Retaining customers and increasing “share of wallet” are critical in the current tough economy. Consumers spend less, competition is fierce and even well known chains are going out of business. To remain competitive - and solvent - retailers need to develop more profitable relationships with their customers.
Radio Frequency Identification (RFID) has been a hot topic throughout the retail supply chain for a few years. However, its adoption has largely been confined to larger retailers like Wal-mart, which championed the technology earlier on and even went so far as to mandate the use by its vendors.
Given Moore’s Law - computing technology will exponentially increase in processing power while lowering in cost - we can expect to see RFID become accessible to the small and mid-size retailer in the near future. Therefore, we thought it made sense to draft a brief primer on this technology and explain how it might be used in the mainstream retail environment.
If you’re like most retailers, you don’t consider yourself a software expert. You may know a lot about this fall’s merchandise or last decade’s wines, but when it comes to selecting your next point of sale (POS) system, you’d rather wait until tomorrow…
At the same time, you realize the benefits of automating your store(s). You can speed up the check out process, better manage inventory and keep a tab on your profits each day. You know it’s time to bite the bullet and find the right retail management system.
The truth is that selecting your next retail management software system doesn’t require in-depth technological knowledge. Instead, you simply need to roll up your sleeves and run a disciplined selection process - skills you probably already have available, assuming you are succeeding in the challenging retail industry. (more…)
