Did you know that it is estimated that by the year 2025, the Internet of Things-enabled retail market could be worth $94 billion! And with the help of innovations such as Smart Shelf Technology, the Retail landscape as we know it will be changed, for the better.
It comes as no surprise that today, many retail stores are focusing their attention on leveraging emerging technologies like IoT, cloud, mobile, RFID, smart shelf technology, and beacons to provide connected retail services and a better shopping experience to their valued customers.
Store owners are integrating sensors in the key zones of retail stores and supermarkets and connecting them to cloud-based applications through a gateway that enables real-time data analysis related to products, sales, and customers from these sensors.
With the IoT’s projected growth and with more store owners recognizing the value of adopting an IoT solution such as smart shelf technology to their stores, more customers will enjoy a ‘smart’ shopping experience through a network of connections linking the physical and digital worlds into an ecosystem of devices, such as smart shelving displays.
How Smart Shelf Technology Works
Smart shelves can interact with apps on a customer’s smartphone. For example, sensors installed on the shelves can tell when you approach them, so they can show you a deal on the same product you purchased last week. Additionally, if you use a store’s app to create a shopping list, the smart shelves can interact with the list and show you where to find the items you want.
Conclusion: By improving the customer experience through digital connectivity and data collection, smart stores help retailers retain business and increase revenues.