Anticipating the winds of change, major retailers are expected to increase their investment in internet of things (IoT) technology fourfold to US$2.5bn by 2020.
In the commercial space, IoT in retail is one of the clearest examples where connected network technology could have a significant impact on customer interaction in stores.
In particular, retailers have already begun investing in IoT hardware, including Bluetooth beacons and radio frequency ID (RFID) tags that allow them to send information to them in-store and keep a tab on stock and price levels, respectively.
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