RFID in retail involves the utilization of RFID tags on items that emit signals to RFID readers, which are then processed by the software, providing real-time results for transactions, stock taking, inventory levels, or individual customer purchase order history. RFID in retail eases the typical retail inventory process, which is manual, time-consuming, and only performed at predetermined intervals. Item tracking is one of the major applications that retailers use RFID. RFID tags in retail can also be used to prevent theft and track items that are usually moved and often misplaced.
RFID-processed merchandise also makes factual data available to management. It may lead to smarter purchase decisions and give management better expense control, as inventory accuracy is crucial to lowering shrinkage, thus, better profits. Usage of RFID may improve overall merchandise management; accurate tracking of inventory and its location saves money. It also drives greater topline revenues, as it becomes easier to assure that sales are completed. Bottom line, adoption of the system ensures more profitable performance, as there is a more accurate accounting of the merchandise wherever it is stored.
Retailers across the world have been making extensive use of RFID technology, especially in the Apparel business. RFID clothing tags application initiatives encourage new opportunities and developments and initiatives for RFID in the market and decrease the dependency on retail goods.