4 Tips for Success in the Age of Real-Time Retail

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The Internet of Things, or IoT, enables retailers to stand out by providing real-time offers, inventory insight, and live shopping opportunities.

Retailers are responding to a consumer demand for in-store offers and more efficient retail solutions through various implementations, ranging from real-time in-app inventory filters to facial tracking that aids in trying on products.

Succeeding in the age of real-time retail should be a point of interest for any retailer, with in-the-moment store management and retail solutions offering increased efficiency and user-friendly appeal.

Several notable retailers have already tied in the IoT to accomplish real-time retail, with some of their examples inspiring tips on succeeding in this sphere.

Tip 1: Offer Real-Time Promotions

There's an alarming gap between the percentage of customers who want real-time promotions — 47 percent — and the percentage of retailers who offer them — 7 percent. As a result, retailers that focus on providing this type of promotions stand out from their competition. Consumers are increasingly likely to use their smartphones while in stores to see if they can take advantage of any offers. Retailers are wise to bundle real-time promos in an official app for their store, providing customers a go-to source for real-time promotions and beyond.

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