IoT in the Retail Market

Before adaptation can happen with a new device or software enhancement, there is disruption. Disruption has been a common and consistent thing in the IoT market since the 80’s with the invention of the computer. The days of the internet being simply a form of communication are far in the past. Businesses are adapting and scaling their retail operations with the use of IoT technology on a daily basis.

Prior to the 1990’s, online transactions hadn’t happened yet and  brick and mortar retail shops still ruled the retail industry through the use of physical transactions like bar code scans and credit card swipes. After the first online transaction in 94, the adoption of the new e-commerce experience and the combination of new scalable technology inside stores was the disruption of the 21st century. Let’s dive into a few benefits of IoT in retail, both in store as well as e-commerce.

Streamlining Asset Management

Gone are the days of managing asset quality and inventory manually. Through the constant updates and inventions in the IoT world, thousands of internet-based cloud platforms help you manage your assets in an automated and more organized way. It cut’s down on room for manual error of calculations or loss of revenue and allows for a more analytical view of your data and reporting. Plus, with the ability of SIMETRY’s multiSIMs, your entire organization will be able to access whichever cloud platforms you choose and from any device’s location. The combination of how far IoT retail platforms have come with SIMETRY’s data services’ flexibility serves you correctly while your organization adjusts to work from home. Let’s use the company, Bird’s current business model as an example of how IoT innovations can assist in asset tracking and management. Bird is in the business of urban located scooter rentals. Each scooter is identified and tracked as an individual device through the use of industrial sims, like the ones SIMETRY offers. When an individual links up with a scooter, the scooter’s behavior and location is monitored through GPS technology, allowing the connected app to update each scooter’s location for the next guest but staying on top of the company’s assets and the quality of each.

Safety and Security Improvements 

When it comes to brick and mortar retail, a controlled fleet of solar security cameras can entirely monitor your operation. Fixed security solutions will monitor your operation 24/7 from and 360-degree view. A few benefits of IoT security cameras today are:

  • Connection monitor your footage from the cloud
  • Facial Recognition and Heat Mapping to help with asset and employee security
  • Real-Time Risk Notifications
  • The integration of other IoT devices with security camera solutions. (think Walmart self-checkout camera attached at the kiosk.

On the e-commerce side of retail, security and safety precautions have immensely improved over the last few decades. Implementing firewall security and Private Networks is just a few strategies to support IT operations across the country, including E-commerce websites. Data security is at the forefront of every Intelligence employee across the country. No matter the route taken to sell your product/service, adapting to innovative IoT security measures are necessary if you’re looking to grow your retail business. 

If you would like to speak to an IoT expert contact us today to learn about even more ways SIMETRY can help grow your retail business. 

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