How Retailers can Change Customer Experience at Checkout by using RFID
With the new era of retailing underway, we are now seeing commerce and technology coming together to revolutionize the customer experience
With an increase in technological advancements, retailers are now implementing new technologies to help improve their business operations with RFID being one of those utilised.
As RFID is rapidly gaining adoption within the retail industry across the globe, it is one of the key technologies being applied to help enhance a retailer’s operations. In addition, it also helps to improve a retailers inventory management. As retailers recognise the initial investment and returns of using the technology, they are now looking for alternative ways to leverage the investment in RFID to help gain advantages against their competitors and solve operational constraints.
For many retailers, the most common area they are focusing on changing is the process of customer experience at the Point of Sale (POS) to enable a human-free, automated checkout. Through this implementation, RFID at POS is transforming the customer journey, to make this quicker, more accurate and smoother than ever.
Benefits of Accurate Inventory Management
Within the past two years, there has been global rollouts of RFID technology which demonstrates its rapid ROI based on sales lift, omnichannel fulfilment and inventory reduction. As the technology allows retailers to gain a greater view of their on-hand inventory, they can now achieve 98% inventory accuracy with weekly stock counts.
In addition, through utilising RFID technology items can be accurately tracked and traced from the moment it leaves the warehouse until the customer makes the purchase and leaves the shop. With an ongoing, accurate view of inventory, retailers can ensure that they have products available for their customers, avoiding disappointment and out-of-stocks. Ultimately, this leads to savings and an improved customer experience.