3 Ways RFID Readers Revolutionize Retail

Now more than ever, retailers are continually searching for ways to keep pace with the demanding and ever-evolving challenges that comes with today’s market and supply chain. In that, of course, it is clear to see that the push for digitization and automation throughout these sectors results in equally digitized and automated solutions to keep up. Of those solutions, to be specific, radio frequency identification (RFID) technology has proven to be exceptionally beneficial to retailers from all over. In fact, there are three benefits that come from this technology that stand out amongst the rest, including: 

  • Improved Inventory Visibility – With the accuracy and seamlessness of RFID-based stock counts, businesses utilizing this technology can dependably obtain complete item-level visibility throughout their supply chains and stores. Additionally, because of the speed of RFID inventory counts, this level of visibility can be obtained while also diminishing the level of labor intensity throughout operational procedures. The real-time, accurate inventory information provided by RFID inventory counts is a pivotal factor in RFID’s beneficial effectiveness for retailers. By having an up-to-date and full view of stock across all points, you can allow your inventory to open up the inventory of your entire store and its network to customers—delivering an improved experience for customers and increasing sales. 
  • Increased Product Availability – As we know, assuring you have an elevated product availability is crucial for supporting retail sales. At the same time, inadequate on-floor availability and out-of-stocks are a surprisingly frequent issue in the world of retail, fostering needless lost sales as a result of ineffective stock accuracy and replenishment procedures. With RFID, these issues are almost entirely eliminated—as RFID has an average stock accuracy level of 99%, which is a substantial increase from the conventional 60-80%. Furthermore, RFID-based platforms deliver an unmatched basis for effective and consistent replenishment procedures.
  • Enhanced Customer Experience – Without question, there are countless effects of RFID utilization in retail that extend far beyond standard operational benefits that actively enhance customer experiences. This is thanks to the real-time, instantaneous inventory visibility it delivers. For instance, with its dependable and real-time stock information, businesses can deploy these technologies like AI-powered chatbots or smart, innovative fitting rooms to aid customers with their questions, provide information about different sizes or items that are available, and even create cross-selling opportunities with in-store customers. 

As time continues to pass, the market and supply chains of retails will continually become more and more modernly digitized. As a result, retailers have to deploy equally effective pieces of automation to ensure that they don’t get left in the past. Looking to stay up with the times? Look no further than Strategic Systems! Reach out to our team today to get started.