We try hard not to “do ” buzz here at RSR. You’ll rarely hear us try to coin a phrase or acronym, either.

But we have a deep-rooted interest in burgeoning technologies, and sometimes that means we have to look at a new set of technologies not only for their established use, but for what opportunity they hold for our industry in the future. And Internet of Things technologies are one such group.

Consider what our respondents in our recent IoT Survey told us: regardless of how big they are, where they are located or what they sell – and despite all the buzz – retailers hold out tremendous hope for the ways IoT technologies will one day shape their businesses.

But as we were launching this research, we had some going-in suspicions. And they were supported quickly: while retailers place tremendous faith in the future value of the Internet of Things, that does not necessarily translate into investment today.

Figure: Value? Yes. Spend? No

Source: RSR Research, October 2016

And while the majority of retailers are in wait-and-see mode, one trend that emerged in our inaugural IoT report remains strong. Consider what we wrote in last year’s report:

Even as we are admittedly in the very early days of IoT in retail, Winners systemically expect to reap greater benefit than their average and underperforming peers. Are they overly optimistic? It is too early to tell, but one thing is clear… they believe IoT technologies are going to be a game changer to their day-to-day operations.

As evidenced below not only do Winners continue to believe that IoT will be a game changer, but they have spent the last 12 months backing that up with some level of investment – particularly as it relates to security sensors, inventory tracking sensors, and video analytics – at a pace quicker than their peers. Granted: these are not all-out, groundbreaking implementations: but they do represent change, and Winners report they are happy with the results so far. Baby steps? Yes. But steps required for full stride in the future.

Figure: Baby Steps… But Steps Nonetheless

Source: RSR Research, October 2016

We invite you to read the full report, The Internet Of Things: Getting Beyond The Hype, which is available to everyone here.