Introduction
RFID: How is it benefiting the retail world? The retail industry has undergone a number of changes in the past few years. In-store shopping experiences have been transformed by the introduction of digital technology, particularly retail technology, and the way customers buy products has also been radical during the pandemic. One of the biggest changes to the retail world in recent years has been the introduction of the radio frequency identification (RFID) system. The technology is being used by retailers to improve the way they manage their stock, and also provides customers with an intuitive shopping experience.
An RFID tag can be placed on a product and when it is scanned by a reader, the reader can determine which product has been scanned. RFID is used in the retail world for a variety of purposes including inventory management, tracking products from the manufacturer to store, and reducing theft by tracking products on the store floor.
Customer benefits
Its use of it in the retail world has had a number of benefits for both retailers and customers. One of the ways that RFID is benefiting the retail world is by providing a better shopping experience for customers.
Another is the ease with which they can shop. Customers no longer have to wait for a store employee to scan a product to pay for it as the RFID system can be used at a self-checkout. The system allows the customer to drop the product in a ‘basket’ next to the till where the RFID reader scans the product. This product then appears on the till screen and the customer is able to pay for it and select the type of receipt they want.
Retailer benefits
Retailers have been turning to RFID to improve the way they manage their stock. It also allows retailers to identify products much more quickly and efficiently than was previously possible. This allows retailers to quickly identify products that have been damaged or that need to be replaced. In the past the process to find these products was time-consuming. Now, retailers can use RFID to identify them much more quickly and efficiently without having to go through multiple counts of the same product.
Another benefit of it is that it allows retailers to have more time to focus on other tasks around the store while the self-checkout does the RFID scanning and checkout for customers. As it is a straightforward procedure to follow, fewer store staff would be needed to manage the tills, thus saving the retailer time and resources.
Why should you invest in RFID?
Now we know that RFID in the retail world has been beneficial for both customers and retailers, and as such, it is becoming more and more common to find in-store RFID readers. Investing in an in-store RFID system for your brand is a cost-effective way to improve your customer’s experience and also increase your data accuracy and stock availability, including protecting your biggest asset, your inventory from theft.
Why not look more into this technology with us? Contact us today to learn more about how RFID can help you flourish.
