What is Internet of Things (IoT) in Retail? Explained

The Internet of Things (IoT) encompasses interconnected devices and objects that collect, exchange, and analyze data through the internet. Applications include smart shelves, connected inventory systems, and beacons for enhanced operational efficiency. IoT technology enables real-time data gathering on inventory, customer preferences, and store conditions, empowering retailers to make informed decisions. Leveraging IoT, retailers optimize supply chain management, personalize customer experiences, and create efficient and responsive retail environments.