Why Does the Retail Industry Like to Use RFID?

1. Introduction of RFID technology in retail stores

Through RFID technology in retail stores, customers can easily find what they want online and in stores. The benefits are more than that. Just Imagine that through this technology, the shopkeeper can know what products are sold quickly and the number of goods left on the shelf. For retailers, full understanding of product information means more sales. In order to effectively sell products to customers, businessmen need to know the needs of customers to effectively maintain a healthy inventory of goods.

2. Why does the retail industry like to use RFID technology

At any time, 8% of retail products are out of stock in stores, which undoubtedly brings huge losses and costs to retailers. Failure to find items with missing inventory can lead to incorrect inventory counts and out-of-stock situations. RFID technology in retail stores can completely control such processes and ensure the accuracy of inventory even if the inventory is constantly changing. Store buyers and sales staff can also track customers' buying habits, helping them to develop better marketing activities and promote sales to increase.

a. Maintain a healthy and accurate inventory

RFID technology in retail stores for real-time inventory analysis means that popular products will not be out of stock, ensuring sufficient product inventory while keeping inventory costs to the lowest.

b. Promote sales growth

According to statistics, accurate inventory can increase the sales of retail stores by 8%-10%. This is entirely because they know real-time sales, which means that more efficient inventory decisions can be made, such as selling more inventory at full price or reducing inventory of unsold items.

c. Fast and accurate inventory counting

RFID can identify items quickly and reliably. The speed of data capture using the RFID system is less than 5% of the manual processing time, which means that the workload counted by three people manually the whole day can be completed by only one person in 30 minutes with RFID technology, greatly improving the efficiency of inventory management.

d. The best operational efficiency

Customer experience and operational efficiency usually go hand in hand. Adding RFID tags to products can speed up customer checkout time, provide more accurate receipts, and revolutionize inventory management. For retailers and customers, it has greatly improved efficiency for real.