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The Internet of Things (IoT) is a network of devices such as vehicles, appliances, and wearables that contain electronics, software and sensors along with the connectivity that allows them to interact and exchange data.
The potential of IoT in the retail sector is enormous. IoT provides an opportunity to retailers to connect with the customers to enhance the in-store experience. Smartphones and tablet pc will be the way for retailers to remain connected with their consumers even out of store. Interacting through smartphones and using beacon technology can help retailers serve their consumers better. They can also track consumers path through a store and improve store layout and place premium products in high traffic areas.