What Is IoT And How Can It Help An Ecommerce Business?

I must say, what an exciting time to be alive! To be part of this fast paced digital age, where billions of devices from smartphones to computer to virtual assistants AI technology, all communicate and “talk” to one another. In this ever evolving digital sphere, those who can make use and adapt to learn this attribute can reap unimaginable for their businesses! Are you someone puzzled with queries relating to how this integrated technology can energise your e-commerce business? Then read on!

What Is IoT?

Internet of things (IoT) is a unique system of interconnected computers, mechanical devices and digital machines which enables them to transfer data amongst themselves without the need of a “human touch”.

Want it simplified? Imagine your alarm clock, knowing the path and location to your office, computed the traffic conditions, estimated your arrival time and woke you up accordingly! Less traffic on the road, and more sleep! Crazy to think but that is what IoT is!

How Is It Linked To E-Commerce?

IoT (Internet of things) and ecommerce are cut from the same piece of cloth. Or more so ecommerce is born from IoT. Simply put IoT is sharing of data between devices over the internet, and when this logic is applied to transactions, it becomes E-commerce!

Today’s lifestyle very much supplemented the growth and popularity of the duo. With online shopping, and social interaction through social networking sites so on and so forth. The online space is where who can conjure a profitable business for this new band of customer base.

How Has IoT Evolved The Field Of E-Commerce?

  • Security And Surveillance

IoT advancements help you to maintain the inventory records by incorporating sensors enabled with IoT. This allows for data capture and analysis of it, in a real-time basis. These IoT enabled devices can take in all the critical data pertaining to a product without needing any human presence. Because of this, it factors out any human errors that may dissatisfy your potential buyers on things like expiration dates, product availability and many more aspects. If the inventory for a particular product is falling short, IoT will inform the required to the person before the stock runs dry!

  • Real-Time Tracking

A very important part of logistics is to ensure that the product is delivered to the customer intact and in the way it was supposed to be. Apart from these, the delivery time and quality of perishable goods are also to be considered when delivering. All this can be solved by IoT sensors that track the product right from the beginning to the very end, until it’s delivered. This eliminates the problems relating to misplacement and quality as the shortest route is computed using GPS (Global positioning system) and RFID tags (Radio frequency identification).

  • Bringing In The Customers

Another aspect of IoT is that it helps your customers to put forward their thoughts on the product. This is crucial as this helps you amend and improve facets of your product. What’s more, IoT targets your specific customer for an ad that is more or less personalized. It closely studies your customer’s browsing history, their shopping patterns and allows your product to reach your target audience.

This in essence helps increase the conversion rate!

  • Helps Make The Best Of Things

IoT helps to optimize and improve the productivity of your e-commerce business. This helps reduce wasteful expenses. Sensors integrated with IoT monitors many factors that can affect your products quality such as the humidity, temperature and so on. Several other functions such as the transport of the order within the warehouse, the product stocks, the pick-up times etc. Have a look at the tech retailer giant, Alibaba making use of Cainio’s IoT worker robots in their warehouses to move and segregate various sorts of goods. These robots self-charge when they feel they’re on the low. The result is that human labour has reduced by 70% and the output increased three folds!

What Can I Expect From The Future Of Internet Of Things?

IoT Is making leaps and bounds sprouting new advancements every other year. IoT takes in enormous amount of data from various platforms. Companies like Alibaba and Amazon leverage the power of machine learning and big data analysis to collect data. This data is then used for pattern recognition, predictions and allow for attracting more qualified and interested leads.

The future can expect improved quality management, tracking, planning which will help set a business apart and also cut down on its useless costs. With more and more e-commerce businesses sprouting it is expected that IoT will help around 70% of them globally, to help them create better shopping experiences for consumers.

The Epilogue

The possibilities are endless and technology is limitless. Only time will tell, what challenges lies ahead for IoT to eventually take on and win!