Future of IoT innovation takes a leap in Fashion and Retail industry.
Despite reports that the rise of Internet of Things may disrupt high street fashion store sales, a solution may have been found with an idea to bring IoT onto the shop floor.
At the Future of IoT in Fashion and Retail conference CEO of Detego, Uwe Henning highlighted the ways the company is using IoT to add to the progress of Fashion and Retail.
The progress of digital transformation continues to soar as the world of IoT is explored across different platforms, significantly noticeable across the healthcare industry as ognitive computing devices are being used to identify diseases.
It is through IoT innovation that the key benefits of collaboration are very much identified at a larger scale.
Retail IT specialist, Detego created a number of collaborations with retailers to assist with pioneering IoT initiatives to improve areas such as stock management and customer service.
Henning said: “Fashion retail, whether fast fashion or luxury, has between 60-80 percent of retail still happening in the physical store. People love to go shopping, try things on and consumers are really demanding more service as opposed to online orders and being unable to return the item in store (happens a lot in ecommerce).
“In the internet everything is possible. In the physical store, majority is in that store. This is where IoT comes in as it will work together with technology and applications.”
Henning says the idea is that the connected reality is measured in three stages which help to implement IoT whilst delivering customer service in efficient ways.
The first stage is ‘Hyperawareness’, was explained by Henning as a process which “allows retailers to understand what shoppers really like, what do they see as a value and then make a decision as best as possible. It’s around if you want to use old data to make a decision, or if it’s better to use new-time data because in our digital world we’re using new-time data and the rest is fast execution.”
The following two stages, which follow on from hyperawareness, include informed decision making and fast execution.
The demonstration of retail digitisation was explored through a partnership the SAP. The project began in 2015.
The use of SAP highlighted the importance of integration.
Oliver Grob, who works at Industry Business Unit at SAP said: “We have an end-to-end process from the manufacturer and customers, with four connection points to the business- that’s the classic retail business of today.
“With IoT we have the opportunity to connect many points, which means adding sensors to it, creating a more precise picture.”