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The IoT and Near-Real-Time Retail Personalization
Is this the retail sector's best hope?
Mar 10, 2019—
From websites to mobile devices to social media, technology has dramatically changed how brands and retailers connect with customers throughout the past 20 years. These days, retailers are embracing the Internet of Things (IoT) as the latest technology to drive a superior customer experience. The IoT, coupled with the right insight into customers, can provide a stronger connection between retailers and shoppers, delivering more value and increasing brand loyalty.
Shoppers are more empowered and connected than ever, and expectations are changing. Mobile phones have become handheld shopping malls, with social media playing an increasingly important role in driving purchases, collecting feedback and deepening brand loyalty.
The Data Challenge
By consolidating IoT data with other data streams (website traffic logs, point-of-sale, warehouse information, customer support and so on), retailers have the power to completely transform the customer shopping experience from a mass-market, cookie-cutter promotion to a personalized shopping experience. Below are a few data-driven strategies that retailers can leverage when it comes to implementing IoT technology in-store:
• Use in-store IoT data to track and encourage consumer behavior.
• Promote merchandise based on up-to-the-minute, relevant data.
• Scan-and-go with RFID tags that carry the information consumers want to see.
The IoT in retail is not something coming—it is here. The best way to compete in this new frontier is to offer a solution that helps automate as much of the information management and connected retail processes as possible.
Charlene A. Marini is the VP of strategy for Arm's IoT Services Group. Charlene is responsible for driving Arm's strategic growth opportunities in the IoT. With extensive experience launching and growing new business initiatives, cultivating partnerships and developing technology and business ecosystems, she works with stakeholders across ecosystems to realize the value of the IoT. She joined Arm in 2004 and has held various marketing and business-development roles within the company throughout the past 14 years. Prior to working at Arm, Charlene was a system-on-chip design engineer. She holds an M.A. degree from Columbia University and a B.S.E.E. degree from Brown University.
To learn more about how Arm has taken a customer-centric approach by leveraging IoT data, check out the company's new retail solution.
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