Abstract

IoT technology has revolutionized retail, giving rise to Smart Retailing Management Systems (SRMS). This review explores IoT-based SRMS focusing on smart carts, investigating enhancements in shopping experiences like RFID tags, dynamic inventory management, and personalization. By comparing research and products, it evaluates SRMS in technology, cost, reliability, security, power use, and components. The goal is to unveil SRMS’s strengths and weaknesses, aiding retail progress.

Objective: This patent study aimed to review IoT-based Smart Retailing Management Systems (SRMS) centered on smart carts, explore IoT's role in enhancing shopping, spotlighting RFID tags, dynamic inventory, and personalization, and evaluate SRMS via tech, cost, reliability, security, power, and components, unveiling diverse strengths and weaknesses.

Method: A literature search in previous works and patents was conducted. The findings to pinpoint trends, tech shifts, and research gaps were analyzed. The real-world studies were synthesized to discuss IoT-based SRMS progress and an inclusive view of various approaches and outcomes was offered.

Conclusion: IoT-based SRMS, especially in smart retail carts, elevate shopping via RFID tags, dynamic inventory, and personalization. The comparative analysis exposes SRMS potential and constraints, offering insights for informed retail decisions and advancement.

Keywords: SRMS (Smart Retailing Management Systems), IoT (Internet of Things), RFID (Radio Frequency Identification), securities, smart cart, dynamic inventory management.