The Use, Benefits and Challenges of using the Internet of Things (IoT) in retail businesses A Literature Review

This paper presents the use, benefits and challenges of using of the Internet of Things (IoT) in retail businesses. The paper aims to inform Chief Information Officers (CIOs), digital strategists or Head of Information Technology in retail of the use, benefits and challenges of using IoT. IoT is a new paradigm that uses different technologies to achieve various tasks. The use of IoT is growing among business and individuals and businesses that are not currently using IoT are set to invest in its use in the coming years. The use of IoT is increasing in the retail market, giving to the vast benefits that IoT offers. For businesses to fully use IoT they will need to change their business processes to realise its benefits. However, businesses to fully realise the benefits of IoT they need to overcome the challenges that it presents, this includes but not limited to security, privacy and network challenges. The Technology Organisation Environment (TOE) Framework was used to study the use, benefit and challenges of using IoT in retail businesses.