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The Renaissance of RFID Among Retailers
Top retailers are tagging billions of items, and a ChainLink Research study finds that those capitalizing on RFID are realizing a sizeable operational, financial and customer-satisfaction advantage.
RFID Best Practices
One common thread among successful implementations is that they usually start with the area of fastest ROI. According to the research, for most retailers, this is a focus on products with "high mix complexity," such as style-, color- or size-intensive items, including apparel and footwear, inkjet cartridges, certain cosmetics, fragrances and certain sporting goods. What these categories have in common is the need to keep many variations available on the sales floor, so that when a customer walks through the door, items of the correct product, color and size are in the proper place at the right time. The primary driver here is an increase in sales resulting from on-floor inventory availability and out-of-stock reduction. RFID ensures increased inventory accuracy and visibility, appropriate merchandise allocations, and timely replenishment alerts to drive these results.
Research confirms that new life has been breathed into RFID, and that retailers capitalizing on this opportunity are winning the hearts (and wallets) of customers around the globe. There has been no other new technology in many years that offers retailers the broad range of benefits RFID provides. Those retailers not currently considering RFID will find themselves struggling to compete as the RFID renaissance gains momentum.
Randy Dunn is the director of global sales and professional services at Tyco Retail Solutions.
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