19 Per cent Retailers Offer IoT Capabilities to Enhance Shopping Experience: Study

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Consumers are interested to try latest technologies if they find enhancement in their experience of in-store shopping

The latest report of Boston Retail Partners(BRP) revealed that at present around 19 per cent of retailers are offering Internet of Things (IoT) capabilities in their stores,and 36 per cent are planning to use the technology within three years.

It further stated that about 23 per cent of retailers currently use artificial intelligence (AI) in physical stores and 30 per cent are planning to implement the same within three years.

In order to provide customers a unique personalised experience of shopping in every retail channel, the stores have to provide a mix of physical and digital strategies, including IoT and AR.

Ken Morris, Principal at BRP, said that  e-commerce and mobile continue to grow and garner attention, the store remains a key component of the brand experience and the central point of the customer’s shopping journey. In fact, nearly half of retailers plan to increase their number of brick-and-mortar stores.These digital possibilities, along with mobility, have modified consumer expectations and behaviors, and retailers must transform to succeed.

Retailers must transform

Ken Morris added that the advent of the digital world offers consumers new ways and ‘places’ to research and shop. These digital possibilities, along with mobility, have modified consumer expectations and behaviors, and retailers must transform to succeed.The the consumers are interested to try latest technologies if they find enhancement in their experience of in-store shopping.

Around 32 per cent of customers are expected to shop at a store that is providing an AR experience compared to a shop that does not provide the service and 29 per cent like to experience the VR as part of their shopping experience.

However, when it comes to in-store deployment, only 9 per cent retailers offer AR to their brick-and-mortar consumers and another 29 per cent are planning within three years. Currently, just 7 per cent provide VR capabilities to in-store consumers and 23 per cent plan to within three years.

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