The retail industry has large scope for the adoption of IoT-based technology. Thanks to the decreasing cost of tags and new international standards for RFID, the range and potential of applications has increased.
Fashion retailer Zara has adopted RFID to track inventory, allowing for dramatically faster and more frequent inventory taking. This is particularly appropriate to the fashion industry, where brands which respond fastest to trends and changing consumer tastes are able to take advantage. Improved replenishment has also enhanced the customer experience, potentially leading to repeat purchases and enhanced long-term value. IoT Systems can also be used to monitor shop and warehouse conditions remotely, raising the ceiling of efficiency achievable for the entire retail supply chain.
Applications of IoT systems in retail include:
- Access management
- Tracking of goods for inventory management
- Tracking of goods for theft and loss prevention
- Tracking of personnel
- Contactless payment operations
To find out more about how Internet-of-Things based solutions including RFID, wireless sensors and software could help your business, contact us today.