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Can Every Consumer-Facing Company Be an IoT Company? 5 Lessons from Retail

When you think about the companies that provide Internet of Things (IoT) products and services, utilities and healthcare providers may not be the first to jump to mind. But if not them, who? These types of companies, along with telecom service providers, multinational corporations and others, are uniquely suited to carry the IoT mantle—and there’s a lot they can learn from retailers who have already forged successful paths in this market. Sprosty Partner Rick Rommel recently shared his viewpoints with Retail Touchpoints on how companies need to not only “think like a retailer” when it comes to finding success in IoT but also have the chops to do everything it takes to compete successfully.  Read more of Rick’s thoughts in the complete article.

Post By Rick Rommel (9 Posts)

Product Development, Private Label, Merchant, Emerging Business, Consumer Electronics, Rocket Scientist (really!)

Rick serves as a Distinguished Visiting Scholar at Stanford University’s mediaX, and is a respected and entrepreneurial industry leader who has built innovative businesses in the consumer electronics, retail, and aerospace industries.

Most recently, Rick created Best Buy’s Global Private Label CE, the company’s most profitable internal start-up business. Prior to that, Rick helped lead Best Buy’s New Business Consumer Solution Group to create, incubate, and accelerate new global business opportunities.

Prior to that, Rick’s career spanned management roles in a $4B retail business; a $10M start-up; and consumer product development for Best Buy and Kodak. He has served in General Management, Product Development, Sales, IT, Business Development, Marketing and Operations roles, and began his career launching satellites at Hughes.