comments:
“Until now Direct Carrier Billing hasn’t really produced an effective way to purchase physical goods on mobile, so we are excited to partner with Swisscom to introduce this innovation.”

“At DOCOMO Digital, we are constantly innovating to drive the evolution of mobile commerce, so working with Swisscom to provide consumers and merchants in Switzerland with a new faster, secure and innovative payment method, is a big step forward for m-commerce in Europe. We expect this proof of concept to drive alignment in other markets for similar solutions that benefit end users, merchants and mobile operators.”

“As an innovative telecom operator we welcome the opportunity to contribute to the future of mobile ecommerce. We believe that by working with the right partners, like DOCOMO Digital, all telcos can help to improve the way consumers buy digital and physical goods online. Direct Carrier Billing, as part of operators’ payment methods, is set to be a disruptor in the digital ecommerce and we fully support this initiative.” comments Gerhard Schedler, Head of Sales Mobile Services & M2M/IoT of Swisscom.

Philipp Nachbaur, CFO of MediaShop Group, says:
“We believe that Direct Carrier Billing has the potential to become a significant payment method in the ecommerce sector. We are excited to be the first to launch DOCOMO Digital´s and Swisscom’s innovative new service for merchants.”

The DOCOMO Digital and Swisscom solution, powered by Loviit, DOCOMO Digital´s technical financing platform, is able to compete with any other payment methods and offers significant advantages, including:

One-click-to-buy and secure authentication

DOCOMO Digital will manage the check-out flows and payment transactions, which will provide consumers with the option to purchase with one click and resulting in higher conversion rates. This function is powered by a multi-layer mobile authentication system to ensure complete security for customers.

Low commissions compared to other payment methods

DOCOMO Digital’s technical financing platform performs favourably for merchants when compared to other payment methods, particularly for the commission fees.

Seven days settlement for the merchant

DOCOMO Digital will also be able to settle the payments to the merchants in a few days, a key merchant requirement to enable carrier billing as a mainstream payment method, through its Loviit technical financing solutions, powered by a proprietary fraud and risk management engine.

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The global connected retail market size is expected to reach USD 53.75 billion by 2022 according to a new report by Grand View Research, Inc.

Increasing adoption of Internet of Things (IoT) across retail sector is expected to drive the connected retail market over the forecast period. IoT offers retailers opportunities in three important areas, the supply chain, customer experience, and new channels & revenue streams. Several retailers have successfully embraced IoT to help customers connect with the next-generation consumers, sophisticated technology, and leveraging connected devices.

Emerging retailing formats such as omni channel retailing are anticipated to fuel industry growth over the next seven years. Omni channel retailing offers a seamless and flexible shopping experience to customers by integrating and aligning channels. It creates opportunities for retailers to capture more sales and increase loyalty and brand awareness.

The widening presence of mobile devices and the expanded use of mobile networks such as e-commerce engines are expected to serve as facilitators for a unified online/offline retailing experience.

However, possibilities of unauthorized access to various IoT applications or breaking into the device connectivity system are expected to challenge the IoT connected devices industry.

Further key findings from the study suggest:

• The hardware segment is expected to grow at a CAGR of over 19% over the forecast period. The software segment is expected to witness highest growth over the next seven years owing to increasing number of applications for retail industry. Emerging app-driven hardware and embedded software into connected devices and the capability to monetize such device features and functions may contribute to industry growth. Hardware segment comprises sensors, RFID and gateway components.
• Bluetooth LE is expected to witness substantial growth, with a CAGR of over 25% over the forecast period due to significantly low power consumption. Bluetooth Low Energy has a very low transmission frequency, which greatly improves the power consumption. Wi-Fi technology dominated the market with the revenue share of over 32% in 2014.
• Managed services segment is contributed to over 40% of the overall global revenue shares in 2014. Implementing these services reduces the IT costs and enables retailers to gain the technical advantage. Retailers are increasingly outsourcing services to reduce risks and focus on its core competencies.
• Asia Pacific regional market is expected to grow at a CAGR of nearly 25% over the forecast period. Major manufacturers in the industry are based in China, owing to cheap labor and higher production capacities. Further, China is making heavy investments in IoT industry, which may contribute to market growth.
• Key industry participants include Atmel Corporation, ARM Holdings PLC, Cisco Systems, Inc., IBM, Google, Inc., Intel Corporation, NXP Semiconductors N.V.,Microsoft Corporation, PTC, Inc., Softweb Solutions, Inc., SAP AG and Zebra Technologies Corporation. Vendors are adopting strategies such as product differentiation and innovation by investing in R&D operations to gain advantage over its competitors.

Industry Insights
The connected retail market size was estimated at USD 11.17 billion in 2014. Technological advancements and increasing numbers of Internet of Things (IoT) applications across retail segment are expected to drive growth of the global connected retail market.

The industry has evolved significantly over the last few years owing to several new technological developments. IoT is the concept of principally connecting any device including coffee makers, cell phones, washing machines, headphones, wearable devices, lamps, and almost everything with an on and off switch to the Internet. The technology is generating opportunities in retail space by offering advance inventory management, theft and fraud prevention solutions. It also offers solutions to enhance communication between retailers and customers.

Businesses are bound to follow regulations such as The EU Commissioner’s report on IoT. This report proposes certain standard requirements to be followed regarding the protection of data privacy and data usage principles and a report on the Internet of Things regarding privacy and security in a connected world by the Federal Trade Commission (FTC). These standards intend to enhance and protect consumer’s privacy and security.

Rapid decline in the components costs including RFID tags and sensors has positively affected the industry. Declining cost of RFID has led to increase in demand for more and more RFID components across the retail segment to curtail fraud and theft. However, issues pertaining to privacy and security and lack of IoT standards are expected to hamper industry growth over the forecast period.

Solution Insights
Hardware segment has dominated the market over the last few years. The segment accounted for over 60% of the total industry revenue share in 2014, owing to the increasing proliferation of connected devices at retailer and consumer levels. Further, hardware growth is stimulated by IoT including sensors and communication chips. RFID amongst hardware components is anticipated to grow at a CAGR of over 23%. Increasing adoption of RFID components in retail is due to several benefits they offer including inventory management, preventing theft & fraud, monitoring customer behavior, and preventing loss.

However, the software segment is expected to witness highest growth with a CAGR of nearly 24% over the forecast period. Software segment is flourishing due to increasing number of IoT applications across the industry. Retailers are increasingly adopting internet of things (IoT) to interact more with its customers and to gain a competitive advantage. For example, in December 2015, BMW UK has launched an exclusive end-to-end online service wherein customers can pick, finance and make a purchase for cars online. The aim of BMW retail online is to provide the dealer more opportunities and channels to get in touch with potential customers.

Technology Insights
Bluetooth Low Energy (BLE) segment is expected to witness significant growth over the next seven years owing to a surge in installation and usage of the technology. BLE transmits less data over shorter distances using much less power than Bluetooth. Retail payments and marketing verticals are increasingly using BLE technology leading to improved sales, customer loyalty, and acquisition. Although BLE has witnessed growth in customer engagement and marketing, its application is also increasing across contactless payments.

NFC technology is expected to witness growth at a CAGR of over 22% due to increasing volume of cashless payments in the industry. It is gaining popularity due to its security, ease-of-use, and versatility.

Service Insights
Managed services segment is accounting for over 40% in 2014, which is anticipated to witness considerable growth over the future. It significantly reduces the recurring in-house IT costs and enhances efficiency. Managed services include outsourcing the lifecycle management activities, production support activities, maintenance and support activities, and many more. As IoT in retail is gaining momentum, retailers are constantly facing rising data security threats. Therefore, to manage the expanding data base, managed service providers invest heavily in data protection, security, and disaster recovery solutions.

Remote device management services are anticipated to grow at a CAGR of nearly 24% due to tremendous growth in the remote devices at workplace. It provides security as it enables secure access to data and prevents misuse.

Regional Insights
Asia Pacific is estimated to be the most flourishing regional market which is expected to grow at CAGR of nearly 25% over the forecast period. Developing countries in Asia Pacific including China and India are anticipated to witness considerable growth owing to the increasing adoption of Internet of Things.

North America is estimated to dominate the global connected retail industry accounting for over 35% of the revenue share in 2014. Companies in this region, especially in the U.S. are investing the most in IoT infrastructure, which is projected to drive the regional growth over the next seven years.

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Asset Control & Consumer Engagement Core to the Business Case.

New data from Juniper Research has revealed that retailers seeking to capitalise on IoT (Internet of Things) technologies will spend an estimated $2.5 billion in hardware and installation costs, nearly a fourfold increase over this year’s estimated $670 million spend.

The hardware spend includes Bluetooth Beacons and RFID (radio frequency ID) tags. In the first instance, Bluetooth beacons enable visibility over footfall as well as the ability to push relevant information to consumers’ smartphones. Meanwhile, RFID aids in real-time asset tracking, reduced labour costs and even dynamic pricing according to stock levels and online pricing.

IoT in Retail: A Knot to Tie Product, Customer & Service Together

The new research, “The Internet of Things: Consumer, Industrial & Public Services 2015-2020”, found that leading retailers using the IoT to generate an ‘ecosystem’ are poised to gain market advantage and truly capitalise on the opportunity. Linking the hardware elements of RFID tags, beacons and connected consumer electronics, such as wearables, with software analytics promises in-depth business insight and an enhanced customer experience.

Author Steffen Sorrell noted:

“Retailers such as Zara and Target are already taking advantage of the benefits offered by RFID asset tracking. Meanwhile the beacon industry is expanding rapidly; used as a method to provide consumers with contextually relevant information in conjunction with their smartphone or wearable will enormously enhance the in-store experience.”

The IoT Needs a New Security Model

Additionally, Juniper Research found, with the number of connected units within the IoT (Internet of Things) forecast to reach 38.5 billion in 2020, attitudes and methods with regards to cybersecurity will have to undergo fundamental change. Where today’s security is principally focussed on access prevention, the IoT security model will require robust means of identifying inevitable network breaches. Should suspicious activity be detected, parts of the network can then be ‘shut off’ in similar fashion to marine vessel bulkheads to prevent attack spread.

Additional Findings:

• 70% of IoT units are expected to be composed of non-consumer devices by 2020.
• With diverse business models and aims of IoT projects such as service revenue, spend and cost-savings taken into account, Juniper forecasts the IoT opportunity to approach $300 billion annually in 2020.

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The number of cellular M2M connections in the retail industry reached 23.1 million worldwide in 2014, according to a new research report from Berg Insight.

Cellular M2M technology enables devices such as POS terminals, ATMs, digital signs and ticketing machines to be used at new locations where fixed line connectivity is unavailable or impractical. The technology has a more transformational effect on markets such as vending and parking, where machine operators need to reorganize their operations in order to benefit from the availability of real-time information. Berg Insight forecasts that the number of cellular M2M connections in the global retail industry will grow at a compound annual growth rate (CAGR) of 13.9 percent during the next five years to reach 44.3 million connections in 2019. Shipments of cellular M2M devices for retail applications will at the same time increase at a CAGR of 7.1 percent from 9.4 million units in 2014 to 13.2 million units in 2019.

POS terminals constitute the largest device segment and accounted for 90 percent of all cellular M2M connections in the retail industry at the end of 2014. The market for wirelessly connected POS terminals is however relatively mature, and most of the market growth is driven by the increasing use of electronic payments in emerging markets. In terms of penetration, the multi-space parking meter segment is furthest ahead. The multi-space parking meter segment was one of the first vertical markets to embrace cellular M2M connectivity and has reached a penetration rate well above 50 percent. In recent years, cellular connectivity has also found its way into the single-space parking meters market, which has become one of the fastest growing segments. Berg Insight expects that the vending machine segment will present a major opportunity for wireless connectivity in the long term, and today just 1.2 million of the world’s 17 million vending machines are online.

Mr Kurkinen concludes:

“Every vending machine will eventually be connected, but costs for the wireless M2M hardware and subscriptions still need to come down significantly before this vision becomes reality.”

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