The global Internet of Things (IoT) retail market has taken off in recent years and shows no signs of slowing down. In 2021, the market size reached $41.15 billion. Market projections estimate that by 2027, it will reach $124.18 billion. Many factors contribute to this increase, including automation and the reduction of labor costs, as well as digital transformation and innovation. But with new technology comes new challenges—and often unanticipated network and application performance complications for businesses.
Innovation has changed the retail customer experience drastically, with ecommerce and brick and mortar transforming to reinvent the way the world shops. Interactive digital terminals, virtual and augmented reality tools, and robotic sales assistants have boosted both efficiency and customer satisfaction in stores by assisting customers.
In addition, retailers have adopted IoT technologies to improve existing processes. Radio-frequency identification (RFID) tracking is used to streamline warehouse inventory processes, allowing for reliable asset management. Once consumers venture to stores, cameras and sensors are used for foot tracking purposes, and Wi-Fi connections can detect return customers to target them with digital advertisement beyond their trip to the store. While these changes have advanced the retail experience for customers, they also may have increased network traffic and masked visibility for IT organizations, making operations and performance management more complex.
As reliance on technology increases, the repercussions of network and application downtime become increasingly detrimental. NETSCOUT’s nGenius Enterprise Performance Management solution provides deep packet inspection and real-time analysis to determine the true root cause of slowdowns and minimize negative impacts. Here are four benefits of NETSCOUT solutions for retail organizations looking to gain visibility and ensure peak performance of their network and applications in the digital era:
- Point-of-sale efficiency: Ensure a smooth checkout process and reliable credit card authorization both online and in-store at registers.
- Seamless mobile application experience: Avoid crashes and glitches and benefit from efficient processing speeds both in-store and remotely when using the retailer’s app.
- Improved inventory management: Reduce lag time when reporting inventory status and leveraging barcode technology in distribution centers and warehouses, regardless of where the application is hosted.
- Quality customer service calls: Avoid dropped and/or choppy call communication between customers and contact centers regardless of where the employee is located.
Learn more about how NETSCOUT solutions are helping retailers maintain peak performance as they innovate and transform in today’s digital era.