Discuss the various technologies used by retailers to deliver value to their customers.

The varios technologies used by retailer are -

1. Internet of Things
Internet of Things is a network of literally billions of physical devices communicating with each other and sharing data. IoT has massive potential for the retail industry, providing a way to create even more engaging and innovative shopping experiences — one of the reasons why Juniper Research predicted retail spending on IoT technologies would reach $2.5 billion by 2020.

In fact, IoT is already being put to good use in many areas. One of these applications is beacons — small wireless devices powered by Bluetooth Low Energy that transmit a continuous signal. Smartphones are able to pick up on the signal, which they pass into a cloud server. The cloud server can then push out targeted content to a specific smartphone. Microlocation can even drill down to particular aisles within a single store. The potential for data gathering is simply immense, allowing more granular customer segmentation and personalization than ever before.

US retailer Macy's uses these beacons. When a customer opens the Macy's app in-store, the app registers their exact location. Say, for example, the customer is in the beauty products section. The app can remind the customer of particular beauty brands or products they have previously liked online and help move the customer towards purchasing them in-store, perhaps through a tailored offer.

Another practical application of this technology comes in the form of RFID tags. These smart barcodes give you total visibility for products all the way through the purchasing process. Athletic apparel supplier Lululemon uses RFID tags to update and keep track of inventory levels in stores all over the world, improving inventory accuracy to 98 percent.

2. Facial recognition
Identifying customers at the point of sale — by using loyalty cards, for example – is no longer good enough for retailers. They want to know who the people in-store are before they buy so they can deliver a personalized shopping experience. Yet, most stores don't have the luxury of recognizing every single face that comes through the door.

This is where facial recognition software can step into the breach, scanning thousands of reference points across a person's face to identify their unique 'face-print' (much like we all have our own unique fingerprints).

Identifying customers this way gives your staff visibility into the types of products customers might purchase, and how much they are likely to spend — so they can roll _______ ________ ______ ______ _______ _____.
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