The Latest RFID Trends In Retail
RFID technology isn’t exactly a newcomer to the retail industry, but it is noting a sharp uptick in use as omnichannel retailing hits its stride. Bigger retail chains in particular are drawn to its accuracy and its tremendous inventory tracking capabilities when paired with advanced software solutions.
RFID Journal’s editor and founder, Mark Roberti, recently discussed the latest trends in this market with WWD. He identified two main drivers of this increased adoption.
First of all, he pointed to the number of well-known global retailers using it as being a huge part of its popularity. When names like Macy’s, Marks & Spencer and American Apparel get on board, it’s clear the technology is worthwhile. Not only can it take inventory accurately and quickly, but it can also enable cycle counts to be carried out more regularly without incurring extra labor costs. In fact, these frequent cycle counts can cause in-store inventory accuracy to climb from 65 percent to more than 95 percent. The bottom line also benefits when customers are able to find exactly what they wanted and can be sold for full price.
RFID Adoption Continues To Build Momentum
Roberti also feels that when one retailer adopts it, its competitors realize they, too, need to get on board to stay in the game. As long as the economy does not take a turn for the worse, he feels that this momentum in adoption will only grow until it reaches a tipping point and explodes.
When asked how retailers can best implement RFID, he suggested they develop a strategy that is based on their specific goals, whether it’s becoming an omnichannel retailer that offers same-day delivery via stores or boosting the customer experience. RFID has many different applications, and it’s one technology that is clearly here to stay.