RFID is experiencing rapid growth in several vertical markets—and according to industry analyst ChainLink Research—that growth is being led by retail. Users across all industry sectors are expected to consume over 150 billion RFID tags by the end of this decade. Looked at on its own, retail consumption of RFID tags is growing at over 40% per year, driven in part by the retailer’s urgency to get Omni-channel “right”.
If you are a competitive-minded retailer, Omni-channel in no longer optional. It is now an essential element of any strong business strategy. Powered by mobile technology and changes in customer needs and behavior, shopping has evolved into a “whenever and wherever” activity—with consumers expecting no less than a single, seamless purchasing experience across all channels they choose.
Some data to think about, again from ChainLink Research:
71% of shoppers expect to view in-store merchandise online—but only 36% of retailers surveyed say they are able to meet this expectation;
50% expect to be able to buy online and pick up at the store.
39% of customers surveyed say they are unlikely or very unlikely to visit a retailer’s store if its website does not provide physical store inventory information;
The true promise of successful Omni-channel lies in integration. Yet, a recent report by Forrester Consulting shows that nearly 94% of retailers surveyed feel their companies face significant challenges in delivering an integrated Omni-channel experience. Are you beginning to see the gap between what consumers expect and what most retailers are delivering?
What Customers Expect
Updated, accurate product information
Accessibility to your total product line both online and in-store
Relevant promotions
Quick and easy check-out process
Everything at their fingertips
You simply must meet the “anywhere, anytime” expectations of your impatient, wired and socially connected consumers. That, dear retailer, requires accurate, real-time visibility into your inventory at all times. And that requires RFID.
By integrating and enhancing your existing legacy technologies, RFID enables a new and more pleasing customer experience, online and in-store. When your customers are on-line, they can easily see what is available in your store; customers visiting your store can go online (via their mobile devices) to check “real time” availability of merchandise that may not be readily available in your store in the precise color or size desired. Locating product is fast, efficient, 99+% accurate and happens in “real time.” Simple! Free of complexity and easy on your sales staff.
RFID is a key technology enabling effective, efficient retail across all channels. In the words of our friend and RFID guru, Dr. William Hardgrave, retailers can’t “do” Omni-Channel without RFID.
If you are ready to get started with RFID, Truecount can help. We have the expertise and simplified, highly advanced tools to have your up and running with RFID within days (not weeks or months) with no disruption to business. Contact us via success@truecount.com and share your challenges.