Future of IoT innovation takes a leap in Fashion and Retail industry.
The tagging of products in store is made faster and more effective through RFID (Radio-frequency identification), which automates the supply chain, creates better visibility and awareness for customers to know where goods are located.
Grob added: “If we can digitise the store by doing heat mapping we can understand what happens much more, knowing where spaces are within the store to give more insight, all with the use of IoT technologies.”
Inventory management can be made more accurate with the smart shelf, shelves which can detect if someone takes an item identifying if that piece is being removed but also what exactly the item is.
With a mixture of either RFID technology or weight sensors, it can be used to enable retailers to get a clear instant view what’s happening at the shelf level.
Grob said: “Online this can be identified but we want to make this possible in-store as well. It is very important for retailers to get closer to the business and closer to the interaction.”
A smart fitting room will allow retailers to get closer to customers, not quite literally but via interaction. It identifies what customers take into the fitting room, what was sold and which items are taken back to the store
“Wearables is not just a smart watch, it can also be smart products, so getting more information about what the customers are doing with the products.
“All these technologies together show that the retail process can be developed a lot through IoT technologies.” Grob says.
A partnership with Intel means capture consumer experience capture can be explored through a mixture of insight and analytics.
A combinations of RFID tags with a smart platform and other concepts were demonstrated at one of Intel’s 10 IoT ignition labs at the Future of IoT in fashion and retail conference.
Despite online search, over 90 percent of customer value is still being transacted in store.
Henning, said: “We want to create the same insights provided online to in-store. Retailers are tired of seeing more reports so we want to make it simpler for them with IoT innovation.”