11 IoT Retail Stats Every Retailer Must Know

  • By glider
  • Published: 15 Nov 2018
  • 2 Minutes Read

Internet of Things is promising to impact every industry and transform the way business is done. Retail industry too is witnessing adoption of IoT devices and solutions in areas of merchandising, predictive marketing, supply chain and storage etc. Here are 11 key trends in retail IoT which every retailer must be aware of

1. Revenue Opportunity
Retail IoT Solutions from [x]cube LABS Worldwide Retail Industry IoT Revenue Opportunity by 2018.

Source : IDC

2. Annual revenue growth

IoT in Retail - Revenue Growth - [x]cube LABS
Revenue CAGR for the period 2013-2018.

Source : IDC

3. Retailers getting ready
96
Retail decision makers are ready to make changes required to adopt IoT.

Source : Zebra

4. Retailers are embracing IoT
67jpg Retailers surveyed have implemented IoT.

Source : Zebra

5. While others are planning to do so
26 Retailers are planning to deploy IoT solutions within a year.

Source : Zebra

6. Expectations from IoT
50 Retailers expect IoT to provide operational and actionable data on the location and condition of tracked objects which can help empower process and cost optimization in the supply chains.

Source : Zebra

7. IoT impact in retail
50jpg Reduction in shrinkage enabled by IoT based on an estimate of the big three UK supermarkets.

Source: Morgan Stanley,SAP

8. IoT impact in retail
2 Lower cost-to-sales ratios enabled by automatic checkout at the supermarket.

Source: Morgan Stanley,SAP

9. IoT impact in retail
22
Potential margin enhancement through supply chain efficiencies and targeted marketing.

Source: Morgan Stanley,SA

10. Challenges to IoT
56
Respondents listed integration challenges as the top barrier to IoT implementations.

Source : Zebra

11. Challenges to IoT
47
Respondents consider security and privacy as a chief concern.

Source : Zebra

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