How IoT Solutions can help enhance business for offline Retailers and major Brands?

Like all other industries, the traditional or the offline Retail Industry is undergoing a major shift in its paradigm due to the impact of technology. Brands are keen to get some insight into their marketing spend in the retail stores as well as tap the retail stores to get an insight into their consumer profile and dynamics. The ‘Internet of Things‘ solutions, in particular, is bridging the required gap between the physical and digital worlds in the retail industry. The whole new ecosystem involving the components like the centrally controlled digital signages, smart sensors for monitoring the inventory and solutions, tools for better customer engagement etc, are not only helping the businesses optimize their current processes but also opening new opportunities to increase their revenue.

Managing the disconnect between the products on the shelf and the back-room inventory is one of the most crucial processes for a better shopping experience and the ultimately higher revenues. The current process of controlling it manually is certainly prone to errors and inefficiency. Also, the retail industry usually suffers a lot of losses due to some misplaced items, may be it from the employees or the shoplifters. Item level tracking using Radio Frequency Identification (RFID) can enable the real-time inventory visibility and is bound to increase the inventory accuracy. Also, the real-time purchase data, item popularity, and consumers movement in the store can help the decision makers to make better business decisions.

Other than RFID, EasyReach has introduced an innovative IoT solution to capture item level tracking in retail stores using “EasyReach Mat Sensors“. These mats capture the inventory on shelf and provide brands with a centralised dashboard to determine customer engagement, inventory tracking, merchandising efficiency etc .

The Mat sensors can be used in multiple ways –

They can also be placed on floor to track customer movements within store. Monitoring the footfalls, the duration of engagement and they can also be placed in front of kiosks to measure customer interaction and the quality of customer interaction

The same data provided by these sensors can be used in multiple ways. For example- a store manager can understand the inventory status and used it to manage his inventory workflow while a marketing manager may use the same data to plan his customer experience, signage and plan the visibility experience.

These mats can also be integrated with digital signage placed at the retail store. Triggers can be sent to the digital signage in order to display promotion based on time of day, day of the week, amount of time spent in store, number of people in the store etc. Centrally controlled content dissemination allows to advertising various products much more efficiently. Consider advertisements being displayed as per the time slots, for example, afternoon for the housewives, evening for the office-goers and weekends for the families. With the inter-relation of the advertisements being displayed and the actual sales, great insights can be achieved for better conversions. A consumer would be more likely to pick up a product from the shelf if it is being displayed on the digital signage above it. It can also lead to data-driven decisions for the product placement.

We at EasyReach, are building the next generation of innovative IoT products and software solution for the retail industry in India. Our wide range of technology-driven products are designed addressing the pain points in the current industry and we ensure that the Indian retail industry does not lag behind the current global revolution of IoT implementation.