M2M has the power to reinvent the retail business. As retailers
continue to innovate and provide a totally new and convenient shopping
experience for customers, M2M technology helps the industry with
real-time inventory tracking, fixed asset monitoring during
production, fleet tracking during delivery, and real-time surveillance
for security, among others. From production and marketing to customer
insighting and the supply chain, M2M revolutionizes the shopping experience.
Here are three key examples on how M2M technology is having a
profound impact on the retail sector:
The Shopping Experience. Through EPOS/PDQ terminals and
tablets, shoppers no longer need to wait in line to pay. Customer
service staff have access to customer data that is readily
available, enhancing their ability to answer queries. Also,
customers can complete the purchase there and then via the
terminal. Businesses get the opportunity to boost sales by
providing convenient payment avenues, while customers can avoid
the queue—a nuisance for those used to the convenience of online
Tracking and Predicting Consumer Behavior. In the past,
people mostly shopped physically and knew their retailers, and
they knew them. The retailer recognized what people liked, how
they liked it, and could use that information to recommend new
products or new combinations of brands. That was business
analytics based on data, though all just in the retailer’s head.
Now, with M2M technology, new kinds of data can be collected in
real-time, stored in a computer, and accessed with ease. Thus,
sharing all kinds of data-sets, retailers have the chance to get
to know their customers intimately, locally or internationally,
all at the same time.
Logistics: The Supply Chain and Delivering the Goods. M2M
solutions can be used to monitor the condition and location of
goods during shipping, from manufacturers to distributor and onto
retail outlets. Wireless, battery-powered M2M tracking devices can
monitor conditions in transit, ensuring product safety regulations
(especially perishable goods) are complied with, maintaining great
product quality, and reducing wastage. These devices can also
monitor where shipments and assets are—from entire containers to
individual products and pieces of equipment—to minimize the costs
associated with delays and shrinkage.
Opportunities to increase revenue, reduce costs and better serve
customers using M2M are achievable, provided that the business
undertakes strategy development, planning and deployment thoughtfully
with an eye towards growth.
Clearly, shopping is not going out of fashion. In fact, we are
shopping more than ever before, with the multitude of channels
available these days. However, consumers have changed, and the
technology within the retail industry has changed, too. So always be
on your toes and be on the lookout for technology—whether it has been
there for years or just in its early stages—that can have real impact
on your specific industries.
Jan Holler. (2014). Retrieved from https://www.scribd.com/doc/282573011/From-Machine-to-Machine-to-the-Internet-of-Things-Introduction-to-a-New-Age-of-Intelligence
Machine-to-Machine (M2M) Connections Market by Technology (Wired,
Wireless), Industry (Healthcare, Utilities, Retail, Consumer
Electronics, Automotive & Transportation, Security &
Surveillance, Others), and by Geography - Forecast to 2020). (2017,
October). Retrieved from http://www.marketsandmarkets.com/Market-Reports/machine-to-machine-market-732.html
What is the difference between the "Internet of Things"
(IoT) and "Machine to Machine" (M2M)? (2015, 11 January).
Retrieved from https://www.quora.com/What-is-the-difference-between-the-Internet-of-Things-IoT-and-Machine-to-Machine-M2M