Location of things in retail can be defined as an interconnected system of devices and sensors that retailers use to streamline business through identifying the location of inventory, assets, and even human resources. Thus, location-based solutions are becoming necessary for retailers to understand customer requirements and their purchasing behavior, for improving business strategies and operations to provide a better customer experience.

Standalone Stores- It is a brick and motor model, which adopts the location-based technology. By linking location-based technology with retail and consumer goods, retailers can find ways to maximize product distribution and come up with cross-sell and up-sell opportunities and also reduce costs of selling new products and improve customer relationships. Location of things in retail helps in customer management, in-store promotion, yield management, marketing management, understanding customer behavior, merchandising & planning, and fraud detection.

E-stores - E-stores entail buying or selling of goods over a network. E-stores are growing at a rapid rate and are stimulated by various drivers, such as, the continuous rise in location-based consumer data, the growth of E-Commerce, and increasing users of social media. The growth can also increase shortly, due to numerous opportunities, such as increasing adoption of IoT in retail, diversity in retail subsegments, growing need to mitigate shrink (risk and fraud mainly), and providing insights on customers’ buying behavior.