What are the business benefits of RFID in retail?

Recent research by the ECR Retail Loss Group identified the following reasons why retailers were investing in RFID:

Driving Sales: The primary goal of investing in RFID was to deliver improvements in inventory visibility and accuracy, which in turn would grow sales.

Optimising Stock Holding: Respondents also recognised the potential of RFID to enable them to optimise their stock holding, reducing capital outlay and improving staff productivity.

Fewer Markdowns: Most case-study companies regarded RFID as a key tool in helping to reduce the amount of stock they offered at discounted prices.

Helping to Drive Innovation and Business Efficiencies: RFID was frequently viewed as part of a broader organisational change project focussed on putting enabling technologies in place to drive transformational change to achieve future success.

Recognising the Omni Channel Imperative: This technology was viewed as a key driver in developing the capacity to deliver a profitable omni-channel consumer experience – in effect the organisational ‘glue’ that will hold together much of the architecture of 21st Century retailing.

Click here for the report