March 25, 2019 Last updated March 19th, 2019 263 Reads share

IOT – Transforming the Face of Shopping Malls

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“The Internet of Things is the game-changer for an overall business ecosystem transformation.”

Joerg Grafe

With next-generation sensors crawling rapidly encompassing almost all industry zones over the globe, the Internet of Things (IoT) sensation needs no looking back. The world of IoT is garnering increasing focus in almost all segments, owing to its swift and efficient collection of sensors, associated via the Internet with a large variety of things, that could range from a simple electronic item to an assembly of devices. Monitoring and analyzing statistics from day-to-day activities has become easy, manageable and has taken a step further, beyond our imagination, thanks to IoT applications. The best part is the well-budgeted sensors that have emerged today, facilitating IoT to be available to all. The wireless connectivity that it offers is availed by a widespread number of users who leverage the potential of this cutting-edge technology.

 

IoT in Shopping Malls – An Enriching Experience for All

IoT has surely revolutionized the experience of shopping in malls today and it is getting better and easier day by day. Gone are those days when customers had to search for products that they wanted for long. Here come the innovative mobile apps and sensors that offer exact guidance into whatsoever information is needed.

This is what happens:

The visitor, with an area/product in mind, enters the shopping mall and is looking for his/her choice of product. Be it the shop or any product, IoT ensures the mobile apps offer the exact information in requisite details. There is a transfer of notifications/alerts that keep the visitor updated. IoT also offers indoor location related information. The sensors are all set to guide the customers in a perfect manner.

IoT has escalated the shopping experience to a large extent, challenging the traditional aspect heavily. Based on in-depth customer behavior and demands in the malls, the IoT app development guarantees reduction in complexity of shopping process by saving big time on time by offering information well ahead of time and in terms of cost also by offering prevailing discounts/schemes, not to be missed. Owing to the mobile application, the customer and the IoT devices are continuously connected.

5 Key Benefits of IoT Application Development in Shopping Malls

By 2021, retailers are planning investments in Internet Of Things (70%), machine learning/cognitive computing (68%) and automation (57%).

Forbes.com

  • A Great Marketing Tool for Business Owners

Internet of Things can be of great help to business owners in the shopping malls since the sensors and the mobile app can act as great marketing and advertising media to reach out to appropriate audiences. It can hit the right target spot since there are consumers looking out for the needed product. This medium can allure visitors roaming around the premises by sending the message at the appropriate time and location so that the person is bound to get attracted to visit the shop right then.

  • Can Read Customer Perspective in Detail

The best part is because of a close collaboration between customer preferences and product availability lies the IoT based mobile app and the sensors that effectively pass on the customer likings and preferences to the shops and the product information and details to the customer, very accurately and exactly when it is needed. If we look at it from the customer’s angle, it surely lessens the burden on their head since they don’t have to bother searching for their needed item. It also gives a sense of priority offered by the shop to the customer, since they get all relevant discounts and schemes as soon as they visit the premise.

  • Saves Big Time on Time and Money

It’s a two-way profit zone. The business owners profit out of the increased sale and better customer retention. The custom benefits out of getting desired purchase done quickly and by availing various schemes. The client also gets real-time images to have a clear idea of how the product is and how does it match with the trends. All these put together surely bring about a large amount of positive impact on the cost-effectiveness and time spent.

  • Convenience Par Excellence

After all, convenience is what everyone looks for and that comes in ample with IoT around. This is not only for visitors, but it also applies equally to shop owners as well. Without IoT, it isn’t possible for shopping malls to offer their customers before-hand information. It is because of this technology that the visitors know almost everything prior to reaching out to their physical target. And that offers a lot of expediency to all stakeholders.

  • Large Scope for Future Growth

IoT technology has just begun to showcase its magic. There is much in store for all. Trends are changing, expectations are increasing and so are valuable additions. There is much innovativeness being showcased at shopping malls with customer satisfaction as the prime objective. There are novel ideas like concerts, art exhibitions, game shows, quiz shows etc. that are pulling crowds of all genre and IoT assisting these activities on a big scale.

Beacons – An Internet of Things Device, Winning Business

The future of shopping malls depends heavily on the fundamentals of proximity marketing which is the most popular strategy all over. Location-based campaigns, data collection, free access Beacons are making news and are bent upon offering the right information at the right time in the right format. Beacon application development is based on beacons – low cost, low powered and low energy Bluetooth devices that use low frequency to transmit signals to other Bluetooth enabled devices.

In shopping malls, as soon as customers roam around their desired area, Beacons will send an alert on the devices with an appropriate message, which will entice the clients and garner higher sale. Beacons have come up as one of the most demanding and affordable marketing mechanisms in shopping areas to give an exhilarating experience to both – customers and shop owners.

IoT  Has Its Own Set of Hurdles to Clear, here are They

  • Appropriate Asset Management

Internet of Things is all about connecting assets with each other through networks. Hence, the entire crux of a successful implementation lies in suitable management and monitoring of assets involved in the project. With in-depth security and safety guidelines to abide by, the IoT apps need to cater to what exactly does the customer need and how well does it a map with the assets involved.

  • Access to Variety of Data

In a way, IoT opens the world of data before all stakeholders involved which surely is a positive point. The finest use of this data offers great business results in terms of efficiency and growth. Offering data access to business owners surely is a great idea to all but what if someone does misuse of that data? Thoroughly managing, monitoring and security of the data is one of the biggest hurdles faced by business owners in shopping malls.

  • Precise Definition and Scope of IoT

As IoT is a vast concept, there is so much that business owners are still not fully aware of it. which is why it is tough for them to understand the scope of implementing IoT in their business area. it is important for them to understand that IoT is not only about a technological implementation, but it is also all about connecting people, business, sales, profits, security and much more. Business owners need to be confident in this technology and move ahead with features and benefits offered.

On a parting note, what amuses the globe and especially the shoppers and shop owners are IoTs competency skills to connect seamlessly between networks, people and assets. It is a true and proven fact that IoT has been a blessing to all – be it the visitors or the business owners. There is much in store for a happy shopping experience.

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Ankit Kumar

Ankit Kumar

A Tech enthusiast, Business Development Manager at SPEC INDIA. A good listener and reader. Global Enterprise Web and Mobility, CRM and Sales Force Automation Consultant. Interested in New Web, Mobile App, Big DATA, BI technologies, Engaging with new people around the globe.

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