Businesses See IoT As Essential, Driven By Customer Service

Businesses adopting the Internet of Things seem to see value, both for the organization and the consumers they serve.

More than 70% of businesses interested in IoT say it is important or essential to their strategy, according to a new study.

The study, comprising a survey of 250 business executives currently researching or implementing IoT, found that many businesses are using IoT with consumers in mind.

A third (33%) of executives said the driving factors for implementing IoT are increasing quality of customer service and product service.

In retail particularly, this can come in many different forms. Retailers can use connected devices in stores to help consumers navigate to the products they want or even deliver relevant marketing messaging and personalized coupons for the products the consumers need as they approach those products.

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Philips Lighting has already integrated this indoor positioning capability into its LED smart lights, which are installed in an expanding base of international retailers and soon entering the U.S. market.

Contextual messaging seems to be a priority for businesses using IoT in retail.

Dynamic signage in stores is the top used IoT device in retail, with 17% of executives mentioning it, according to the study.

In addition to better serving consumers, retailers appear to be interested in the tracking capabilities within IoT.

Smart shopping carts, smart shelves and staff location devices are equally (12%) used, based on the survey.

Another tracking-related device mentioned by 10% of executives in retail is RFID tags in products, which enable retailers to track inventory and actual location of products in stores.

Some marketers suggest that the data collected from such systems could provide insight into the flow of products throughout a store and ultimately help retailers and brands optimize in-store promotions.

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