Retail Analysis
What’s Behind The Boom In Item Level RFID Adoption Within The Supply Chain
Dean Frew, CTO and SVP at SML RFID, summaises some of the key findings from SML’s panel discussion at the Retail Technology Show.
O
ver the past few years, RFID technology has rapidly gained momentum within the retail industry and has become a key
technology applied to aid retailers’ operations by improving inventory management and stock visibility. While the technology itself is nothing new, with the increase in shopper expectations since the pandemic, delivering a seamless customer journey has become critical for retailers who want to stand out among a sea of competitors. This year’s Retail Technology Show (RTS)
reunited the UK industry for the first time in two years, bringing together retailers, vendors, thought-leaders, and trailblazers from around the world. At the event, Chief Technology Officer and Senior VP of RFID Solutions at SML, Dean Frew, hosted a discussion on the rise of item-level RFID within the retail sector with a panel of industry experts and thought leaders, each offering their own insights and wisdom on the impact that RFID is currently having on retail.
The Customer Journey According to research by Talkative, a seamless customer journey is
6 | September 2022
the most effective way to keep customers happy and loyal to your business. The research further indicates that consistently offering this kind of approach is also proven to attract new customers as well. John Cooper, Senior Director of
Merchandising, Supply Chain, Applied Analytics, and Transformation at George Clothing (Asda Group) mentioned how after implementing item- level RFID, retailers noticed a significant improvement in the customers’ in-store experience by simply enhancing their stock visibility. He explained: “We were losing 30% of our inventory before RFID. In-store we could see empty shelves, but our systems were saying the stock was there. Of our customers whom
complained, 50% commented on size availability”. Cooper further states that the group lost a lot of revenue by not satisfying the customers’ demands. He continued: “After rolling out RFID, we saw 50% of our out-of-stocks that we replenished sold within a matter of weeks – the impact was significant”. A recent SML study found that 43% of retailers believe enhanced stock level visibility would aid them in better serving customers
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