Research

The 'Thingification' of Retail

The 'Thingification of retail' involves leveraging the technologies associated with the Internet of Things (IoT) in the retail space, and the subsequent realization of applicable business-driven solutions. This encompasses the entire gamut of operations and processes that are part of the retail business.

The 'Thingification of retail' involves leveraging the technologies associated with the Internet of Things (IoT) in the retail space, and the subsequent realization of applicable business-driven solutions. This encompasses the entire gamut of operations and processes that are part of the retail business.

The IoT has the potential to favorably disrupt the way retail players are currently conducting their businesses, and is expected to create new revenue opportunities and business streams. To stay relevant to customers, retailers need to harvest value from IoT-enabled systems. Leveraging IoT technology in an integrated manner enhances customer experience and ensures informed decision-making.

This paper discusses the digitally enabled ‘Things’ which are the building blocks and how these can be used to realize the potential value of the IoT. The author also talks about Reimagining Retail Operations with IoT and how the interplay of things will optimize existing processes. 

 

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