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Recently, the retail industry has been doing well, partly because of what's been happening with the pandemic. For example, Amazon.com, a big online store, went from having about 2 billion people visiting their site every month in 2019 to 2.3 billion in 2020. In February 2021, they hit a record of 2.8 billion visitors. Let's Understand IoT in Retail.
These days, there's a huge potential for retail, especially with the help of technology. But there are some problems. People are changing the way they shop, and there's a lot of pressure on delivery services. Some people also don't trust buying things online, or they might not be very good at using technology.
Because of the pandemic, retailers are thinking hard about how they do business and they're using more technology, like smart devices, to help them out. This is making a big difference in how they operate.
“Modern technology has the power to connect brands, products, and customers like never before. A lot of companies are already using IoT (Internet of Things) in retail, and it's predicted to become a $94.44 billion industry by 2025.”
What opportunities does technology have to offer? Are there any successful IoT use cases in retail? This blog will answer these and other questions and give a complete rundown of IoT implementation in retail.
Role of IoT in Retail Industry
Internet of Things, or IoT, means connecting everyday things, like objects and places, to the internet. This idea is used in many areas like transportation, healthcare, work, and shopping.
In retail, there are two common ways to use IoT:
Collecting and Sharing Data: Special devices with sensors can gather important information about products and how people shop. This data is then turned into helpful ideas for store managers to make better decisions and improve how the store works.
Taking Action Based on Data: Machines and stores that are connected through IoT can do things on their own, like helping the store run better and use resources wisely.
Because there are so many possibilities with IoT in retail, lots of creative ideas have been made and used to make stores work even better.
SlideTeam has prepared a 100% editable PPT on the same for your hassle-free work, let’s talk some of the important slide that you must incorporate in the Presentation.
Table of Content
SlideTeam's Important Slides
# Cover Slide
This is the cover slide displaying the Title of the presentation. The cover slide serves as a visual summary of the presentation's overall design. Just add your Company’s Name and start!
# Major Role and Scope of IoT in Retail Business
This slide represents the basic scope of the Internet of Things (IoT) in retail industries that helps to gain a competitive edge in the market. It includes elements such as effective flow of goods, personalized services, and informed decisions.
Effective flow of good
▪ Ensure safe and efficient movement of products beneficial for large retail chains.
Personalized services
- Helps distribution agencies and E-Commerce websites to target ideal audience by:
❖ Offering customized offers
❖ Eliminating geographical constraints
- Increase loyal customer base by 42%
Likewise, highlight the other scope of IOT in Retail in the slide to give better overview to the audience.
# Key Factors Driving the Growth of IoT Solutions in Retail
This slide exhibits major factors impacting the consistent market growth of IoT deployment in retail and ecommerce operations. It includes elements such as increased demands for IoT, cloud platform and mobile banking growth.
Increased demand for IoT solutions
- 75% of companies have digital transformation in 2023, 30% already registered in 2020
- Increase in investment by businesses in IoT technologies to ensure better efficiency and customer experience.
Mobile banking growth
- Increased use of mobile phones for payment boost market growth of technology in retail solution.
# RFID Tags Technology for Inventory Management
This slide provides an overview of RFID technology that helps in effective inventory management. It includes elements such as an introduction, types of RFID readers, and tags.
Types of RFID Reader
▪ Fixed readers:
❖ Reader and antenna are placed at a particular place where tag data passes
❖ Example: Amazon check out services
▪ Mobile readers – Handheld devices can be carried easily.
Types of RIFD Tags
▪ Active RFID tags:
❖ Have your own power source to read in a range of over 100 meters
❖ Used in companies where assets location is important
▪ Passive RFID tags – Uses electromagnetic energy to read distance from 25 meters close.
# Smart Shelves and Intelligent Inventory Management System
This slide provides an introduction to smart shelves in retail that help to optimize overall retail performance. It includes elements such as an overview, key features, and benefits.
Overview:
- Integration of technology and networking that allows retail shelves to detect inventory whether the product is sold or removed
- Notify retailers about misplaced items and use real time data to optimize inventory availability
Further, you can also highlight the key benefits to give a detail overview to the reader.
# Beacon Technology in Retail for Proximity Marketing
This slide provides a comprehensive overview of using beacon technology in retail to enhance sales and foot traffic. It includes elements such as an introduction, examples, and benefits.
Overview
- Small wireless battery that sends one one-way signal to smart devices nearby that communicate the message from a particular location
- Bluetooth low-energy technology that sends location-based messages to provide discounts, promotional offers, etc. to potential consumer
Example:
Amazon Go installed beacons in their infrastructure to introduce cashless payments and eliminate billing queues.
Similarly, you can highlight the benefits of beacon technology to give a better overview about it. Also, it will help the reader to make an informed decision.
# Various IoT Retail Solutions and Technologies
This slide showcases IoT technologies and devices that help to increase sales and customer retention rates in retail and e-commerce businesses. It includes elements such as smart payment systems, predictive analytics, etc.
In this slide, we have listed different technologies along with their descriptions along with examples. This detailed slide will give a glimpse of each technology to the audience which leads to better decision-making.
# Ways to Use IoT for Ecommerce Business Growth
This slide showcases ways to use and deploy the Internet of Things (IOT) to ensure ecommerce business sustainability and growth. It includes pointers such as smart online stores, personalized actions, etc.
In this slide, a table is inserted where we have mentioned the IoT use of ecommerce along with its description and impact. For an example
Smart online stores
Description
- Improves customer connection and engagement with products
- Examples: smart carts, robotics assistance, automated checkout systems
Impact
Increase revenue of business by 32% due to improved customer shopping experience.
Similarly, you can highlight other IoT uses of ecommerce as well in this slide, it would have a great impact on reader.
# Role of IoT Driven Supply Chain Management
This slide showcases the role of Internet of Things (IoT) devices in supply chain management and logistics to ensure workflow automation and optimization. It includes elements such as monitoring storage conditions, contingency planning, etc.
Similarly, in this slide as well you can mention the application along with its description and its impact. This can be decision influencing slide.
# Impact of IoT Solutions on Retail and Ecommerce Businesses
This slide showcases the positive impact of IoT on retail and ecommerce to enhance shopping experience and gain competitive advantage. It includes pointers such as effective decision-making, predictive maintenance, etc.
This one slide is really a game changer in this whole presentation, as everyone wants to the impact IOT is carrying in the retail sector. And, by highlighting various impacts it can have great potential to form a decision of a reader.
Wrapping- Up
Using IoT in retail is like taking a big step forward in how stores connect with customers and run their business. It lets them collect real-time information, make shopping more personal, and make things work more smoothly. This means shops can create super smooth and exciting places to shop, meeting the needs of today's shoppers.
SlideTeam has made a really detailed PowerPoint about this, which is like a super helpful guide for understanding and using IoT in retail. The slides can be changed however you want, making it easy to show others how IoT can benefit the store and everyone involved. So, download this PPT now!
Download Free PPT on IOT Retail
FAQ
Q1: How does IoT benefit the retail industry?
A1: IoT enhances retail operations by improving inventory management, optimizing supply chains, and offering personalized customer experiences through data-driven insights.
Q2: What challenges does IoT address in retail?
A2: IoT helps tackle issues like stockouts, overstocking, and inefficient processes by providing real-time visibility into inventory, supply chains, and customer preferences.
Q3: How does IoT contribute to customer engagement in retail?
A3: IoT enables retailers to create personalized shopping experiences, offer targeted promotions, and enhance customer satisfaction through data-driven insights on preferences and behavior.
