Everybody knows that episode of The Simpsons where they get the Pierce Brosnan voiced super house that does everything for them, making life a breeze. Well as technology gets smarter and smarter this fantasy home is quickly becoming a reality and in fact you can already purchase plenty of advanced home wares capable of auto tasking themselves to suit and simplify your life. Oh and did I mention these ones aren’t homicidal?
These days we want everything to be smart and connected from our televisions to our pot plants. Did you know that since 2008 there are more inanimate objects connected to the net than people and this number grows exponentially each year? Off course I could sit here for hours writing about all the awesome smart gadgets your house needs right now but that would just make me sad because I can’t afford them. What I am really interested in discussing though, is the impact of the Internet of Things (IoT) on the retail industry.
“In simple terms, the IoT stands for the connection of usually trivial material objects to the internet … At the very least, this connectivity allows things to broadcast sensory data remotely, in the process augmenting material settings… In most cases these objects are able to store and process information, as well as independently initiate action” (Teodor Mitew). Currently I work part time at my local IGA and every day that I walk up and down the isles checking the dates for expired products and writing down what stock needs to be re ordered on my little note pad, I think to myself, ‘for the love of God isn’t there some kind of automated system that could be doing this?’ While I’m working I daydream constantly about a world where each product is scanned before being put on the shelf and I can receive notifications about when it will go bad or when the stock is running low.
But that is just thinking about the benefits at a very fundamental level, there are so many more insights that can be gained from a connected grocery store. Food retail is unique in that it has a substantial components most other retail environments don’t have. For example the food’s freshness is relative to time and temperature whereas clothing retailers do not have to worry about that issue. Imagine a store where the fridges detected and automatically adjusted themselves after scanning the temperature of individual products, imagine digital price tags that updated themselves in real time according to daily specials. “Through implementing an effective Internet of Things strategy, retailers can significantly improve, automate and refine business processes, reduce operational costs, integrate channels and better understand consumer trends” (Hussmann).
Again there are so many more benefits to a connected store, this whole time I have only been discussing the benefits for me, the worker, but what about the customer? The Internet of Things means that customers can interact with the products on a deeper level. Smart trolleys have the potential to record highly specific data about an individual’s shopping habits. From there it can suggest products they are likely interested in, auto generate a shopping list based on previous purchases, show them the location of things in the store, tally the cost as they go and assist with budgeting, organise meal plans and even offer unique discounts or promotions. Imagine if quick a smart phone scan of any bar-code gave you recipes, reviews and a dietary rating, well you don’t have to imagine for too long because these are technologies that already exist and are on the cusp of widespread integration.