Consumers 'Increasingly Ready' For Smart Shopping Using the Internet of Things
What is ‘programmatic commerce’?
The concept of programmatic commerce involves businesses and consumers allowing purchasing decisions to be made for them automatically via different connected devices and the IoT. For example, a coffee machine may detect that its supplies are running low and consequently send an order to a supplier for more, all without any human input.
Such automated technology stands to greatly improve Supply Chain Management by reducing the risk of human error and providing quick, concise orders for suppliers to fulfill.
Advantages and disadvantages already becoming clear
When respondents to the aforementioned survey were asked what they would like to order using smart shopping, 54% cited food and drink, while the same proportion stated household supplies. 37% of people surveyed believed that utilising smart shopping would save them time, while the same percentage of people felt that it would save them money. 25% of people added convenience to the list of advantages.
However, the opinions expressed on smart shopping in the survey were not universally positive. 54% cited a lack of control over purchases as a cause for concern, while security was mentioned by 51%.
Meanwhile, half of those surveyed said that cost was an important consideration to them as the new era of smart shopping loomed, compared to the 25% that prioritised brand.
An exciting future for programmatic commerce
Neil Stewart, Salmon CEO, commented: “While we expected consumers to already appreciate the benefits of digital, we have been pleasantly surprised by how ready they are for automated shopping. Our research paints a picture of a sophisticated and engaged consumer, ready to take advantage of the impact of smart technology in their digital shopping.”
Here at Bis Henderson Consulting, it certainly interests us to contemplate the predicted rise in automated ordering through connected devices in the home, and what this may mean for the volume of home shopping orders, the number of SKUs per order and order values.
The future of programmatic commerce looks bright, particularly given the potential that it has to improve the flow of supply chain management and negate manual resupply orders completely to the benefit of both the retail sector and household consumers.
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