No cash, no cards – no tills? If you took this news to the middle ages, they’d have burned you at the stake. But here in the outrageous present tense, all is normal (well, kind of).
It’s interesting isn’t it, how a single industry, like retail, can be simultaneously faced with two completely opposing challenges? On one side of the spectrum, the typical grocers are having to tackle rapid spikes in bulk buying alongside big-spending seasons, which results in supply chain and stock issues.
One of the biggest economic consequences of the coronavirus pandemic is the exceptionally high increase in unemployment, which due to a combination of business closures and cutbacks, is set to rise to 2.6 million by mid-2021.
The global pandemic has reshaped our nation by fast-forwarding digital transformation.
Put yourself in the shoes of a customer; you go to a reliable store for a product that you really want, but it isn’t there! Immediate reaction? Go elsewhere.
IoT has already proven itself extremely beneficial in the retail sector across multiple applications from delivering efficiency in energy consumption to monitoring stock levels in real-time.
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