The Benefits Of RFID Technology In Retail
In an age where technology is seamlessly integrated into our daily lives, the implementation of RFID labeling in the retail sector is revolutionizing inventory management, enhancing consumer experiences, and opening up new channels for brand engagement. RFID use is nearly ubiquitous among retailers. According to Accenture, 93% of North American retailers use RFID in some capacity, and those that have fully adopted RFID reported some 10% ROI in 2021 compared to 9.2% two years prior.
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Top 4 Benefits Of RFID Technology in Retail:
1. Inventory Control
Better inventory control enhances the customer experience. RFID improves inventory accuracy and enables omnichannel fulfillment. When customers buy something online for in-store pickup, they want to know what’s in stock and where they can get it. The technology allows customers to reserve in-store, buy items online or with mobile apps, have merchandise shipped directly or pick up in store.
2. Smart Shelving
RFID has applications in retail beyond inventory management. This technology is transforming retail by reducing theft and improving the customer experience. RFID technology allows retailers to see their inventory in real-time without requiring a direct line of sight to read multiple tags.
3. Shorter Checkout Wait Times
RFID technology can scan areas in seconds and save retail customers time. When product locations can be pinpointed, businesses can easily direct customers to the items they need. This means it can speed up checkout lines and help create a zero-friction approach at the point of sale.
4. Improved Customer Experience
In addition to reducing stockouts and overstocks and enabling omnichannel selling, RFID improves the customer experience by helping retail systems understand customer preferences, behaviors, and purchasing patterns. This allows for more personalized shopping and efficient operations. Improving retail operations and better customer experience means more customer loyalty and lower customer acquisition costs.
Watch How DTG Mobilizes Your Workforce: RFID
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The Time To Explore RFID Is Now
If your store hasn’t yet explored RFID’s benefits, the time to do so is now. Your competitors are likely already putting this technology to work. In fact, according to the Accenture report, 82% of retailers agree that RFID is essential for implementing emerging technologies. Don’t be left behind.Learn more with DTG’s RFID PowerStation Brochure - The Ultimate RFID Supply Chain Solution
