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Retailers are optimistic about IoT technologies: Study
Nov '16
Retailers in the US were found to be overly optimistic for what the Internet of Things (IoT) may be able to achieve in the future, however, most of them have not yet invested in it, says a recent report. Lack of an infrastructure that can support cutting-edge technologies was cited as one of the reasons why retailers have not yet adopted IoT.

Retail Systems Research (RSR) surveyed 129 retailers across the US for its 2016 benchmark report, The Internet of Things in Retail: Getting Beyond the Hype. Retailers revealed during the survey that executive leadership of retail stores does not grasp the possibilities of IoT and thus, do not push for such initiatives. They also said that their IT teams do not have the necessary bandwidth to tackle new challenges.

“Interest in IoT is fueled by a very real and pressing problem that retailers have today. They have struggled to integrate the store to an otherwise 24x7 anytime/anywhere selling environment. But this has yet to translate into significant investment by all but the most forward-thinking retailers,” said Brian Kilcourse, managing partner at RSR Research and co-author of the report.

The report states that there are three general areas of principal focus that are causing retailers to consider IoT. These include inventory visibility and accuracy, interacting with digitally enabled consumers in the physical store and making the physical store more effective for consumers.

Retailers were unanimous in their desire for a closer level of engagement with consumers via their internet-enabled mobile devices, according to the study. (KD)

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