The RFID technology has led to a shopping experience that is hassle-free. Retailers in the entire world are employing the RFID to improve the satisfaction of customer and boost sales. RFID is changing retail industry. It is improving the store productivity and is preventing losses by providing retailers a real-time perceptibility into product movement and inventory.
With large number of retailers, principally those dealing in 'mass merchandising', providing similar kinds of products, prices and services, competitive advantage depends on commodity selection and availability, cross-selling, marketing, customer service, promotions, operational efficiency & shielding of both store property and merchandise.
RFID, together with an exclusive code, is a promising technique for effective benefits in all these areas. Inventory control, at times, is costly and a time-consuming affair for retailers. Real-time visibility of inventory offered by RFID technology enables perfect management and monitoring of inventory & its supply control at any time.
RFID facilitates fast & precise counts of inventory in store, giving the store's dependable information for deciding on when to order again and how much quantity to order. This can significantly improve revenue picture of a retailer.
A number of retail stores want their customers to hand over their baggage when they enter a store or give proof of purchase. But, if a retail store has RFID readers or writers & RFID-tagged products, shoppers can avoid taking this move. Rather, at the checkout point, the RFID readers can charge consumers only for things with tags indicating they have not been paid for yet.
Therefore, today, RFID labeling has been made compulsory by a number of the world's main retail stores. This step influences around 200,000 suppliers and manufacturers, motivating the global market for software and hardware to hold up RFID.
Thus, for further information on RFID Industry and its growth potential, read the report "RFID Industry Analysis 2006 " published by RNCOS at:
http://www.rncos.com/Report/COM32.htm
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