Published Paper Details:

Abstract: The global retail industry has undergone significant transformations in the last ten years, driven by advancements in automation and the increasing use of the internet and mobile devices, which have altered consumer shopping habits. Consequently, global retailers face intense pressure to adapt to these changes, leading many to embrace digital technologies aimed at enhancing customer service and cutting costs. This study aims to analyze the challenges and opportunities of implementing IoT in the retail sector. Based on literature review, the research concludes that the use of IoT in retail firms can result in increased revenue, enhanced operational efficiency, improved channel integration, optimized supply chain management, and an elevated customer shopping experience. The study provides guidance for retailers to utilize IoT applications and succeed in a changing consumer landscape. However, retailers must be cautious in considering the security and privacy implications of collecting and utilizing customer data generated by IoT devices. The future of retail will be shaped by the blending of physical and digital worlds. Using IoT (Internet of Things) is crucial for retailers, not just a passing trend. Although there are costs involved, the clear advantages include better supply chain management and improved customer experiences driven by IoT. Retailers who delay adopting IoT may miss out on these opportunities. Keywords: Internet of Things, Customer experience, Operational efficiency, Digital transformation in retail sector.