Technology changes the way in which we live at an extremely fast pace and businesses have to keep up, if they want to be successful. The Internet of Things (IoT) is not simply the new kid on the block, but a totally revolutionary development of the use of the internet as we know it. It is all about connecting all electronic devices and machines so that they can send and receive data. This is happening right now and has a revolutionary impact on every sphere of life and on all industries including e-commerce. Let’s take a look at the major transformations which this particular industry is expected to undergo in the coming years.
Innovative Shopping Experience and Contextual Purchases
Traditionally, people visit your online store via a connected device, browse through the pages, look at and compare different products and then make a purchase. IoT can make this process quite different. Let’s say a person is watching TV and sees your ad about a great special offer. The consumer can make the purchase directly at your online store via his smart TV without even having to leave the couch. Having prospects act on impulse and making a purchase immediately after they have made the decision to do so can drive e-commerce sales up immensely. To take full advantage of this innovation, businesses need to make the actual purchase process quick and simple.
Shopping and buying will be more personalised than ever. Smart devices will not only be able to alert the consumer when he has run out of something, but to make actual product suggestions. For instance, a printer will be able to tell when new toner will be needed and to present the most suitable types and deals. Similarly, a coffee maker can make suggestions regarding the ideal blend and package size. Retailers involved in e-commerce can take advantage of this trend to gain more customers and keep them.
More Efficient Supply Chain and Inventory Management
As a retailer of physical goods operating online, you would want to have more efficient planning and to reduce delays and losses to the possible minimum. The Internet of Things is making major improvements in this field. With accurate transportation vehicle tracking, you will be able to set precise time frames for the loading and uploading of products. You will also receive alerts about delivery delays and other issues. This will help you to organise processes better and to overcome challenges more quickly.
There are major breakthroughs in warehouse management such as keeping track of the environmental conditions. Special sensors integrated with your inventory management software send data about temperature and humidity allowing you to make timely changes for keeping inventory in good condition. Inventory item tracking is a technology already used by many companies. You will receive immediate notification when an item is removed from the premises. This can help you to reduce losses to the possible minimum and to pinpoint and eliminate ongoing problems.
The Internet of Things is here to stay and you can seize all opportunities which it offers to online retailers.
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