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How IoT-Enabled Smart Screens Are Changing the Face of Retail Media

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Imagine stepping into a grocery store five years ago. You’d grab a pint of ice cream and head home. It was a straightforward transaction with no involvement with smart screens.

Now, picture this – you see an Instagram ad for a subscription ice cream service. You ask Alexa to remind you to pick up ice cream after work. Additionally, your significant other requests a specific flavor, prompting you to take a different route home to pass the grocery store. Using Waze on your car’s display, you avoid traffic and enter the store while listening to music through wireless headphones. All of these touchpoints represent the growing presence of IoT experiences in our daily lives.

So, how can retailers tap into this IoT revolution?

Using IoT Technology to Enhance the Customer Experience

Cooler Screens, a company that addresses the lack of IoT connectedness in brick-and-mortar retail, has designed IoT-enabled smart screens to improve the in-store shopping experience.

These smart screens offer various functionalities, including displaying ads, nutrition labels, and real-time pricing and promotions. They provide customers with relevant information, making it easier for them to make informed decisions based on their preferences and budget.

Helpful Reminders Can Also Boost Sales

These screens can also promote bundled products, such as ice cream and toppings, benefiting both the retailer and the consumer.

IoT devices such as price-check scanners and smart payment technologies in retail stores also contribute to enhancing the overall customer experience.

Using IoT and AR to Support Supply Chains

IoT-enabled doors in grocery stores can provide real-time inventory data, which can be utilized to optimize supply chain management and decision-making processes.

The data collected by these IoT devices can be used to predict consumer behavior, reduce waste, and improve profit margins. This information sharing could lead to a more agile supply chain movement.

Small Retailers Benefit from IoT, Too

IoT technology isn’t limited to large retailers. Small businesses, such as farmer’s market vendors and boutique stores, can also leverage IoT devices to enhance customer experience and drive sales.

IoT Technology is Ubiquitous—and Will Only Grow

As IoT technology becomes increasingly prevalent in our daily lives, retailers can leverage it to create a seamless technology experience for customers. Cooler Screens’ pilot data showed that consumers preferred the smart screen shopping experience, leading to increased retail unit sales in smart screen-equipped stores.

In the future, IoT devices in retail could further improve the customer experience through voice-enabled features, touchless screens, and contactless payment options.

Featured Image Credit: Cooler Screens. Thank you!

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