Because of the COVID-19 pandemic, market dynamics in the retail industry are rapidly changing from in-store shopping to e-commerce. Online shopping has become a new norm, which requires retailers and brands to make efforts so as to keep up with consumer expectations.
What makes e-commerce less desirable is that, unlike shopping in-store, many people are not able to see, touch, and try things in person. According to a research by Barclaycard, clothing and shoes are the most frequently returned items, with flexible online return policies available. However, 57% of the retailers in the research claim that returns have a negative impact on their business.
It is worth noting that an increasing amount of returns inevitably results in a large number of waste, including but not limit to non-degradable plastics used for packaging, as well as the products that are returned ending up in landfill. The returns create a huge carbon footprint, which is both economically and environmentally flawed.
When the E-Commerce Industry Meet with IoT Technology
The arrival of IoT, thankfully, is subtly changing every aspect of people's lives, including the e-commerce industry, which allows people to order products online with confidence. For example, for apparels, an investment in smart dressing mirrors can help companies stop the flow of returns. Consumers can virtually try on clothes and preview how they will fit and look by using the smart dressing mirrors.
Moreover, combined with voice support, shoppers can ask the smart dressing mirrors to take selfies, provide shopping tips, as well as order the items they wanted. This smart assistant with conversational voice support make ordering and interacting with customers more convenient.
AR/VR can also help shoppers see how items like furniture would look in their own spaces. They are of great help for business in this age of social distancing. AR/VR allows customers to interact with things in a same way as they would in a physical store, and the increase of engagement would ultimately lead to an increase of sale.
Technologies using facial recognition and body scanning, however, have cause concerns when it comes to privacy and security. It is important to address the concerns, by acknowledging that any technology is not inherently bad, but the actors and how people choose to use it. When technology companies collect user data, they must take responsibility for protecting their users. Industries should develop best privacy practices that match their customers’ expectations as well.
Fibocom Wireless Solutions
Business owners in the e-commerce industry are using IoT technology to transform customer experience, maximize profits, boost growth, and enhance overall performance. Most of these above innovations require high-speed, stable wireless connection and high-computing capability, which can be achieved by Fibocom 5G wireless modules.
For instance, embedded in the cameras on the smart dressing mirrors, Fibocom 5G modules help to collect the body data and upload it to the cloud where massive clothes are stored. Upon analysis by the system, the best choice instantly matched for the users will be sent for display. With AR/VR on the rise, Fibocom 5G wireless modules can also be built into AR/VR devices, empowering AR/VR shopping with the combination of cloud and 5G connectivity. It is worth mentioning that at Fibocom, we value data security and put strong privacy controls in place.
Fibocom’s 5G wireless communication modules are designed to offer eMBB (enhanced Mobile Broadband), URLLC (Ultra Reliable and Low Latency Communications), as well as mMTC (massive Machine Type Communications). Supporting 5G standalone network (SA) and non-standalone (NSA) network architectures, Fibocom 5G wireless module series supports the Sub-6GHz and mmwave bands, and is compatible with 5G NR, LTE and WCDMA standards. It eliminates customers' investment concerns at the initial stage of 5G construction, responding to the commercial demand for rapid landing. Meanwhile, Fibocom 5G modules come with a rich set of interfaces including USB3.1 (3.0), USB2.0, PCIe3.0 (2.0), SPI, SDIO, GPIO, UART, etc. It has been certified by various regional operators, industry associations and local regulation, satisfying different deployment requirements for customers worldwide.