Business Outcomes Driven By IoT Data / Retail Industry / Digital Transformation / Mnubo

Smart equipment data, when integrated
with advanced IoT analytics solutions, is transforming the retail space; enabling
companies to create new business models, drive revenue growth, achieve operational
efficiencies, and increase customer engagement. A connected commercial fridge
tracks the inventory and internal temperature to ensure optimal conditions.
Equipped with sensors, it measures temperature, humidity, number of products
per shelf, compressor information, and GPS location. The data generated by these
sensors empowers manufacturers with many IoT-driven use cases: reduce the number
of fridges disappearing without permission, anticipate diagnostic issues
and reduce downtime, forecast sales with usage and consumption data, and use data
from multiple sources to deliver a personalized experience. Fridges are
strategically placed to maximize exposure and drive sales. But once
installed, there is no system in place to track their whereabouts if moved. SmartObjects tracks the assets’ status and location, allowing the manufacturer to
flag assets with impending faults, as well as identify missing or misplaced
assets. This map highlights distribution of registered fridges, this one
highlights the distribution of fridges sending events. The table allows us to
identify the fridges that are sending events from a location that is different
from where it was registered, leading to operational efficiencies and reduced
number of lost or stolen assets. Commercial fridges typically follow a
calendar-based maintenance schedule, however fridges with unanticipated
issues risk contaminating products and/or providing a bad customer
experience. SmartObjects leverages real-time and historical data to predict
when assets will require maintenance, moving from calendar base to predictive
maintenance. The service dashboard considers multiple factors and sorts
stores by asset health score, leading to operational efficiencies and a reduction
in downtime. Typically, beer is sold to retailers on a
calendar basis or as a reaction to a purchase order, but not based on
consumption. In addition to consumption there are multiple factors that
influence sales: holidays, sports events, weather… By failing to consider these,
stores risk running out of beer. SmartObjects considers multiple factors to
proactively forecast sales for the next period. The marketing dashboard sorts
stores by predictive replenishment, flagging the stores that will run out of
beer in the next two days. This leads to increase profitability for the beer
company and the store, as well as an optimized supply chain. Throughout the
customer journey, there are many touch points to influence
the purchase decision. 70% of consumers choose their beer at time of purchase.
However, point of purchase remains a challenging conversion point.
Mnubo scores users based on consumption and engagement. The marketing dashboard
filters users with engagement scores between 0.6 and 1. The brand can then
suggest personalized coupons and discounts when consumers are in front of
the fridge. This leads to new revenue growth opportunities, as well as sales
opportunities. IoT data has the potential to create new revenue streams. For
example, dynamic pricing. Research demonstrates that sales are higher when
a product is placed on the middle shelf compared to the top or bottom, but it is
challenging to measure shelf value when relying strictly on sales data and
failing to consider location and the fact that no two stores are identical.
Dynamic pricing models enable the brand to charge for shelf space depending on
location and aisle. Asset management, predictive maintenance, proactive
replenishment and personalized marketing are transforming the retail space from
product to customer centric. Mnubo SmartObject solution empowers brands with
real-time visibility over the connected install base.

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