The retail industry has evolved rapidly over the past few years, and it shows no sign of slowing down. To survive and thrive, retailers need to keep up with the latest retail technology. RAIN RFID can help retailers tackle multiple challenges, including omnichannel fulfillment, loss prevention, and automated self-checkout. Already, major brands like Nike and Zara have seen significant returns on their RAIN RFID investments. These three infographics break down the unmistakable benefits in retail from investing in a RAIN RFID solution.
#1: Omnichannel Fulfillment
During the pandemic, when stores were shut down to encourage social distancing, consumers turned to online shopping. Even as stores reopen, shoppers now want the best of both worlds — flexible fulfillment options including buy online, pick up in-store (BOPIS) and buy online, pick up at curb (BOPAC).
To meet the demand, retailers need inventory systems that offer better accuracy, greater visibility, and access to real-time data about every item’s current location and status. These are fundamental to additional omnichannel needs, such as inventory replenishment, available-to-promise (ATP), and pick-pack-ship fulfillment.
According to Accenture, retailers who had already adopted RAIN RFID say the technology was key to weathering the COVID-19 economic crisis, and more RFID becomes more widely used in retail as we adapt to a digital post-pandemic world.
#2: Automated Self-Checkout
RAIN RFID self-checkout solutions automatically read hundreds of items instantly without direct line-of-sight, meaning customers don’t have to fumble with barcodes or SKU numbers. This reduces wait times, boosts customer convenience, and also minimizes close contact with other people — a comfort for many shoppers in a post-pandemic era.
Instead of simply transferring the cashier’s work to the shopper, self-checkout with RAIN RFID allows stores to create customer-centric experiences that are convenient, intuitive, and fast. According to retail experts, RAIN RFID-enabled self-checkout will continue to grow in popularity.
#3: Loss Prevention
With COVID restrictions easing, customers are returning to stores — but labor shortages are making it difficult for retailers to provide ample customer service and prevent shoplifting. RAIN RFID solutions can help retailers understand what, how, and when specific items go missing, and prevent future shrink.
With traditional loss-prevention technology, alarms at a store exit alert retailers if an item with an anti-theft device passes through the doors. Retailers are left with no specific insight into what items were lost, or how many.
RAIN RFID solutions in retail can reduce shrink and prevent loss. With greater visibility into the details of loss events, retailers can pinpoint and respond quickly to new tactics that may be used by thieves and organized retail crime groups.
An Integral Technology
While the pandemic brought rapid, massive changes to retail, it merely accelerated some shifts already on their way. Either way, there’s no going back. According to an Accenture poll, two-thirds of global consumers polled said that they are now likely or highly likely to use home delivery, with half of that group opting for curbside pickup. In a similar poll of retailers by Accenture, 87 percent of respondents said focusing on RFID enabled them to deliver better omnichannel experiences during the pandemic. Meanwhile, 82 percent said RFID is essential for implementing emerging technologies, and 80 percent said the benefits of RFID cannot be replicated by another technology.
Retailers trust RFID to deliver the accuracy, visibility, and insight necessary for use cases like omnichannel fulfillment, loss prevention, and self-checkout, with more use cases developing as more products become RAIN RFID-enabled. What’s more, the ROI of RAIN RFID compounds the more ways you use it. RAIN RFID is a proven technology with ROI in the retail space now, and with exciting possibilities in the future.