Retailers must invest in relevant technologies to benefit from "Industry 4.0"

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 23, 2019, 11:28 AM UTC

Interconnectivity of devices via the Internet of Things (IoT) amplifies shopping experiences by triggering specific content.

This article states that we are advancing into the fourth industrial revolution (Industry 4.0) with the advent of major technological innovations and integration of virtual and physical worlds. The author opines that these innovations can disrupt the retail landscape and drive digital change from “the factory to the shop floor”.

The principal categories of innovation are IoT, big data and analytics, robotics and automation, simulations, 3D printing and augmented reality. It will be essential for retailers to invest in retraining or hiring staff with data-led skillsets.

Retailers must start investing in Industry 4.0 soon, to be ahead of the curve. They should also identify the best technology for their retail propositions and collaborate with the right companies.

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[3 minute read]