The implementation of RFID technology is imposed in the retail sector

RFID technology allows for better control of products in stores and, according to a study published by Tyco, have a greater offer, in addition to increasing sales.

Increasingly, The retail sector is betting on RFID technology. This is highlighted by a study by ChainLink Research that has been made public. Tyco Retail Solutions, provider of solutions for improving store performance and safety that provides its services in Europe through Tyco Integrated Fire & Security.

The ChainLink Research team surveyed and interviewed more than 120 retailers in Europe and America to assess the resurgence of interest in RFID technology and the considerable increase in its use in the retail sector. The objective results show that the main causes of this increase in the adoption of this technology is motivated by the improvement of stock precision, reducing the number of products out of inventory (OOS) and increased availability of products at the point of sale.

Compared with traditional manual barcode scanner, RFID technology allows inventory to be carried out up to 25 times faster. Frequent and accurate counting improves inventory accuracy over time. 20-30 %, allowing retailers to achieve inventory accuracy of 99 %. This makes it possible to reliably generate replenishment alerts, reducing by a 15-30 % the number of products left out of inventory and increasing availability at the point of sale.

The report has shown that almost all retailers that are moving forward with the widespread deployment of RFID have experienced an increase in sales in those categories in which they have implemented this technology at the item level.. This is mainly due to the reduction in the number of products that are left out of the inventory., thanks to the improvement in inventory accuracy provided by RFID technology.

“RFID technology has become much more reliable and software applications are now available that can be integrated into retailers' IT systems and are easy to use at the store level.”. “In addition, these solutions are evolving towards an integrated approach and system providers and integrators have greater experience in the retail sector.”, explica Ann Grackin, CEO of ChainLink Research.