5 Ways The Internet Of Things Will Influence Commerce

IoT, a new way of using technology for commerce is a growing concept and there are five ways to use it right now. You can now track the fulfillment of your orders through an efficient system of managing your orders. You can automatically track and refill your durable goods as needed. Manufacturers of durable goods could connect with their customers through remote trouble shooting and maintain a profitable relationship with their customers for selling products that enhance what they bought. You can access more data collected about customer behaviors and trends to make your business more efficient. Finally, you can use your collected dat to make a more personalized experience with your clients.

Key Takeaways:

  • The “internet of things” (IoT) concept is in its nascent stage of development, but it is on the verge of exploding.
  • To put its development into context of another more recent phenomenon, this is the stage of development in which MySpace was attracting the earliest adopters in the then-burgeoning social media industry.
  • Simply stated, there are many more iterations of the IoT universe until this concept reaches public consciousness.

“Given that many durable goods products require continuous replenishment, notably detergents, fabric softeners or printer ink, there is an opportunity to automate the ordering process.”

http://www.forbes.com/sites/michelleevans1/2017/01/24/5-ways-the-internet-of-things-will-influence-commerce/