Why is RFID So Popular in Retail?
RFID has been enjoying lots of positive press lately as the technology’s adoption in the retail sector soars. With research showing a 39 percent rise in the number of retailers that used RFID in 2017 over 2016, it’s no wonder that this technology is a huge talking point.
The buzz is certainly justified, with RFID tags giving retailers incredibly useful insight into what goes in stores as well as improving customer service. With all the products found in a typical store, keeping an accurate inventory is essential. In addition to the headaches improper inventory can cause for management, customers will head for the competitor if they can’t find what they need.
Retailers that have access to accurate, real-time data have a significant edge, and those that take this one step further by offering customers a way to buy products online and then pick them up in store can offer new levels of flexibility.
Dropping Prices Will Increase Adoption Further
Another factor behind RFID’s tremendous growth in recent years has been its increasing affordability. RFID tags cost around a dollar back in 2003, a price that quickly added up if a retailer wanted to add a tag to every single item in their store. That price has come down to around just 10 cents now, making it far more feasible for many companies. It’s only likely to get better from here; tech companies have set a target for getting the price of RFID tags down to one cent each, which will increase its adoption even further.
The readers for these tags are also becoming more affordable. While handheld devices can be picked up for a very reasonable cost, many retailers are finding that fixed RFID solutions are a better investment in the long run thanks to their ability to fully automate processes and decrease ongoing labor costs. Best of all, with RFID’s ability to speed up inventory and item tracking, employees have more time to interact with customers and carry out other tasks.
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This blog post was based off of an article from Intel’s IT Peer Network. View the original here.