IoT on the Rise, Google Everywhere, HBC Strong

Strength begets more strength in this week’s retail news story roundup. Internet of things devices have strong growth potential, Google hits the “holy grail of advertising,” and HBC flexes its muscle against Sears.

Number IoT devices in retail rise as prices fall.

The number of internet enabled devices helping stores are expected to jump 350% to 12.5 billion devices in the next for years according to the report “IoT in Retail: Strategies for Customer Experience, Engagement & Optimisation 2017 – 2021” by Juniper Research. Retailers are using these devices to 1) improve customer experience, 2) understand the customer, and 3) improve the supply chain.

Source: Internet of Things Platforms in Retail to Triple by 2021 thanks to RFID by Eef de Ferrante on LinkedIn

Map of internet of things devises plugged into a cloud

Google knows when online ads influence offline purchases.

Google has closed the “holy grail of advertising” saying that they will be able to determine how many brick and mortar purchases we a result of advertisements on their network. Google is combining their already sizeable data set from AdWord, Chrome, Android, Youtube, etc. with a data set that includes 70% of debit and credit card transactions in the US. A third party company is required to do the analysis. Privacy advocates are not happy, but Google hopes retailers and CPG companies will be and spend less on television and more digitally.

Source: Google now knows when its users go to the store and buy stuff by Washington Post

Google campus with colourful umbrellas

HBC Stands Strong

Hudson’s Bay Company flexes it’s muscle with strong same-store sales, lots of cash from a strong IPO, and international acquisitions when all other department stores are struggling. It appears as if HBC is directly targeting it’s down and out rival Sears, by matching prices on department store staple items such as shirts and winter jackets.

Source: MINISO Launches Aggressive 500 Store Canadian Expansion by Retail Insider 

Hudson's Bay Company retail window in downtown Toronto

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