Over the past 20 years, the traditional retail landscape has dramatically changed, providing companies with innovative opportunities to collect and analyze data and ensure successful targeting across various channels.
A growing need to increase customer loyalty and deliver the best in-store experience is driving the adoption of The Internet of Things (IoT) in the retail sector.
According to a new research report by Global Market Insights, Inc., IoT in the retail market is predicted to reach over $30 billion by 2024.
They found that retail companies realize the potential of IoT and are positive about many aspects of its deployments.
89 percent of early-movers in retail report that IoT enables to gain increased insights into customer preferences.
77 percent of early-movers in retail say that IoT technology helps better cooperate with partners in delivering quality products and services to customers.