Retailers Prepared For IoE Likely To Benefit From Much Wider Connectivity, Cisco Says

Internet of Everything will bring $14.4 trillion in overall value for the private sector and another $4.6 trillion for the public sector over the next 10 years, with the retail industry accounting for 11 percent of the total IoE value in the private sector, according to technology company Cisco. Fast moving and representing an explosion in digital connectivity, from 10 billion things currently connected to the Internet to 50 billion in 2020, IoE is forecast to have some tremendous impact on the retail market, including on customer experience, innovation, employee productivity, supply chain, and asset utilization. Retailers ready to adopt IoE-related technologies are likely to realize various benefits, including the use of interactive displays that help shoppers study and purchase products, ability to customize marketing and advertising based on customer preferences and conditions, and video collaboration tools that can promote interaction between experts and customers.