An Investigation of IOT-Based Consumer Analytics to Assist Consumer Engagement Strategies in Evolving Markets

In order to establish sustainable operations, Internet innovation has been widely adopted in the retail sector; however, certain operational difficulties, such as security and confidentiality have been uncovered in practise. As a result, linked fields must do more thorough theoretical study. In order to compete with online merchants and promote sustainable growth, this study examines how traditional brick and mortar stores might use IoT technology. First, by taking into account the costs of customer inconvenience associated with shopping through various retail partners and the influence of Technology, pricing Plans were created for the store and the retailer of concrete blocks, respectively. Furthermore, by contrasting different scenarios, the benefits of internet to retail shops and consumer excess are analysed. After that, the basic models were expanded to take into account consumer - perceived sensitivity regarding IoT technology and price competitiveness in order to test the robustness of the analytical conclusions. Additionally, actual data-based numerical analyses are performed.