Retail
attain commercial growth. However, in today’s fast-paced technological era, retailers need to do more than keep up with the latest technology, they need to leverage it to provide enhanced customer experiences, understand their businesses better, and stay ahead of competitors. Te stacking of different systems means that
retailers can build the ideal bespoke solution for their business to increase resilience. In 2021, over $100 billion in investment and funding went into retail technology deals across the sector, and in the years since hasn’t shown any signs of slowing down. In an age where technology is adapting and
changing frequently, retailers have the luxury of building a technology stack that is bespoke to them and their businesses. Each retailer has its own customer base with individual needs, meaning solutions need to reflect the resilience strategy and ensure it is the best fit for them. Some retailers operate as an online only service while others provide bricks and mortar stores alongside their online operations, so require innovative solutions to manage their business operations. Retailers must always be one step ahead in satisfying consumer demands in a fast-paced and changing sector, giving customers an experience that their competitors just can’t match. With many retailers already using RFID, the demand for new
applications of this technology is increasing. As discussed above, consumer demands have changed in favour of convenience and efficiency, so retailers are seeking applications that are easy to implement and can create an impact immediately. By introducing solutions in phases, retailers can build a solution that is bespoke to their business and their customers. One of the use cases we see more and more is implementing RFID at the point of sale, which unlocks new use cases and adds additional benefits to current RFID infrastructures.
Succeeding in a digital-first economy Advances within the retail sector have seen automated capabilities become more sophisticated while pushing towards greater technology integration, harmonising both hardware and soſtware. With the rise of the digital-first economy, it is also imperative that retailers are aware of the technological options available to them, so they can best make use of what is available to them and what is the best fit for their business. Te use of RFID technology has already advanced across the
sector, and has been adopted into all points of sale from stock management to simplified checkouts; providing retailers with the ability to easily track the movement of stock throughout their supply chain, from the warehouse to the store stockroom. Te use of RFID in the supply chain also enables retailers to have greater visibility of issues before they arise, meaning that disruptions are caught and dealt with early and efficiently. Identifying these issues early on can mitigate unwanted costs and keep consumer satisfaction high. Te adoption of automation and AI in retail is already attracting
attention when it comes to the future of jobs in the retail industry, however, supply chain, value chain, and admin roles would also be
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severely impacted in a move to a more automated workforce. For example, advanced planning tools can dramatically reduce the time needed to plan merchandise so retailers can act more quickly. By automating time-consuming tasks, teams can free up time for more strategic duties that add value to the overall operation. Te retail sector is evolving rapidly and major
brands have needed to adapt to the shiſt of increased digitization to bolster efficiency, lower costs, and become more sustainable in their operations. Tese changes not only improve resiliency but also ensure that the expectations of customers remain at the fore as new technologies continue to emerge and streamline the retail experience in the years ahead.
New developments from Nedap RFID is by no means new to the retail landscape and can be implemented through a number of solutions. Nedap has recently introduced its iD POS 2, which works in conjunction with iD Cloud to create real-time inventory visibility with zero waste and no losses. Nedap’s iD POS 2 is a point-of-sale (POS) solution that operates
on RFID technology designed to accelerate the checkout process. Te system offers a range of features to aid retailers to streamline their operations and ultimately increase sales. With RFID technology, the POS solution can quickly and
efficiently recognise multiple products at a time and reduce checkout times – a frequent retail bottleneck. Te soſtware can also be integrated with existing systems, allowing retailers to upgrade their current POS capabilities without having to disrupt their existing operations. Te solution is flexible with retailers having the ability to
customise the system to meet their specific needs. Allowing retailers to have greater visibility of stock, as well as offering analytics and reports, provides them with more detailed insights into their sales and customer behaviours. Tis visibility gives retailers the ability to make informed decisions, identify top- sellers, and monitor stock levels. Furthermore, RFID allows full transparency over a retailer’s inventory to not only minimise losses but ensure increased on-site inventory efficiency levels to satisfy consumer demand and upsell on service. Tis level of connectivity provides real-time updates that
allow for a more streamlined service, notifying sales associates of issues as they occur while minimising the time it takes to correct them. Installation of the solution is as simple as plugging in and downloading the settings and once integrated provides an unmatched level of convenience and peace of mind that comes with the added level of connectivity. Te experiences and tribulations of recent years have opened
the eyes of retailers across the planet. Tey are no longer overlooking shortfalls in their systems and the need to embrace new technologies, reaping the benefits from their stores and supply chain that come from a best-of-breed approach. With simplicity and adaptability, the platform shows retailers how essential RFID is to the future of retail operations, and how easy it is to make the retail experience even better for both current and future customers.
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