IoT applications allow retailers to increase their productivity, improve customer experience, reduce costs and increase sales. With such enormous benefits, IoT is gaining immense popularity among retailers worldwide. Global IoT’s market size in the retail sector is forecasted to rise from 14.5 billion USD in 2020 and reach 35.5 billion USD by 2025 at a CAGR of 19.6%. The retail industry can utilize IoT technology in many ways. It helps retailers to improve store operations, track energy utilization, manage in-store navigation, manage product shelves, prevent theft and monitor goods.