Artificial Intelligence

Do we come to bury Jeff Bezos, or to praise him?

When I was a boy, my Cioci Mary (cioci is Polish for aunt) would occasionally treat me to a trip downtown in the small city where I grew up. We’d get a burger at Pappas’ diner and then head to W.T. Grant’s and she’d buy me candy, a comic book and a small toy. I mist up a little just thinking about it now, more than 50 years later.

You think a child of today, decades hence, will recall his aunt buying him a pair of sneakers on her laptop as fondly?

Intelligent lighting can help improve back-of-the-house retail operations

While a lot of emphasis is placed on optimizing the front-of-the-house retail experience, improving back-of-the-house operations can also help retailers better meet customers’ evolving expectations — and intelligent lighting systems may be the key to improving those operations.

Reinventing the traditional retailing experience is paramount to reaching a digitally savvy customer base, according to Joe Jensen, VP, Internet of Things group general manager, retail solutions division, Intel. Jensen discussed with Chain Store Age how retailers can meet this challenge.

What are the biggest challenges that retailers are facing in their customer engagement strategies?

IoT is making it easier for retailers to interact with consumers via connected home-based devices that allow consumers to interact with brands without launching a website or mobile app.

The best known is Amazon Echo, a voice activated device designed with an artificial intelligence assistant app called Alexa. Dedicated sensors in the device connect the consumer’s home to their retailers of choice, allowing, via voice commands, consumers to add items to virtual shopping lists or make online purchases.

The omnichannel retailing model is forcing brands to bridge the gap between physical and digital retailing. Add in the power of the Internet of Things, and this business transformation is finally within reach. From beacons that send out personalized promotions to frequent shoppers, to smart mirrors that allow customers to virtually “try on” clothing, IoT technologies are transforming the store experience.

If digitally savvy shoppers have taught retailers anything it’s that a traditional shopping experience isn’t enough to drive loyalty.

Supply chain visibility is important in omnichannel success. The Internet of Things could be the perfect tool to keep inventory hiccups throughout the demand chain to a minimum.

“While many retailers have a mind-set that IoT is about satisfying customers and not moving product, supply chain IoT use cases still interest retailers,” said Steve Rowen, managing partner at Retail Systems Research.

IoT promises to deliver coveted seamless shopping experience, enterprise-wide visibility

To remain relevant in an omnichannel retailing world, brands must evolve operations to satisfy the way people shop. Armed with the Internet of Things (IoT), retailers position themselves to leverage the necessary operations to engage digitally savvy customers in an ever-changing business landscape.