IoT Forum members gather monthly in Silicon Valley to discover innovation, exchange knowledge, build their professional networks, and above all explore partnerships across the entire IoT ecosystem. This month, IoT Forum meets to explore opportunities and innovation in Retail.
During a super wet week, the IoT Forum held our meeting on IoT in Retail. Our meeting was hosted by Nokia in Sunnyvale, and the presentations and discussions revolved around how to use connected devices, cloud services, and analytics to improve the retail experience. Although our meeting made no distinction, the topics were about 20% focused on eRetail, and about 80% focused on improving brick and mortar (B&M) retail by bringing many of the advantages and tools of the online world to the physical store.
We kicked off our meeting with an Analyst Presentation by our own Chairman, Derek Kerton. Derek’s talk focused on the Strengths and Weaknesses of both online and offline retail, but then shifted to how the latest technology could enable the B&M world to reduce their inherent weaknesses, leverage their strengths, and add new strengths.
Next up, Greg Tanaka of Percolata gave us a presentation on how stores can use predictive analytics to precisely allocate HR, one of the most expensive elements of B&M, in order to meet customer needs without overstaffing.
Our panel included carrier (AT&T) as well as handset and equipment vendor (Sony Mobile) viewpoints on the kind of hardware and connectivity that is driving IoT into retail. We wrapped up the meeting with 8 rapid-fire presentations from innovators in the space, ranging from better wireless connectivity and 5G penetration to indoor mapping, to analytics, to bridging the online and offline retail journey of customers.
Thanks to Nokia for hosting, and the presentations are available in our Member’s Library.