Marketing Infographics

Will Enterprise IoT Help Jumpstart the Retail Industry?

Lenders are backing off financing an already ailing retail industry. Bloomberg is even predicting the Retail Apocolypse may quickly be upon us. The retail industry is starving for innovation, and the Internet of Things just may provide the boost needed.

In fact, 72% of retailers are currently engaged in Enterprise Internet of Things (EIoT) projects. Half of all retailers are already incorporating proximity technology in their marketing.

What is EIoT?

In today’s enterprises, an increasing number of systems and things are already becoming connected or are naturally graitatingtowards being connected. Each of these things will typically be specialized in a particular function, eg. mobile devices, motion sensors, digital displays. If these things are connected so they can extange information in standard ways, it allows businesses to create some compelling applications.

How Does EIoT Help Retail Sales?

  • Mobile alerts and digital signage displays are the most mentioned technologies for the delivery of in-store tailored efforts
  • 63% of shoppers would download a loyalty app, and 57% share their personal information with the brand they trust
  • 66% of shoppers will use in-store Wi-Fi to receive product information or take advantage of special offers
  • Over 50% of shoppers are willing to receive tailored offers based on their preferences and purchase industry while near or in a retailer
  • 78% of shoppers rate the importance of integrating e-commerce and in-store experiences as business critical
  • 80% of millennials and high-income shoppers said they’d purchase more from retail stores that offer great mobile in-store shopping tools
  • 68% of shoppers made a purchase of a product because of the appealing nature of digital signage

This infographic from CUBE provides examples of EIoT connected things and applications in a retail environment. CUBE has developed a device that enables coordination and collaboration between in-store music and messaging, video signage, and on-hold music.

The infographic also details some of the challenges with EIoT as well, including security, privacy, addressing, and computing challenges. Retailers must pay attention to these challenges as they choose the right partners to work with in the future.

Enterprise IoT Infographic

Douglas Karr

Douglas Karr is CMO of OpenINSIGHTS and the founder of the Martech Zone. Douglas has helped dozens of successful MarTech startups, has assisted in the due diligence of over $5 bil in Martech acquisitions and investments, and continues to assist companies in implementing and automating their sales and marketing strategies. Douglas is an internationally recognized digital transformation and MarTech expert and speaker. Douglas is also a published author of a Dummie's guide and a business leadership book.

Related Articles

Back to top button
Close

Adblock Detected

Martech Zone is able to provide you this content at no cost because we monetize our site through ad revenue, affiliate links, and sponsorships. We would appreciate if you would remove your ad blocker as you view our site.