The Internet of Things (IoT) in Retail has been redefining the buying and selling experience for decades. Remember when bar code scanners first arrived in our local stores speeding the checkout process? Or the first time we entered a credit card number into our browser to make an online purchase? Or the moment we became both customer and clerk as we checked ourselves out at a register? The Internet of Things has actually changed the course of the retail business. No wonder then that investment in the Internet of Things in the worldwide retail industry is expected to hit $37.6 billion and is expected to grow 20-35% per year over the next several years.
Today retail is synonymous with handheld devices that empower the customer and the retail associate. These devices and digital signs on shelves and walls provide a truly mobile experience and allow dynamic pricing, personalized coupons, and purchases anywhere in the store. Both buyers and sellers have easier access to up-to-the minute product, pricing, inventory and competitive information. And that’s a huge transformation in the retail value chain. Sogeti has helped