Retail 3.0 Transformation
by Dean Frew, SML Group, CTO & SVP RFID Solutions
RFID represents a significant transformation for retailers as they move from sku based to item-level inventory management. We call this new state “Retail 3.0.” In the 1980s (Retail 1.0), retailers adopted bar codes and point of sale technology. In the 1990s (Retail 2.0), retailers adopted Electronic Article Surveillance (EAS), supply chain systems and web-based ecommerce systems. In the 2010s (Retail 3.0), retailers started adopting RFID item-level technology, omnichannel, customer experience and customer behavior analytics. RFID solutions are the foundation for this disruptive Retail 3.0 transformation, and it is likely the only transformation of the retail industry that we and our customers will likely go through in our career.
SML’s RFID tags, software solutions, deployment plans and customer service have been paving the way for this major retail transition. Our technology is continuing to bring unprecedented competitive advantages and operational efficiencies to retailers and brand owners all over the world. What makes all of our projects most successful, however, is the human element of our company: our team’s commitment to effectively partnering with clients has allowed us to jointly deliver solutions that have become benchmark RFID deployments in the retail industry around the globe.
In the next 10 to 15 years, SML anticipates that the RFID tag market will grow to over 30 billion tags per year and will see over 150 thousand stores using RFID. By continuing to provide world-class RFID technology, products, manufacturing and customer service, SML will remain a leading participant in this industry transformation.
Curious about how retail is changing with RFID? See it in action for yourself in London on October 25th and 26th. Click here to learn more and to register for the event.