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What issues does IoT face in the Retail sector?

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As per a survey done by Bitkom in 2018, the following top 5 issues were identified in the retail sector,

Improved processes,

capacity utilization is improved,

the production cost is reduced,

individual customer requirements are implemented fast, and

windows are maintained with better planning.

IoT has the capability of revolutionizing the retail business world with effective solutions and purposes but it is not so easy. The path of the retail sector faces one of the tough challenges in form of staffing. The need for skilled staff with knowledge in IoT is something lacking in the retail industries and shows that training is something very much required among the present staff member.

However, the reluctance and not accepting the change is something seen as a hurdle in the chains of shopping applications or retail stores. As per business ethics, the old employees cannot be replaced with skilled employees and somehow need to find a way of incorporating the technology among the employees showing reluctance.

If truly, we think, often the companies face trouble with the existing employees who are not so adamant to change or show hesitant towards such change? Mainly, in scenarios of senior employees, the problem of having them removed from the company is also a great risk and can be seen as a challenge to lose the experience rather than utilizing it in a meaningful way.

In the case of low-waged people, removing them from the job position often can lead to massive unemployment but with time it is feasible to provide them with needed skills. However, now the question arises with the companies or retail corporate players. Do they want to spend time on training the existing employees? Or hire the new skilled employee amid a competitive world? Ethics or the game of survival in the competitive world? Where do they stand?

Training of staff also attracts large investment and the implementation of IoT devices is no doubt a costly affair. The benefit of such an investment provides well-equipped staff with the smart retail sector.

The knowledgeable staff can also provide the right awareness among the consumer on how to utilize the IoT-enabled devices, products, or services for a smart home solution or their usage. With more utilization of IoT devices among the common mass of people, the awareness can be spread more among the people, attracting the right audience for the targeted market. Time is usually a constant battle in the field of competition.

Sources:- Challenges in the Area of IoT by Manish Kumar Saini, Akansha Aggarwal, and Sunita Saini.

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