Discover how RFID is changing retail for good. This eBook will guide you through the top 10 needs identified by retailers to ensure sustainable success in the modern environment. Explore the common challenges preventing retailers from achieving their goals and learn how applying smart RFID-based solutions delivers consistently good results.
Solving Retail’s Top 10 Needs with RFID
Discover how retail RFID is changing the industry for good. This eBook will guide you through the top 10 needs identified by retailers to ensure sustainable success in the modern environment. Explore the common challenges preventing retailers from achieving their goals and learn how applying smart RFID-based solutions delivers consistently good results.
What is in the eBook?
The retail industry is currently ruled by change. The digital age has seen a huge growth in competition from e-commerce and a rapid shift in consumer preferences. This shift has altered the industry greatly with modern ‘omnichannel’ customers demanding to shop where they want, how they want and when they want. Delivering such an experience is a challenge, one that requires brick-and-mortar retailers to change.
To compete in an increasingly digital environment, brands need the right supporting technology to establish full transparency between their shopping channels and offer consistently excellent service online and in-store. On top of this, the extreme competition within the industry and the subsequent pressure on retailer’s bottom lines means finding ways to reduce or shift costs and eliminate inefficiencies at scale is a priority – again, technology may provide the answers here.
Retailers then are faced with the challenge of providing a better experience to customers while scaling back and consolidating in order to stay financially viable, how do you achieve both at once without overstretching resources and risking multiple technology projects? Obviously, a focus on the specific problems that need solving is key but with the scale of these challenges, you need a transformation that affects the core of the business and isn’t putting lipstick on a pig.
In this regard, Radio Frequency Identification (RFID) is somewhat unique in the retail technology market, due to the sheer versatility of the technology and its ability to solve so many of retail’s most common needs. It is this scope of use cases that have seen RFID become increasingly prominent in the retail environment. Whilst the basic principle of RFID, tagging inventory with its own unique radio signal, is deceptively simple, its uses and applications are incredibly broad.
In this eBook, we analyse the top 10 needs identified by retailers to ensure sustainable success in the modern environment. Within each of these needs, we identify the challenges often preventing retailers from achieving them, and how applying smart RFID-based solutions can deliver consistently good results.
Improving key metrics in stores
The ebook will teach you how RFID revolutionises daily processes like stocktakes and replenishment in stores. Learn how retailers are using the technology to deliver higher inventory accuracy in-stores (increasing from ~70 to 99%) and to ensure the right product is always available for customers to buy on the shop floor (known as increasing product availability). The eBook will also show you how retailers can achieve these results whilst actually lowering the labour intensity (and costs) of operational store processes like cycle counts and processing inbound shipments.
- How retailers use RFID for quick and efficient stocktakes and cycle counts
- Improving stock accuracy in stores
- How smart solutions are being put to use for item-level replenishment, ensuring products and sizes are always available to be sold.
Delivering to customers with retail RFID
Find out how retailers use RFID to reliably deliver to their customers by removing common friction points as well as offering new services and shopping experiences. Common pain points eliminated by RFID include: customers being unable to find the right product, staff not being available to help with requests and service due to lack of time for the customer, or unreliable stock information. On the other end of the spectrum, advanced RFID retailers can wow customers with new shopping experiences both in-store and online.
- How stores can reduce common customer friction points
- The relationship between RFID and effective omnichannel services
- The advanced retail RFID solutions that improve the in-store customer experience like chatbots and smart fitting rooms.
Optimising supply chains from source to store with automated processes
Learn how advanced RFID retailers have moved upstream to cover their entire supply chains, from stores to warehouses, distribution centres and even factories. The eBook covers how RFID is used to achieve complete supply chain visibility and what additional value this unlocks for retailers due to the advanced item-level data and analytics available.
- How to achieve supply chain visibility with real-time info on the movement of products inside and across individual stores and distribution stages.
- How RFID is used to aid logistics at distribution centres, including automated processes like exception handling and order picking.
- What RFID means for retailer’s data and analytics capabilities, such as advanced supply chain traceability and new KPIs for stores and DC’s.
Protecting brands and products from theft, counterfeits and the grey market.
Finally, gain insight on how retailers deploy RFID solutions to protect their products, and their entire brand, from illicit activity including theft, counterfeit products and the grey/gray market. The eBook explains how retailers can use the technology to identify individual products and trace them across the supply chain, allowing them to identify where problems are occurring, and stop them at the source.
- How RFID can be used to monitor and reduce shrinkage, including theft, both in stores and across the entire supply chain.
- How brands are combatting counterfeit goods by tagging and tracing their products with RFID.
- What the Grey Market means for retail and how several major brands use RFID traceability to locate and stop the source of grey market products.