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

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

Around 19 per cent of retailers presently offering Internet of Things (IoT) capabilities in their stores, said a latest report by Boston Retail Partners (BRP), while adding that another 36 per cent are planning to use the technology within three years.

The report further stated that about 23 per cent of retailers currently use artificial intelligence (AI) in physical stores and another 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, the report argued.

Commenting on the findings, Ken Morris, Principal at BRP, said, “While 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.”

Retailers must transform

“However, the role of the store continues to change. 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,” Morris said.

According to the report, 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 of consumers would 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, the report said.

LEAVE A REPLY

Please enter your comment!
Please enter your name here