How Technology Has Changed The Way Of Communication, Interaction, And Store Behavior Of The Consumers

871 Words Mar 28th, 2016 4 Pages
Internet Of Things has set its foot to transform the traditional rules of all leading industries, and it is needless to mention that Retail Sector is one of them.

More than any other industries of this era retail stores are frequently coming in daily direct contact with today 's consumers, who have fully embraced digital transformation in their lives that include IoT technology and overall modernization.
Leading retail outlets are hence developing IoT strategies and plans to take full advantage of IoT technologies to streamline retail malls. Digital Signage use in retail outlets is escalating every day. According to International Data Corporation, IoT in retail has increased from $655.8 billion in 2014 to $1.7 trillion in 2020, as retailers continue to enhance customers ' experience by digitalizing their shopping experience.

The introduction of new technology transforming the way of communication, interaction and in-store behavior of the consumers. It is thus also influencing their search for a product and the way they end it by buying the same.

Retailers with cognitive computing will soon deliver the right and best retail experience to their consumers at the right time that will heighten enduring brand loyalty of the consumers.

IoT harvested data from electronic gadgets like smartphones, wearables, sensors and other similar devices to provide new business insights and retail growth opportunities. Clubbed with cognitive computing it provides the retailer a better…

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