How Machine-Aided Commerce Ushered in by the IoT Era Will Impact Retailers

Commerce is in the midst of a head-to-toe makeover

Evolving consumer expectations and new competitive realities have changed how and where consumers want to browse and buy both goods and services.

Technology is critical for retailers that wish to stay relevant

In particular, the Internet of Things is expected to be the most impactful technological advancement for businesses over the next five years, according to a recent survey of industry professionals.

Internet of Things is expected to lead to more purchase automation

In the long term, industry professionals see IoT as having the greatest impact on the final purchase decision as a result of more commerce automation.

In the future, more commerce decisions will be aided by machines

Consumption is on the cusp of transitioning from mass customisation to becoming more predictive in nature. This will forever change the way in which consumers purchase some types of products and services.