{"id":7792,"date":"2021-08-30T15:15:26","date_gmt":"2021-08-30T09:45:26","guid":{"rendered":"https:\/\/ziniosedge.com\/?p=7792"},"modified":"2026-01-30T06:58:07","modified_gmt":"2026-01-30T06:58:07","slug":"the-impact-of-internet-of-things-iot-in-the-retail-industry","status":"publish","type":"post","link":"https:\/\/dev.theblufig.com\/zinios\/the-impact-of-internet-of-things-iot-in-the-retail-industry\/","title":{"rendered":"The Impact of Internet of Things (IoT) in the Retail Industry"},"content":{"rendered":"\t\t
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Internet Of Things has always played a significant role in the retail industry, stocking and warehousing. And its value is projected to rise from USD 14.5 billion<\/a> in 2020 to USD 35.5 billion by 2025, at a CAGR of 19.6%\u00a0<\/p>

The term Internet of Things was coined by Kevin Ashton when he was faced with a challenge in logistics and supply chain management while he co-founded the MIT Auto-CAD centre.\u00a0Today the potential of IoT in the retail market is high and touch many value points such as customer experience, retail management, data analytics, decision making, warehouse management and logistics.<\/p>

In this blog let’s explore more about how IoT drives value in the retail market.<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Internet of Things in Retail Market<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Internet of Things offers brilliant opportunities in the transportation and logistics department along with facilitating the digital transformation of an area that can potentially face a huge crunch-retail.\u00a0<\/p>

Retailers have been utilizing the capabilities of RFID for a long time. With the implementation of newer technologies, rapid improvements in connectivity and communication instruments, and new devices, the Internet of Things witnessed massive growth.\u00a0 The opportunities to improve operations and customize offerings for customers with fantastic experiences customers require are even bigger. Apart from this, there are massive benefits for the E-commerce industry.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Enriching Customer Experience<\/h3>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The key to a successful business is dependent on a rich customer experience and happy customers.\u00a0<\/p>

In today’s world of a channel-agnostic, well-informed consumer, logistics play an important part in meeting the demands of consumers and optimization for better customer experience and services. As we will see below, there are many other areas where the Internet of Things<\/a> can help provide a special customer experience.\u00a0<\/p>

IOT is expected to grow at a rapid pace of 20.5% CAGR in the coming years, and investors, as well as developers, expect a large chunk of this growth to be contributed by the retail Industry.\u00a0<\/p>

Benefits of existing users of IOT.\u00a0<\/p>

In reports published by Verizon, the giant in USA, the following statistics were reported<\/p>