Want to have a better-streamlined business with increasing sales and customer satisfaction, then read this to know more about IoT
People are becoming more adaptive to online shopping and its vital for E-commerce players to leverage technology in this industry in order to provide exclusive services that increase the customer delight.
When it comes to technology of eCommerce business, IoT is the latest buzz and any network of interconnected devices can be part of this technology.
impact on business
What is IoT (Internet of Things)?
Devices connected together through the internet in order to communicate and work together is what we call as IoT. If your phone communicates with the car in order to turn on the music system or AC then its technically a part of IoT.
How can the IoT Impact Ecommerce business?
IoT influences the eCommerce businesses at large these days. With the initiatives of smart mirrors as one of the IoT devices that enables customers to try clothes and jewelry virtually. This help the customers to make buying decisions easily and accurately. With this, increases the eCommerce sales by helping customers to have the right and trendy products in their kitty.
See Below How exactly IoT works for E-commerce business
IoT makes it easy to keep track of inventory. RFID tags and IoT sensors help manage inventory in real-time. This technology helps to streamline the entire inventory flow efficiently.
- Easy tracking and monitoring of all the inventory items
- Reduces human errors while reordering items
- Automatic & Easy storage of information like manufacturer name, product type, the expiry date of the product and batch ID’s without human intervention.
- Tracks and Indicates out of stock products.
- As soon as the stock reaches the reorder level it automatically places the order of that particular product.
- Eliminates overstock items stored in the warehouses.
KartzHub software is one of the best examples of IoT that would help an eCommerce business to work efficiently and in an automated way.
Supply Chain Management
Efficient and uninterrupted supply chain management is necessary to carry the operations of an eCommerce business successfully. IoT enabled software ensures that goods move from one place to another efficiently and smoothly. Enables tracking of the products right from the production stage to delivery.
GPS and RFID technologies help to track the products in transit while providing the complete detailed information about the temperature, location and many more. It predicts the arrival time period of the products to your warehouse while ensuring that no shipment is lost or misplaced in the transit. You can also use sensors in the delivery trucks for real-time tracking which also helps in decreasing the losses.
It enables an online business to set themselves apart from other competitors in front of their customers. For example, Walmart uses the IoT technology to know the insights about the products that are very much popular in social media. This helps the retailer to deliver an exclusive shopping experience to customers with a higher level of personalization that leads to clients engagement and satisfaction.
What more can IoT do?
- Helps in personalized advertising to target some specific set of audience for an eCommerce business.
- Recognizes various shopping patterns in online browsing and search trends.
- Enables a seller to sell the targeted product to their customers.
- It allows customizing services and products as per customer choices.
- It makes possible to influence a customer’s purchase decisions.
- Report issues even before they are noticed thus improving customer service.
- Businesses can easily recognize and solve possible complaints thus leading to customer satisfaction.
These all listed aspects would contribute to increasing your sales and customer base. As more devices are getting connected and gaining smart features, it is helping to gather more data and improving customer experience. In the near future, there would be more add-on introduced to IoT which will only help increase your eCommerce business.