The IoT is transforming the retail industry
The IoT, digitization, and the availability of an abundance of data are opening up new possibilities for the retail industry. Retailers are currently evaluating models of how they can use these technologies to reconcile their two strongest drivers:
- The need for higher efficiency and cost reduction,
- and rising consumer expectations regarding service and store experiences.
In order to achieve these goals, retail companies are increasingly digitizing their stores with the help of the IoT. The challenge here lies in the large number of heterogeneous and often siloed solutions that currently exist. IoT platforms help integrate these solutions to enhance operational efficiency and implement effective IoT use cases.
How retail companies benefit from the IoT
The IoT leads to process and cost optimization and customer satisfaction in retail.
The automation of monitoring processes and the consolidation of device data within one solution improves in-store efficiency and has the potential to cut third-party maintenance costs, energy consumption, and food wastage.
Efficient store processes free up staff time for customer service requests and lead to an overall positive shopping experience.
New business models
Innovations in parking lot management and the intelligent management of self-produced energy are examples of new IoT business models from which retailers can benefit.
Why partner with Bosch
Bosch Software Innovations teams up with retail customers to realize the full potential of a connected store by crossing business and technological barriers.
- We bring together IoT technology, hardware expertise, and project competence to increase efficiency for our customers.
- We accompany our customers through all project phases: from kick-off and PoC, to implementation, operation, and support.
- We offer a cost-efficient use case approach based on an open IoT platform.
- We open IoT silos and reduce complexity, use of resources, and costs.
- We open up data-based business models and new revenue streams for retail companies.
- We build a cross-domain ecosystem for retailers, OEMs, and solution providers.
IoT use cases for the retail industry
The Bosch IoT Retail Team provides IoT solutions and digital services to help retailers achieve their goals.
Basis for our IoT projects in retail: the Bosch IoT Suite and a strong partner ecosystem
The technical basis for our projects is the Bosch IoT Suite, the Bosch platform for IoT solutions. The solutions we deploy for our retail customers run on various cloud environments, such as Bosch IoT Cloud or Microsoft Azure, as well as on-premise.
Our customers benefit from a strong ecosystem that brings together retailers, device manufacturers, and service providers to facilitate easy-to-use digital services and new business models.