RFID-based solutions can quickly cut costs and increase revenues thanks to their proven ability to improve inventory accuracy. And because more accurate inventory supports a number of other key retail initiatives, including contactless checkouts, BOPIS and other forms of store-based fulfillment, the ROI from RFID can be both quick and long-lasting.
However, retailers shouldn’t think of RFID as a tool just for inventory management. The tags can be harnessed to support a range of tasks including:
- Managing COVID-19: RFID can serve as a gateway to a number of solutions that will be important in a post-coronavirus landscape;
- Making better use of associates’ time: RFID applications can help retailers cut labor costs by improving staffing and streamlining inventory-counting processes;
- Enhancing customer service: Both shoppers and associates can benefit from a clearer view of what items are located where, and in what quantities; and
- Enabling the store of the future: RFID isn’t a one-size-fits-all answer to retail challenges, but it can support other solutions as part of a wider collection of next-gen technology.
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