Despite the fact that IoT technology still has some grave issues of its own, but the potentialities of this great and rising technology are also numerous. While security-related issues will surely be fixed eventually, and the only thing that will be left after that is the full-fledged benefits IoT has to offer. You might not clearly know as of now but IoT is expected to play a very crucial role in saving the integrity, and the overall business, of land-based retail stores. How’s that possible when IoT is more about facilitating features/functionalities which rely on the web-based connectivity? Well, stick with us to know how IoT can help save brick-and-mortar store industry (important if you have one as well).
One of the major reasons for making such a speculation is to see the current trends of shopping. The consumer of the 21st century is more inclined towards user-friendly and eco-friendly ways of things. The boom of online convenience and money-saving shopping trend brought on by the Amazon Inc., in the mid of 1990s, entirely reformed the meaning of shopping.
Now, in the decade of 2010’s, customers are more likely to go for an online shopping place rather than killing their comfort to go downtown and buy from a brick-and-mortar store. Sounds like a drastic news for on-land retailers, right? But over here comes IoT technology in the play to secure and procure the integrity, and the businesses, of brick-and-mortar stores in this age of “Digital Revolution.”
Land-based retailers can utilize the help of IoT-powered applications that can intelligently manage the stock, use “smart” order tracking techniques, efficient product management via IoT sensors and lots of other functionalities. Using these, and other IoT features exclusive to land-based retailers, our brick-and-mortar stores will undergo a transformation which will make them almost similar to what online stores are.
But adopting IoT technology, even for retailers, takes us back to the currently most concerned questions regarding IoT’s sanctity: What would be the security risks which both the customer and store owners had to cope with? How will the crucial consumer data and financial information be kept safe from all possible unethical hackers? These are some of those concerns that are as legitimate in the IoT industry as its remarkable tally of benefits.
First off, on-land retailers who are looking to deploy commercial IoT solutions must need to have a concise and concrete security strategy. This also includes the purchasing of only the most reliable IoT devices and network providers out there. Store owners should seek the help of professional IoT/M2M service providers in order to make their devices and network highly secure. A monthly maintenance plan should be in place to cover up any-known loopholes in the deployed IoT devices. As far as data is concerned, it should be encrypted with the highest encryption technology possible.
Once the security and privacy concerns are precisely met, retailers can then move on to provide a variety of beneficial experiences to keep attracting customers to their stores. Some of the benefits IoT can give to a brick-and-mortar store we have described briefly above, but the list is really too big to be included in this minor article. Therefore, if you have a land-based store of your own and worried about what would become of your business in this digital age, look no further then IoT technology to your rescue.