Retail Intelligence Blog
November 26th, 2018
Increase your revenue with Item-level RFID this Christmas
Christmas is the most wonderful time of the year – and it’s approaching fast. There will be endless festivities of seasonal music, delicious food and excited bargain hunters looking for that perfect gift. As a result, it’s the most wonderful time for retailers but nothing is worse for consumers (and the retailer) than deciding on that perfect gift only to find it is out of stock.
The Christmas retail season is certainly hectic but making things worse is the huge snowstorm of consumer demands that make it difficult for retailers to maintain a high level of inventory accuracy. Poor inventory data will negatively impact the brand through missed sales opportunities and a subsequent poor brand experience, which often causes customers to buy from the competition. (more…)
November 14th, 2018
How Retailers Can Utilize RFID for Brand Verification
For many global brands, counterfeit goods are a significant problem. According to a survey by The International Chamber of Commerce, the cost of counterfeit and pirated goods in G20 has nearly tripled in the past three years. Globalization within the retail sector has caused vulnerability within product supply chains and has resulted in counterfeit goods becoming a widespread issue making an impact on every responsible retailer.
Whilst there are some items that are inherently more at risk, counterfeit products mean much more than merely a loss in revenue. It also diminishes trust in your brand and causes a risk to the customer. Retailers that want to protect their brand need to preserve trust while avoiding the consequences. (more…)
November 2nd, 2018
Watch Again: How an End-to-End RFID Solutions Approach Has Reduced Risk and Accelerated ROI for Retailers Around the Globe
Retailers are accelerating their adoption of radio frequency identification to improve inventory accuracy and dramatically boost customer service. Dean Frew, CTO and Senior VP of RFID Solutions at SML Group and Gary Moskovciak, Senior VP of Americas Region at SML Group presented some of the lessons learned across the spectrum, from source tagging to in-store operations and ROI, that have led to some of the most notable global successes in the RFID retail market to date. (more…)
November 2nd, 2018
Digital Transformation of a Horse and Buggy in Retail
It goes without saying that retail technology has seen a transformational change, particularly over the last 20 years, with the rise of digital processes that impact the customer experience. The term “Digital Transformation” is now commonplace in business. Digital transformation can be defined as breaking down the barriers between the real and digital worlds, so that computer applications and artificial intelligence can be used to create new and unprecedented efficiencies, as well as helping businesses gain a competitive advantage. As a result of its growing popularity, more retailers are creating and funding projects to kick-start digital transformation across their stores. (more…)
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…)