What will embracing IoT in retail mean for the sector’s future?

Our take: IoT presents an opportunity for retailers to connects physical and digital worlds, allowing bidirectional, real-time interaction with consumers... | ------------

Everyday physical objects are becoming uniquely identifiable and embedded with the ability to connect to other devices or networks.

The Internet of Things (IoT), in true essence, is the inter-networking of physical devices, vehicles (also referred as “connected devices” and “smart devices”), buildings, and other items, embedded with electronics, software, sensors, actuators, and network connectivity that enable these objects to collect and exchange data.

Together with other disruptors, IoT will fundamentally reshape industries in the coming years and the impact will be significant.

IoT comes to life when its multiple building blocks simultaneously operate and communicate with each other.

IoT is driving innovation and new opportunities by bringing every object, consumer, and activity into the digital realm. At the same time, leading businesses are making similar changes within their enterprises by digitizing every employee, process, product, and service.

IoT could be particularly disruptive to the retail industry: IoT presents an opportunity for retailers to develop a vastly improved ecosystem that connects physical and digital worlds, allowing bidirectional, real-time interaction with consumers both...

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