Data Convergence; The Role of Machine Learning in Retail - Retail TouchPoints

Customers are more tech savvy than ever. Armed with smartphones, they have the entire Internet at their fingertips, which can be either a hazard or an opportunity for retailers. The last thing a brick-and-mortar store wants is to lose a sale because a customer scans a barcode and finds the item cheaper elsewhere. To combat this, retailers are using computing on the edge and Internet of Things (IoT)-connected devices to turn potential showrooming into sales. When a customer scans a pack of printer ink, connecting through the store's WiFi, the retailer can use this as an opportunity to serve a coupon or make personalized recommendations for complementary products such as printer paper or a computer mouse, upselling and cross-selling additional items.