Internet of Things (IOT) Applications in The Retail Sector: A Focus On The FMCG Industry

Abstract

This research explores the applications of the Internet of Things (IoT) in the retail sector, specifically focusing on the Fast-Moving Consumer Goods (FMCG) industry in North Republic of Macedonia. In today's competitive market, FMCG companies recognize the importance of consumer engagement and personalized marketing. The adoption of IoT in this sector shows great potential, but also presents challenges that businesses must address, such as operational costs and data security. The study was conducted in May and June 2023, using a methodology that involved administering a questionnaire to 100 FMCG companies in North Macedonia. The research aimed to investigate extent to which companies in the Fast-Moving Consumer Goods (FMCG) sector in North Republic of Macedonia are implementing Internet of Things (IoT) applications. The findings indicate that there is a promising level of awareness and adoption of IoT technologies among the surveyed respondents in the FMCG retail sector. It is evident that the industry is actively embracing technological advancements, with responders recognizing the value of integrating IoT into their operations.