Retail Intelligence Blog
October 4th, 2018
Combining advanced technologies and RFID to enhance the omnichannel customer experience
Many retailers are only now waking up to the potential of RFID, due to their direct connection to consumer needs, more than any other trading partner in the retail supply chain. The pressure is on retail businesses to deliver the accurate, seamless and fast shopping experience their customers have now come to expect. It is therefore not surprising that the retail RFID market adoption is expected to reach over 35 Billion tags annually and over 200,000 stores using the technology to transform operations.
Item-Level RFID technologies, enabling inventory accuracy’s of over 98%, ensure that retailers can drive more efficient store processes and new levels of consumer satisfaction. The technology is a critical component of the journey that retailers have entered to transform their operations into digital age. The innovative technology of RFID has the power to unlock the digital potential in businesses core systems, including, inventory management, product availability and financial operations. Behind the adoption of RFID, is the live or die transformation retailers are going through around implementing effective omnichannel strategies, driven by our changes in how we shop and buy products. (more…)
September 13th, 2018
The future of retail is a marriage between item-level RFID and 2D barcodes
The retail industry has seen significant changes over the last few years, with many pundits eager to say that retail is “dead” as more and more stores lower their shutters for the last time. However, whilst it’s true that the landscape has become increasingly competitive, the sector as a whole is far from extinction as retailers are quickly recognizing the need to not only have great products that customers are expecting, but they must also implement game-changing technologies to remain relevant.
Retailers that fail to adapt to evolving customer demands could soon find themselves closing their doors for good. Yet, whilst there is a clear need for retailers to innovate, they also need to be careful where they invest their precious capital. The sector is full with buzzwords of emerging technologies such as AI, big data and innovative payment solutions. (more…)
August 30th, 2018
Connecting retailers with RFID solutions around the world
The RFID industry has grown rapidly over the last few years and continues to do so. With this rapid increase, retailers are beginning to see the significant ROI from the technology and, as-a-result, adopting the technology at a rate of over 30% each year. However, many retailers are still apprehensive in the rollout of this technology, as they worry implementation can take long periods of time, whilst causing a number of disruptions to their daily processes.
It is beneficial for retailers to implement their RFID solutions as quickly as possible in order to not miss inventory accuracies and keep up with customer demands. This is essential for retailers as the technology can provide them with an inventory accuracy of 98%, allowing them to avoid out-of-stocks and improving customer experience as a result. (more…)
August 20th, 2018
Using item-level RFID at Point of Sale will change the customer experience at checkout
A new era of retailing is beginning to emerge where technology and commerce are joining forces to revolutionize the customer experience. More and more retailers are implementing new technologies to improve their processes and finding new and innovative applications of existing technologies to optimize their daily operations.
RFID technology is rapidly gaining adoption within retail and it is significantly improving inventory management. Retailers are now looking at additional ways to leverage the investment they put into RFID, once the initial investment and returns have been realized. As a result, retailers are now commonly placing focus on the changing process of customer engagement at Point of Sale (POS) moving to automated and human-free checkout. (more…)
August 9th, 2018
Solving the RFID Tagging Needs of Retailers
The item-level RFID retail market has grown rapidly over the last few years as more and more retailers are transforming the way they manage inventory to serve customers more effectively, creating a New Era in retailing. With this rapid increase, retailers are rolling RFID out in its masses and adopting the technology at a rate of 30% per year. However, many retailers still believe that the technology requires the large investment as it once did. Yet, due to the evolution of the technology and more global deployments making implementation much more cost-effective, RFID carrying a high cost simply isn’t true; especially when compared to the ROI.
As one of the largest providers of item-level RFID, SML continues to invest in its technology and RFID tagging solutions to provide retailers greater value for money and rapid ROI. Its state-of-the-art high speed encoding and converting solutions are ensuring to accommodate the expansion of existing and new brands in a fast-paced retail industry. (more…)
July 5th, 2018
SML Unveils GB3U8 RFID Inlays Powered by NXP’s UCODE 8 Chip
Today, SML has announced the latest addition to its range of high performance RFID inlays, the new GB3U8 inlay which is fully compliant with GS1 EPC Gen2v2 standard, supporting RAIN RFID with global UHF frequencies.
Measuring only 50x30mm, the GB3U8 RFID inlays are designed for use by omnichannel retailers in store and across supply chain deployments around the world.
The new inlay is the latest entry in SML’s extensive portfolio of RFID inlays which enable retailers to track, manage and gather data on a number of market applications including denim items, poly bags, apparel tags and boxed items. (more…)
July 3rd, 2018
SML Continues to Expand Capacity to Support Growing Global RFID Market for Retail
—An impressive year for RFID has been witnessed across the globe—
DALLAS — July, 3rd 2018 — SML, the leading full-service Item-level RFID solution provider, has today announced its impressive progress in the retail industry. In 2017, the company produced over 1.4 billion encoded RFID tags, allowing SML to deliver encoded RFID tags to over 95% of the retail RFID rollout projects around the world.
SML is a trusted partner to the world’s largest retailers and top fashion brands, delivering proven results and rapid ROI. SML offers a broad range of certified RFID-enabled labels, stickers, hang tags, woven labels, printed fabric labels and inlays from the largest global network of RFID source-tagging service bureaus.
The Item-Level RFID encoded tag market is currently growing at over 30% each year and SML is investing heavily to support this rapidly growing market. High speed encoding and converting solutions are accommodating the expansion of existing and new brands in a fast-paced fashion industry. More SKUs, lower volumes per SKU with higher overall volume and faster sew to store timelines are aspects which can all be achieved by the adoption of RFID. (more…)
June 14th, 2018
Using RFID to Prepare for Increased Customer Demand Around Major Events
Major national and international events offers retailers with a number of significant opportunities to drive sales at an exponential rate. For example, it was reported that the royal wedding is set to boost UK retail sales by an estimated £195m. As well, this summer’s FIFA World Cup will see retailers experience an influx of customers looking to purchase team memorabilia, souvenirs and alcohol. Whilst these events encourage consumers to spend more, it also presents a number of challenges that could see retailers fail to keep up with increased consumer demand; specifically around inventory management.
Most retailers believe that they have an accurate view of their inventory. However, the truth is that their stock accuracy can be as low as 68%; with items being easily misplaced or lost through the supply chain. Whilst this might be just about adequate for general day-to-day operations, it isn’t good enough when there is a clear increase in consumer demands shown around major events; leading to out-of-stocks, missed sales opportunities and poor brand experience. However, after implementing RFID ILT technology, retailers have seen that their inventory accuracy can be higher than 98%. (more…)
June 14th, 2018
How Retailers Are Discovering Inventory Inaccuracies After RFID Pilots
For retailers looking to implement RFID technology, a key challenge is quantifying how much difference Item-Level RFID can make to inventory accuracy. It is the promise of large improvements in inventory accuracy that is driving the exponential growth in the number of retailers who are starting pilots to experience first-hand the operational benefits of the technology.
In May 2018, SML hosted a Drapers webinar in partnership with Zebra Technologies and CapGemini to discuss how RFID can revolutionize a retailer’s inventory accuracy. (more…)
June 5th, 2018
SML Enables Mobile Phone Retailers to Reduce Shrink and Out-of-Stocks
The mobile phone industry has seen rapid growth within the last decade; driving competition amongst brands to release the latest handset and upgrades. The sector has become one of the fastest growing with 380 million units sold in 2017 alone.
As the industry continues to see exponential growth, retailers within this space are experiencing a number of challenges around accurate inventory management. These challenges include the time it takes receiving out-of-stock products and adequate shrink management within their stores. (more…)