Smarter Inventory Management
Inventory management has always been a headache. Inaccurate tracking for inventory can lead to stock-outs and overstock, costing retailers around the world billions annually. IoT based Automation can solve these issues by automating inventory visibility. This is possible by applying smart inventory management solutions based on RFID tags, beacons, video monitoring, and digital price tags,store shelf sensors, retail businesses can enhance procurement planning. In case of low inventory, the system offers to re-order the adequate amount based on the analytics and information acquired from IoT data.
Foot-Traffic Monitoring
In a small store, the mall traffic can be examined across several retailers so the entire shopping journey is understood. In a smart store, you can use video-based foot-traffic monitoring to see whether customers dwell in one product area more than others. Then, in real time, you can direct an associate to help out the customer or examine the information later in order to tweak the store layouts for more efficient customer visits. Moreover, by observing the store traffic and customer demand in real-time, you can customize the existing in-store shopping experience.
Automated Checkout
Check-out is one operation that is the most labor-intensive and often disliked process for customers. When checkout lines are too long, many people leave without purchasing anything, resulting in lost profit. In order to stop customers from leaving without any purchases, retailers can use IoT solutions to automate point of sale (PoS) systems. Automated PoS can read tags on each product when the customer leaves the store and automatically charge them from a mobile payment app.
Smart Shopping Cart
The implementation of a reliable, fair and cost efficient Smart Shopping Cart using Wireless Sensor Networks. Such a system is suitable for use in places such as supermarkets, where it can help in reducing man power and in creating a better shopping experience for its customers. Instead of making the customers wait in a long queue for checking-out their shopped items, the system helps in automating the billing process. Along with this ability, the system design also ensures detection of cases of deception invoked by dishonest customers, which makes the smart system fair and attractive to both the buyers and sellers.
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