Internet of Retail Things Paves the Way for Autonomous Retailing.cdr

According to IDC, there will be 30 billion connected things by 20201. The Internet of Things market for retail is expected to grow at a CAGR of 48.36% for the period 2014-2019 according to MordorIntelligence2. The adoption of IoT to create a more intelligent and connected retail ecosystem is referred to as the Internet of Retail Things (IoRT). By delivering networked information to relevant systems and end-users on a real-time basis, IoRT can catalyze the development of new business models and expand the scope of retail services. Combining IoRT with people, processes and digital technologies can lead to information rich, actionoriented, 'situationally aware', and 'contextually correct' retail entities, thereby leading to an autonomous retail world Such a retail environment focuses on servicing rather than selling, is self-regulated, rich in networked information, characterized by higher levels of operational effectiveness, and well prepared for future growth. WHITE PAPER Retail