Everyone has heard about RFID or radio frequency identification – a technology used for identifying and tracking inventory and assets. The modern-day footwear and apparel industries are investing in RFID because it can keep thefts at bay, increase sales, and positively contribute to customer experience. To know more, please check out the given discussion right now.
Smart Inventory Renovates Retail
The experts offering RFID solutions for warehouse said they make sure to help the retailers manage their product catalog without any hassle. The resultant ROI (return on investment) from using RFID is speeding up the migration of the brand-owners and retailers to a transformational modification inside the industry. When one notices the change within the RFID markets, they agree it is a completely
With more than 300,000 stores and about 40 billion sales every year, the footwear and apparel industry initially used to deal with inventory through a barcode system. However, owing to the phenomenal evolution of customer purchase patterns, unprecedented changes are occurring – ones that only RFID can handle. Major examples include omnichannel models, step function improvement, immense competition, etc.
With a large number of RFID tags already available and with thousands of top retail establishments using it on a daily basis, you do not have to anymore wonder whether the technology will work or not. Now it is time to customise it as per varying requirements and expectations.
The RFID solutions for inventory management allow the retailers to know exactly what they possess; thus, they are capable of delivering what the customers want within a stipulated period. This is primarily accomplished because the retailers have thorough knowledge about their current stock.
The inventory accuracy and decreased out-of-stock problems translate into amazing enterprise operations developments:
· The sales escalate in the stores by 7%.
· The reduction in the inventory is between 6% and 11% inside the supply chain.
· The cancellations are reduced by 50%.
· There is no more need for manual counts.
The retailers using RFID enjoy tangible ROIs, which pave the way for plenty of other benefits in their enterprise.
The footwear and apparel industries using RFID also have to face a few challenges. But these can be eliminated if a retailer agrees to leverage his/her experience, exclusive strategies, and the global footprint.
The challenges that must be addressed at the moment are as follows:
· How to determine the right kind of RFID?
· How to determine the usage?
· How to build item-level cases?
· How the solutions scale down the road?
· What is the most cost-efficient and non-disruptive way to receive encoded RFIDs?
· What does the integration of RFID with the existing systems look like?
In this amazing new era, the consumers want an experience that will help them purchase products wherever and whenever they want. And they wish to do all this knowing that the sale procedure will suit their needs without hassle. Well, to get RFID for your footwear and apparel store, please rely on an authentic provider who assures quality as well as affordability.