Retail & Hospitality Heating Up For The Next-Gen in Digitalisation
How smart retail is the key to unlocking the ultimate customer experience
The sizzle of the digital age has worn off, and we are left with businesses that are in urgent need of connectivity. There is no denying the retail industry is jumping off the road well-travelled to board the train of interconnectivity, but where is that train headed?
The need to create an interconnected ecosystem of assets, systems and processes to unlock real-time solutions and achieve unbiased data collection is not news. However, there’s an issue that’s getting the retail and hospitality industry hot under the collar – minimising downtime during implementation.
As the retail sector steps up to discover the necessity of results-driven decisions and processes, we challenge businesses to look to vendors who can quickly show value by creating smart landscapes and gear up for the future of their industry. The ROI that comes from partnering with the right vendor is, in our opinion, unquantifiable.
What does it mean to implement smart IoT systems?
What would it mean to receive real-time data on customer satisfaction?
Going a step further, how would receiving real-time data from your equipment increase the likelihood of customer satisfaction?
This is just a small part of the potential of IoT-based solutions in retail. The power to monitor the condition of your business in real-time, and react quickly to anomalies in your day to day operations. The applications across the retail and hospitality are endless, connecting hundreds of endpoints to collect the data that matters to your business.
Who said fast food couldn’t be smart? Frying up fast food
The next-generation in digital interconnectivity is hitting the hospitality and restaurants, particularly fast food. The entire fast food system relies heavily on equipment functionality and processing speed. Customer experience and satisfaction can be hindered when equipment not only fails to function but also fails to perform at its maximum potential.
This is where IoT comes in. IoT-based solutions can unlock the maximum efficiency in your fast food business operations. Don’t leave your operations to the elements – take control and monitor every single aspect of your business – from fryers to checkouts.
A connected, smart kitchen doesn’t have to mean your old system is on the outs. Rather than rip and replace, we overlay IoT technology onto your existing business structure. IoT isn’t about an overhaul; it’s about enhancement. IoT offers unparalleled data collection, like sending data directly to you when machinery is failing or about to fail, track and receive vital operational data from fryers, for example, like temperature, fault diagnostics and equipment wear and tear.
IoT is all about levelling up your systems to receive real-time data that inspires evidence-driven results to maximise the potential of your business, producing the finest customer experience.
Digitalisation for next-level retail merchandising
If you embrace a technology-agnostic mindset and interconnected assets at the core of your retail business, then you can streamline data for real-time results and analytics. Moreover, what’s at the heart of the retail industry? The merchandising function.
To increase efficiency in the merchant-customer supply chain, merchants work in a cross-functional team, enabling not only improved productivity but also vertical integration. Working in a cross-functional team has enabled merchants to be more versatile in the market and adapt quickly to ever-changing trends to ultimately create a seamless customer experience.
With the age of digitalisation very much upon us, the past no longer suffices as a good indicator for the future. The old ways are dead, or more so, don’t work to create an experience is that satisfactory for the consumer. Automation of insights in how to plan and cultivate a retail experience will have a meaningful impact on how a merchant operates; enhancing the role and in turn, allowing the business’ customer satisfaction to reach its full potential.
Asset tracking for real retail solutions
Take Vodacom World, a flagship cellular space, housing facilities including restaurants, offices, conference rooms and a gym. It’s a one-stop, candy wonderland for all things cellular, setting the bar high for similar service providers in South Africa.
The challenges facing this kind of technological feat are extensive, the significant difficulties including stock control and security. To future-proof Vodacom against these challenges, the IoT solutions should include installation of passive RFID readers, real-time data monitoring for stock movement, updating asset register in line with the sale of stock (eliminating the ever-haunting over/under stocking issues).
On the customer-facing side, Vodacom also uses IoT systems to track kids movement with alarms when they stray – leaving parents to relax in the environment.
Ultimately, all IoT-based solutions lead to an improved customer experience, no matter whether the implementation is external and internal.
The new, smart way to reach your customers
Imagine closing the business loop and going as far as to include marketing. It’s come a long way since leafets drops, and even print ads are becoming old news. Digitalised marketing is a foundational prong in the Fourth Industrial Revolution. The application for IoT-based marketing in retail, particularly in customer experience, is boundless. Having the power to effectively collect data and analyse insightful analytics for a tailored customer experience is invaluable in your marketing strategy.
Seizing strategises like tailoring your physical store experience to each customer, embedding digitalisation in the physical store to improve usabilities, like online reviews, extensive product info and Facebook or social product finder will set the bar for an impressive customer experience. By tracking and efficiently implementing customer data via IoT systems, in line with run-of-business logistics and processes, increasing activity with the ebb and flow of stock availability, retail can and will retain smart systems that will future-proof the industry.
Any Industry. Endless Possibilities.
Future relevance, effective solutions and no rip and replace. That’s IoT.nxt. Bankable RIO within six months of installation? That’s IoT.nxt.
Let’s enhance your business together with unbiased data monitoring and collection, next-level insights to perfect business operations and overall create the best experience for your customer.