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The future of retail is tracking and IoT

January 20, 2020 / STACEY HIGGINBOTHAM
SHARESHARESHARE

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.