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IoT and Retail

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Find out how the IoT is fundamentally changing retail.

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IoT and Retail

  1. 1. IoT and Retail Jamie Warren, Technology and Innovation Director @jamiewarren
  2. 2. Firstly, some definitions…
  3. 3. 1. The Internet of Things
  4. 4. The network of physical objects and devices connected to the internet
  5. 5. World Population 6.3 Billion 6.8 Billion 7.2 Billion 7.6 Billion Connected Devices 500 Million 12.5 Billion 25 Billion 50 Billion Connected Devices per Person 0.08 1.84 3.47 6.58 2003 2010 2015 2020 Source: Cisco 2011
  6. 6. 2. A Thing
  7. 7. We are not talking about…
  8. 8. We are talking about… EVERYTHING ELSE
  9. 9. Everything that can be automated will be automated
  10. 10. Everything that can be connected will be connected
  11. 11. So, why now?
  12. 12. • Cloud computing • Cheap sensors • Everyone has a smartphone • IPv6 adoption IoT Enablers
  13. 13. 14 4 billion unique internet addresses 300 billion, billion, billion unique internet addresses
  14. 14. Show me the money
  15. 15. “The industrial Internet has the potential to add $10 to $15 trillion to global GDP over the next 20 years” - GE “The IoT will create $19 Trillion of Value at Stake for Companies and Industries” - Cisco “The worldwide market for IoT solutions will grow from $1.9 trillion in 2013 to $7.1 trillion in 2020” - IDC “IoT product and service suppliers will generate incremental revenue exceeding $300 billion in 2020.” - Gartner
  16. 16. “Trying to determine the market size for the Internet of Things is like trying to calculate the market for plastics, circa 1940. At that time, it was difficult to imagine that plastics could be in everything.”
  17. 17. Let’s get back to the point…retail.
  18. 18. Opportunities for Retail with IoT Customer Experience Data Driven Retail Supply Chain New Channels and Revenue streams
  19. 19. Customer Experience In Store ● Parking Assistance ● Smart Mirrors ● Smart Shopping carts ● ‘Queue busting’
  20. 20. Customer Experience Location / Behaviour ● Behaviour based pricing ● Personalised messaging ● Order anywhere / Virtual Stores
  21. 21. Customer Experience Product provenance and authenticity ● Fraud prevention ● Traceability
  22. 22. Case study : Disney Magic Band
  23. 23. Data Driven Retail ● Analytics ● Passive Wifi Tracking ● Gender and Age determination ● Connected shelf labels
  24. 24. Case study : Honest Coffee Shops
  25. 25. Supply Chain / Industrial Internet ● Machine-requested restocking ● Smart Shelves ● Product Life extension ● On demand production ● Fraud prevention ● Smart Packaging
  26. 26. Case study : Johnnie Walker Blue Label
  27. 27. New Channels and Revenue Streams ● Sharing fixed assets and systems ● New product development “I don’t need a drill, I need a hole in my wall”
  28. 28. Case study : Lowe’s Iris
  29. 29. 32
  30. 30. 33
  31. 31. Complexity • Machine-to-Machine communication is where the value is • No yet plug-and-play • Machine Learning vital
  32. 32. Capacity • Poor Connectivity • Insufficient Bandwidth • Fog Computing?
  33. 33. Security • Complex ecosystems • Security often an afterthought • “Pay up or the fridge gets it!”
  34. 34. Behaviour Change • Privacy concerns • More than half of U.S. consumers who have owned an activity tracker no longer use it.
  35. 35. Don’t Panic!
  36. 36. 1. Focus on Customer Experience. 2. Think Big Data and Analytics. 3. Design Security in. 4. Start small. Start now. Developing an IoT Strategy
  37. 37. “It used to be the case in business that the big fish ate the small fish, now it’s the fast fish eating the slow fish.” Joe Jensen, Intel
  38. 38. Thank you.

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