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July 21, 2016

Increasing Use Of RFID Technology In Retail Sector In The Recent Years

The retail sector has always moved slowly in adopting any new technology. However, the recent years, there has been a surge in the use of RFID technology by the retailers across the world. Spanish clothing retailer Zara, luxury fashion retailer Burberry and reputed cosmetic company L’Oreal all have invested heavily in RFID technology to boost their sales. So, the big question is RFID, a new technology or it has been in the corner for decades and is explored by the retail sector only in the recent times due to the widespread availability of Retail IT solutions. Let us have a look.

What is RFID?

RFID is an acronym for radio-frequency identification technology that utilizes electromagnetic fields for automatic identification and tracking of tags having electronically stored information. In a retail house, manufacturers or sellers attach such tags to the products ready for sale. However, the technology is not new and was in use extensively for tracking migration of animals and birds as well as by logistic companies for tracking transportation of goods.

Myriad of Uses of RFID in Retail Sector

At present, several retail stores are using RFID technology for diverse purposes that are as follows:

To keep a track of what is in the stock, and what is not in real time Warehouse management becomes easy with RFID as it eliminates the need to involve labor manually.

    • To reduce checkout time with the help of RFID technology as sometimes with long checkout times, shoppers become impatient, and this result into a bad shopping experience.
    • To keep a check on forged or counterfeited items as with RFID tags on genuine items by the manufacturer, it will be difficult for others to sell an imitation of the same items.
    • To minimize the incidents of thefts as RFID tags attached to all kinds of goods available in the store or warehouse will discourage thefts and even shoplifters.
    • To improve the customer-shopping experience as some RFID IT solutions enable sellers to easily identify loyalty accounts, and to offer more personalized promotions.

To offer customers wider product knowledge during shopping and this assists them in making an informed choice.

Overall, the use of RFID Technology has increased tremendously during the last few years. There is a speculation that the use will raise more in the retail sector in the coming years and the technology is here to stay for long.

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