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How RFID Activates New Retail!
7/5/2018 6:24:09 AM / Editor - Benn / Source - RFID tag World - XMINNOV

How RFID Activates New Retail!


In the development of new retail, the supporting role of technology can not be ignored, in which RAIN RFID and NFC are a key technology - based on RAIN RFID, intelligent supply chain management with advanced tracking and monitoring functions, which can support short range communication and remote communication at the same time, so that retailers can cope with many new application scenarios.   

         

The interaction of consumers and goods is realized by NFC label and is combined with intelligent supply chain management. It is increasingly used as the key element of consumer interaction and loyalty strategy.            

The interactive store function of NFC smartphones, brand verification solutions and non-contact payment are becoming more and more popular, and become an indispensable part of the consumer shopping experience.    

        

The four major scenarios of the technology in improving the shopping experience and improving the ability of the real retailer's product processing are summarized, which also represents a few major trends in the application of RFID and NFC in the global retail market. 


1 .using RFID to enhance the shopping experience of intelligent consumers            

Today, smart fitting rooms equipped with smart fitting glasses can enhance shopping experience. After the smart fitting mirror reads the RAIN RFID label, it displays the goods on the touchscreen after the fitting glass, and recommends that the engine display accessories such as shoes or purses.            

The smart fitting room enables customers to interact with store salesmen or gain feedback from friends through social media, so it can meet the needs of a new generation of customers and regard intelligent connections as the progress of the shopping experience.High-end retailers such as Ralph Lauren or Rebecca Minkoff have attributed the sales increase to 30% of the interactive dressing room, which shows that smart devices are really attractive to the store. 


2. Realizing full channel intelligent supply chain management by using RAIN RFID 

With the rise of on-demand economy, multi-channel and full channel retail sales have increased substantially to meet the demand for accurate inventory and location information.The store is using predictive analysis software to achieve process optimization and help retailers to identify sales potential. It aims to introduce new and special "online shopping, offline delivery" business into the store.        

    

In order to support these two solutions and convert large data into intelligent data, retailers are using RAIN RFID technology to provide accurate real-time data to software analysis. Some retailers have confirmed that intelligent supply chain management helps to maximize the share in the market.   

         

For example, according to sports retailer Decathlon, sales have increased by 2.5% as stock visibility increased, and according to a recent report by Messi department store, its inventory cost has been reduced by $1 billion due to the implementation of RFID. 


3.Integrated RFID solution monitoring perishable goods 

It is a challenge for food retailers to deliver products from warehouse to shelf in time.Such industries usually do not have an accurate insight into the shelf-life of perishable goods in stock. This creates unnecessary waste, which costs US $162 billion a year, let alone health risks and environmental impacts.   

         

A $10 billion retailer can reduce losses by up to $60 million a year by effectively managing inventory loss and shelf life, according to data from an industry research report.         

  

To maximize costs, food retailers are conducting large-scale tests on RAIN RFID solutions, including tracking and sensing technologies for temperature and humidity monitoring. With such a solution, distributors, logistics companies and wholesalers can locate their orders online in real time.   

         

In combination with the electronic shelf label, the retailer will be able to deal with the outdated products in time by reducing the price, and can even direct the consumer to see the general sales promotion. 


4.Enhance consumer interaction and non-contact payment experience through NFC

The RFID product portfolio supports the entire retail ecosystem, including a smart phone that reads NFC tags and a reader chip used to establish an Internet connection, and a card reader chip that realizes secure non-contact payment through smart phones or payment cards at the point of sale.    

        

Contactless payment is increasingly being seen by customers and retail partners as an integral part of seamless shopping experience. 


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