Radio-frequency identification (RFID)-powered digital inventory management helps you provide your customers with more customized shopping experiences and helps you to ensure that you always have what they need in stock. The bottom line is that with Digital Inventory Solutions you are not only cutting costs, but you are also selling more to happier customers who are getting their individual needs met. In the modern economy and retail landscape, this is more important than ever, and the urgency to digitise operations is becoming more apparent.
Avoid “out-of-stock” with RFID
Time is one of the most valuable dimensions of our lives and no one likes to waste time going to a store to pick up something that is not available. With RFID technology, retailers can update their inventories instantly. They are also made aware of what are the fluctuations in sales are the preferred products of their customers and those that least interest them. In addition, they can ensure that they will never be short of the products their customers value most. When customers do not find the products, they are looking for, they quickly go to the competition and are more likely not to return.
Better employee availability to customers
One of the biggest benefits of RFID technology is that your employees have more time to be on the floor helping customers and selling. In the past, you might have had one or two employees tied up doing inventory for a week. If a customer wanted a certain pair of jeans in a certain size, it could take up to 10 minutes just to locate them “in the back”. We all know the experience of being a retail customer and needing assistance but often find employees are busy counting inventory or endlessly searching for a random pair of socks for another customer.
Good customer service is essential to any retail business. Imagine how much better your employees could serve customers now that inventories are done in 10-15 minutes with Digital Inventory Management. Your employees can also now instantly find the exact location of any item at any time, so the endless search is over. The bottom line is that RFID technology is taking care of countless administrative tasks, so your employees can now truly help your customers and focus on selling.
We all know the unpleasant experience of being a customer in a store where the lines are 30 minutes long and only half of the tellers are in use due to staff shortages. With Digital Inventory Management, you can reduce queue time by 90% or even have fully automatic checkouts.
Because RFID readers do not need to scan each item individually, they can sense everything that is already in a customer’s shopping basket. Imagine a seamless self-check-out where all a customer must do is put their basket on a reader, and it instantly tallies up the entire purchase.
More cost-efficient and effective security is also a big plus. If we look at the clothing industry, traditional bulky plastic security tags (EAS) are extremely expensive and don’t contribute to your bottom line. Not only do you have to invest in the system, but you’re also charged every time a tag is removed from a piece of clothing.
With RFID, the reader can now pick up on tags that haven’t been sold as every item has a unique code. Automatic alerts can also alert you to potentially high-value theft (or a high-value customer). Just by eliminating the regular cost of an EAS system, you are already bridging the investment gap of bringing a digital inventory management solution into your business. Once you have the RFID technology up and running, there is no additional cost to maintaining the security of every item in your inventory.
The bottom line is that happy customers are returning customers. With RFID integration, you can offer a more personalized service that is always on point, and that is exactly what modern customers are looking for. The accurate real-time data on your stock, provided with RFID, helps you stay on top of your stock management.