B W S M A R T C I T I E S W O R L D N November - December 2015 N66

Tech

Talk

where every day is not a sunny day of bumper sales. Irrespective of the day, the owner still wants this data to plan strategies and promotions accordingly.

You say that understanding IoT can help businesses boost sales. How would you explain that?IoT has different connotations for different people and this ambigu-ity can often get confusing. No one has a secret sauce or a ready-to-reference guide to success. You need a Robin Hood who fetches the big data analytics & serves on to each retail touch point for better consumer experience & hence forth sales. There is significant value to be realised in improved financial and operational efficiencies.

Sitting on the shore is no longer an option. The tide is turning,

THE INTERNET OF THINGS (IoT) buzz has fast-tracked in recent months, specifically in

retail. IoT is the one of the most innovative tools for retailers to be more “connected,” “intelligent,” and “smart”. The goal here is cer-tainly to enhance the consumer experience and IoT will enable that in futuristic and fantastic ways. But this should not be any retailer’s sole focus, and certainly shouldn’t be their initial focus.

What is the importance of IoT in Retail?A famous retailer quote goes: “Half my advertising is wasted; the trouble is, I don’t know which half.” Retailers today can either look at IoT in terms of boring sensors, devices and processes but if they do so from a customer’s perspective, it reveals an exciting world of oppor-tunities to build the right experience and analytics along the path-to-purchase. The traditional way of gauging business health starts with store footfalls and sale numbers

Robin Hood of Offline

RetailIT solutions and services leader SwaranSoft

has cemented its place as a business catalyst for a diversified set of customers. Founder & MD, YOGESH HUJA, tells BWSC how the

company is looking to give offline retailers an edge in a cut-throat world by reviving brick-

and-mortar stores with IoT

IoT allows you to understand shoppers and their behaviour based on online searches that are a day or even a few minutes old

B W S M A R T C I T I E S WO R L D N November - December 2015 N67

trade is investing in IoT. Once an IoT foundation is in place, retailers can identify practical ways to build on this new environment. As an online dotcom can easily change the position of products on its homep-age based on online analytics, we confirm that offline retailer will be able to build even a stronger case with IoT analytics.

What is Big Data & how is it an integral part of IoT?Big data refers to large volumes of data or complex data sets for which standard data processing applica-tions are not suitable. We have billions of sensors to capture data in real-time, with a towering need to process the same. Understand a mass data produced in a mall or big market & how this can be smartly processed for serving to businesses to plan promotions, engagements & build right consumer experience. The future’s connected compe-tences will ask the best of structures and devices.

How should a retailer use IoT?A retailer can start as small as in store touch points, moving on to footfalls counting sensors which capture dwell time at each store & its sections. Adding a motion sensor could signal the digital signage to display a welcome image when someone is approaching. Retail-ers can build loyalty applications and tie the signage or store shelf to a sensor. Baby steps, if you will. Then there is your very own Robin Hood with a secret of the Shire to

the shopper’s need allowing them to pull it right off the shelf even as they greet the shopper. System-driven intelligence pushes recommenda-tions regarding accessories that can be added to the shopping list. Creat-ing a renewed shopping experience in offline retail will help retailers increase units per transaction.

How does one find the right balance between the boring and exciting facets you speak of?Setting up sensors may be boring but discovering new shoppers using IoT is exciting. The common goal is a seamless shopping experience across channels to boost sales. The ultimate aim is to eliminate chan-nels, not connect them.

How can a retailer build a long-term strategy?Adopting IoT in retail primarily means setting up building blocks for effective consumer experience. Those in the trade know how hard it is to be systematic and deliberate when success is being measured over one fiscal quarter or season at a time. To begin with, start with a purpose statement. Collaboration in the ecosystem is pivotal.

You would require few sensors, gateway, telecom connectivity, cloud, an application, and your own mind share. Have a long-term goal in mind, a roadmap to target and deliver incrementally. Always eat a smaller piece of the pie to savour the flavor before trying out new recipes. Let your Robin Hood do the rest!<

boost your sales! Sign up at www.freedom.desi and let the conversa-tion begin.

Can offline retailers do battle with the “dotcommers”?Yes, IoT allows you to understand shoppers and their behavior based on online searches a day or even a few minutes old. Identifying a shopper the minute he or she walks in, an offline store IoT can trigger alerts to shop-floor associates about

56 % of smartphone users plan to use their device while shopping: ACCENTURE

85% of shoppers prefer personalised offers reflecting their past shopping behavior: SYNQUERA

54% use or would like to use digital touchscreens in-store: CISCO

61% would visit and do more shopping in a store with beacon marketing campaigns: SWIRL

60% and above would choose stores because of online services in store: ZOGBY ANALYTICS Survey

THE NUMBER SHOP

Sources: As shared by the interviewee