As the world emerges from a once in a century pandemic, there has been a dramatic shift in the consumers’ demands and their shopping behavior. New strategies and ways of working are required, and technology will play a central role in accelerating the evolution of the retail.
TCS and Microsoft jointly conducted the webcast – ‘The Digital Future of Retail: Winning with IoT’ on June 17, 2021, which focused on solving the unique set of challenges faced by retail enterprises.
During the session, the experts from TCS and Microsoft, spoke about the IoT interventions that can have an impact such as:
- Building a resilient supply chain, that delivers the best quality of products to customers on time at their convenience.
- Making business sustainable, through efficient operations and reducing carbon footprint and overall emissions to attain carbon neutrality.
- Securing IoT and Enterprise data, to address vulnerabilities in customer data privacy, network and device-level security.
- Creating experiences of the future, to bring back customer footfall to retail stores and create desirable omnichannel experiences.
Some of the insights which were discovered during the session from the poll conducted for the attendees include:
- Top area for digital investments - 40% said building supply chain resilience is their first priority, followed by 37% saying they will focus on creating stores and experiences of the future.
- Securing IoT and Enterprise Data – 68% of the attendees felt data privacy and protecting customer information is the biggest challenge they face today.
- Biggest advantage for retailers from IoT adoption – 48% of attendees believe its real-time visibility and optimization across the value chain followed by 29% voting for superlative omnichannel experiences.
How IoT can bring value across the entire Retail ecosystem.
Areas like supply chain resilience, sustainability and future stores will be greatly impacted by the adoption of IoT and related technologies. As retailers renew their focus towards growth, there will be exciting new innovations, where the customer journey will be totally reimagined with IoT, and retailers will bring seamless shopping experiences to customers in both physical and virtual form.
We at TCS, believe that IoT adoption in retail will create tremendous opportunities for retailers to innovate, disrupt the old ways and become more sustainable and responsible in operations. Both TCS and Microsoft are prepared to traverse this growth and transformation journey with customers in the retail industry.
If you wish are interested to engage further with TCS, kindly reach out to firstname.lastname@example.org to setup a discussion.
You can visit the webpage www.tcs.com/iot, to find out more information about how IoT is Bringing life to things and helping companies to become resilient, adaptable and sustainable in their business.