Internet of Things (IoT) technology has changed lots of things in our lives and its impacts are increasing. Internet connected devices in our lives taking a step further from day to day. New IoT applications are taking part in daily lives of us. We started to use not also smart phones and watches but also smart televisions and refrigerators. They are all connected to internet. they are collecting data and uploading to the internet to solve daily life frustrations. For example, refrigerators capable of suggesting meals with your existing ingredients are not dream anymore. We are talking about even smart homes and cities. Think about the future. IoT will cover all over the world.
Impact of IoT technology on ecommerce is irrefutable. Some companies have already implemented IoT applications on their stores. Number of the companies applying IoT technology will increase in the upcoming days.
From the viewpoint of retailers, IoT applications can improve customer experience and increase customer engagement. Finding a product in store by only using a smartphone without time and effort loss can change the purchase decision of the customer.
How Can Ecommerces Benefit From IoT Applications
IoT requires hardware and software. Once you invest in these components of IoT, revenues will appear in both short term and long term. Sensors have common usage on the hardware side of IoT. Sensors create data and how to use the data is up to you.
Stock management can be a big challenge for ecommerces. You are probably using an ERP system. In such a case, an IoT application can be very beneficial. Sensors attached to tags of the products can provide real time stock management. However, by using ERP and IoT system in harmony, you can gain immense revenue. You can make better decisions such as how many units should be kept in the stock via real time inventory management.
Not only stocks but also transportation can cost much things including loss of customer. We are already can track the deliveries but via IoT applications, our abilities will be extended. Using drones seem the future of logistics which means we will not need human-driving-vehicles anymore. This enables us to see the failures before it is happened because drones are programmable and decrease the costs. For example, you can determine the best route for your delivery.
These are two general cases but we will see lots of new applications of IoT next days. However, it is advisable to apply this technology to your ecommerce regarding abilities and restrictions of your business starting from today. If you want to learn more about IoT applications here is a good resource. Also, you can take a look at this infographic.