The Internet of Things has changed the retail world significantly by making it easy to track consumer behavior, operating costs, and revenue all in real-time. Internet of Things refers to the network of devices that connect to the Internet and help companies monitor and control the environment and activity of their retail stores. Overall, Internet of Things (IoT) applications enhance the customer experience and help cater to individual consumers based on their buying habits and behaviors.
Tidel provides cash management systems that can easily integrate into a store’s IoT infrastructure. Once Tidel systems are integrated, an IoT environment can facilitate the connection of an entire store system, starting at the door when customers walk in. Monitors at the entrance of a store can track the number of customers entering and exiting a store, which helps stores determine their conversion rates as well as their overall foot traffic. Once in the store, customers can use mobile apps to augment their in-store experience. To deter theft, stores can tag items with digitally registered devices. When combined with a store security system, consisting of cameras and other theft deterrent devices, businesses can feel more secure and connected than ever before.
Fitting rooms are a common space where shoplifters will go to hide their stolen items before exiting the store. IoT software allows employees to effectively and safely manage the use of the fitting rooms in the store. As consumers complete their purchases, scanners can now deactivate the wireless security tags on items and compile purchase data.
Tidel smart safes are a great complement to a data-driven, IoT optimized retail environment, as they can generate the reporting needed to help facilitate a data-driven business. Integrating cash management into a business’ data reporting capabilities, Tidel’s IoT integration solutions allow the modern retail store to be IoT-integrated from customer entrance to exit.
To learn more about how Tidel systems fit into the retail IoT ecosystem, click on the IoT Retail infographic below!