The future of retail is tracking and IoT

Retailers are going all in on the internet of things. Whether it’s with cameras that monitor for shoplifters or sensors that track individuals via their smartphone’s Wi-Fi when they step inside a store, retailers are increasingly capturing the data we’re generating in their brick-and-mortar locations. They’re using the data to understand everything from who is buying their products to who is stealing from them to how to better optimize their supply chain. Almost 9 out of 10 (87%) of retailers consider connected tech inside their stores as critical to their success, and 92% have implemented some form of IoT in their stores, according to a report out this week from Microsoft. As the chart below indicates, retailers in both the U.S. and Europe are already using the IoT fairly extensively.