A Consumer-Centric Paradigm Shift in Business Environment with the Evolution of the Internet of Things: A Literature Review

Sudesh Sheoran and Sanket Vij

Vision, 2023, vol. 27, issue 4, 431-442

Abstract: This study attempts to study the evolution of the Internet of Things (IoT) and its implications on the business environment in terms of understanding consumer behaviour and enhancing customer satisfaction through a literature review. A literature search is carried out focussing on the application of IoT for capturing consumer behaviour and enhancing customer experience and satisfaction. NVivo is used to identify the themes of the selected studies and cluster them based on the closeness of themes. It is found that the increasing quest for customer centricity and sustainability in an ever-changing technology environment have made businesses realize the potential benefits of IoT in terms of differentiation and competitive advantage. The perceived benefits influence IoT acceptance and customer satisfaction. However, the perceived risk associated with IoT in terms of privacy and security is a significant challenge for businesses. The future of IoT is based on how businesses are going to mitigate this challenge. While most of the studies suggest frameworks concerning IoT adoption and customer satisfaction in particular sectors or products, this study is unique in a way that it summarizes those studies and gives a brief view of IoT adoption to enhance customer satisfaction across different sectors, products and services.

Keywords: Customer Relationship Management; IoT Adoption; IoT Risk; Predictive Maintenance; Sustainability; User Behaviour (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/09722629211033944 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:vision:v:27:y:2023:i:4:p:431-442

DOI: 10.1177/09722629211033944

Access Statistics for this article

More articles in Vision
Bibliographic data for series maintained by SAGE Publications ().