Digital Innovators: New Conduits of Commerce in the Internet of Things Era

March 2017

Digital commerce is no longer restricted to computers, tablets or even mobile phones. There are now a plethora of things, including connected cars, consumer appliances, smart clothing, smartwatches and other fashion accessories all with the potential to disrupt commerce. This report explores 10 new conduits of commerce being ushered in by the internet of things (IoT) era.

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The internet of things (IoT) is the internet’s third wave of development

The first wave was driven by the arrival of computers into the home, thus ushering in home connectivity. The second wave was characterised by the arrival of the smartphone. More recent breakthroughs in the cost of sensors, processing power and greater bandwidth with which to connect more internet-enabled things are creating ubiquitous connections.

The IoT concept is in its nascent stage of development

To put its development into context of another more recent phenomenon such as social media, this is the stage of development in which MySpace was attracting the earliest adopters in this burgeoning landscape.

Exponentially more connections inspire new forms of digital commerce

In time, the idea of a smartphone as a commerce device could be old news as commerce moves beyond simply portable consumer devices to include durable goods, such as refrigerators, washing machines or automobiles.

Introduction

Scope
Key findings
Digital Innovators series assists with discovery and idea generation

Internet of Things: Moving Beyond Mobile

Defining the “internet of things” (IoT) ecosystem and its components
Initial opportunities created by the IoT ecosystem
Four ways the internet of things will influence digital commerce
Embedded sensors expose consumers to new paths to purchase
Connected rings: From customer notifications to payment execution
Connected fridge freezers promise to ease grocery shopping
Alexa becoming one of the most prominent voices in commerce
Haier and Ford are two early participants in Alexa’s ecosystem
Latest automobile models enable drivers to shop at the wheel
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