Sit back and imagine afuture where everyday objects are able to identify themselves to other devices thanks to their internet connection. Consagous Technologies digs further into the Internet of Things from the pov of e-commerce.
Everyday ‘objects’ are basically turning intelligent and becoming capable of communicating with other objects and this is what forms the basis of Internet of Things (IoT).The principal communication method in use today is RFID (Radio-frequency identification) technology including wireless and QR codes technologies.
This communication between of & between physical objects, using integrated sensors and other devices, collects and transmits information. The information collected is then analyzed to optimize products, services and procedures which in turn saves time and money, even lives.
Let us take a look at a prevalent example of IoT – The Philips Hue lighting system. These smart bulbs can change to any color you choose; they’ll even match the tones in a photo that you upload via the app. They can also be turned on and off on a schedule or from your smartphone, and the Hue bulbs can even be synced with your music for an awesome sound-and-light party. Other companies are starting to release smart bulbs as well, making this a more competitive niche.
Like most other IoT smart home devices, these can help you save money on energy bills.
With IoT, anything can be connected and communicated intelligently. The whole world then metamorphoses into a one big information system. After all, everything and anything uses internet to connect in some way today.
The gradual digitization of the world has changed the way entities, organizations and individuals interact, act, learn, decide and respond. And in this ambit e-commerce comes as well.
The world today is getting surrounded by objects that can interact, from refrigerators to clothing, cars, lights, thermostats, alarm systems, etc. Therefore, IoT is not a fad anymore, but a norm.
As the world population gets further connected to the internet, it will and is asking for more and more interconnectivity of its everyday life objects.
Now what potential does IoT hold for e-commerce?
Collection of Data
Data collected from IoT connected devices will be more and more used in the future to get more insight from people lifestyle habits for building focused marketing campaigns. For ex., a Fitbit like device communicating with your e-commerce app for some discounted healthy snacks, protein shakes, etc.
Order Preparation & Delivery
IoT devices could play a major role in the courier and goods/parcel delivery aspect of e-commerce. For ex., self driving cars or smaller vehicles could deliver parcels being sold on an e-commerce platform.
IoT brings in Big Data
IoT devices are an endless source of data about consumers’ routines & preferences. But that massive data can’t be deciphered in its raw and massive form. What is needed is a unified data platform that will gather several data sources giving a 360 degrees view of customer activities. Deep machine learning technologies already show great potential in gauging data relationship and will for sure be a part of IoT next development step.
Real life e-commerce
The IoT devices/objects act like a local small focus group, gathering results wherever they are displayed. This is how data collected through tangible goods helps your e-commerce biz grow. For ex., Pepsi Co. introduced soda fountains with which people can customize their drinks with extra flavors. This machine helps a beverage giant like Pepsi in monitoring the type of flavors and drinks people prefer in a particular city/area.
There is a lot for e-commerce to benefit from the IoT boom, you just need to be wise while choosing the platform your product will use and concretely ensure the security of the IoT devices for your business’ sake and of course, the customers. You can also partner with other firms to get data you need to improve your e-commerce marketing strategy as this whole thing works as an ecosystem.