I don’t think we are in a place wherein we need to understand what internet of things is. The concept has become quite known now. But whenever there is a mention of this word, it reminds me of a quote by Bill Gates which says, “Information technology and businesses have become inextricably interwoven. I don’t think anybody can talk meaningfully about one without talking about other.”
Yes, we are talking about IoT in ecommerce. Today, we will be talking about the way it has transformed the communication channels between businesses and customers.
IoT – The New Norm
From devices that detect the sleep pattern of babies to cars that work on commands, a lot of interactive devices have penetrated our lives. Needless to say, it is also influencing the market of ecommerce. According to a research study by Gartner, by 2020 more than 20 billion things will be connected to the internet. Also, nearly 50% of new business processes will make the most out of internet of things.
The upcoming years will witness the dominance of AR (Augmented Reality), AR (Augmented Reality), AI (Artificial Intelligence) and internet of things in ecommerce. So, the question here is, where will you stand in this computing cycle of $13 trillion? How have you decided to inculcate internet of things in your business? Before you start thinking on those lines, let us talk about the ways in which you can make the most out of technology and carve a niche for your business.
Inventory Management with IoT
Having a single store and handling its inventory is one thing. But having more than one physical warehouses at different places can create a chaos with restocking and inventory tracking. Even if you use inventory management software, there are chances of human errors. Also, the bestselling products might run out from the shelves even before you know.
To help ecommerce store owners get over such issues “Smart shelves’’ have been introduced. These devices keep the inventory mistakes out and monitor the number of sold items. Once tracked, they place automatic orders so that the bestselling products do not go out of stock and customer satisfaction is maintained. Isn’t that amazing?
Product Promotion with IoT
Gone are the days wherein each product was priced the same for everyone. These days, the flexibility in pricing depends on individual customer experience. To keep your loyal customers happy, you can make the most out of “smart” shelf tags, also known as “e-tags.” Once you install these in store, it will offer promotions to your targeted customers depending on their buying habits.
The question here is, how do they measure the customer behavior? Well, these devices make the most out of the Omnichannel purchase data (details about what the customer has purchased online and from physical stores.) Once they obtain this data, they use location-based signals to gain customers’ attention and deliver promotions through push notifications. It just cannot get smarter than this!
Ensuring Smooth Deliveries with IoT
Last, but not the least, Internet of Things will play a major role in ensuring glitch-free product deliveries. You must have already read about how Amazon introduced drones to ensure same day deliveries for its customer base. For the years to come, business giants like Tesla Motors, Mercedes Benz, Nissan, Google etc. are going to introduce self-driven cars that will deliver your products to customers on time.
You can also make the most out of warehouse robots for your warehouse organization activities like packing and picking parcels. These robots can walk at 8 km/h and load parcels of up to more than 300 kg. Well, this might seem slow to you right now but it is sure to improve with time.
Handling Wear and Tear with IoT
Manufacturers and industry equipment handlers often go through last minute frantic repair calls. At times, they run out of coverage and insurances. And what do you think would be the result of these delayed maintenance activities? Losses in the business, of course! Thanks to the IoT appliances, you can keep such situations at bay.
These devices constantly monitor the performance of your equipment and send the data to service departments whenever there is a need for repair. Which means, there is no need for you to call out for technicians and haggle on maintenance calls. These devices also keep a track on your warranty periods.
With so many enhancements that Internet of Things can render your business with, there is no reason you should be reluctant to adapt this technology. Search for “internet of things e commerce” and you will come across several devices that have empowered businesses worldwide. And if you do not like what you see, you can always get a customized solution to suit your needs. So, what are you waiting for? Jump into the Internet of Things bandwagon now!