Clarity® RFID Software Part 2: Driving Retail In-Store Performance
Tracking in-store performance has become a crucial tool for retailers in today’s data-driven landscape. With access to the right tools and information, retailers can analyze data to find patterns and trends that help them better understand their business processes. From there, they can make more informed decisions, faster.
Today, data is at the center of the retail experience. Modern retailers must leverage analytics to constantly improve retail store performance and meet ever-changing consumer demands. A recent Deloitte survey of retail CFOs and finance executives revealed that 88% are re-evaluating their metrics to reflect their cross-channel operations accurately. In this context, tracking in-store performance has become vital for retailers looking to stay competitive in an increasingly crowded market.
Modern RFID technology enables retailers to efficiently track inventory, improve omnichannel performance, and streamline operations. These capabilities are supported by robust data that provides detailed insights into in-store retail performance.
In Part 1 of our Clarity® blog series, we discussed how SML’s Clarity® software can provide retailers with optimized inventory management and improved visibility throughout their supply chains. Part 2 explores the technology’s impact on the in-store experience, and how Clarity® enables streamlined operations on the shop floor. With SML’s Clarity® RFID software, retailers can utilize powerful item-level RFID technology to transform in-store performance.
Improved Inventory Accuracy
A retailer’s success heavily relies on its ability to cater to the needs and expectations of in-store customers. Many retailers are adopting a more customer-centric approach to their operations in order to achieve this. Inventory accuracy is a crucial factor in ensuring that retail stores are well-stocked and able to meet the demands of their customers. On average, a retailer’s inventory accuracy stands at approximately 65% without RFID. However, by implementing the technology for inventory management solutions, this number can grow up to 93-99% .
With the right technology, retailers can streamline their inventory control processes and minimize employees’ time completing manual tasks. This, in turn, allows in-store associates to focus on the customer, enhancing their overall shopping experience and allowing retailers to thrive in a highly competitive market.
Omnichannel For Customer Needs
Customers seek more than a traditional shopping experience in today’s fast-paced world. They want convenience, flexibility, and a seamless shopping journey. Retailers can improve their in-store performance by offering customers multiple purchasing options that suit their needs. This means creating a cohesive and consistent shopping experience across all channels, whether in-store, online, or via mobile devices.
RFID technology is crucial in enabling omnichannel shopping experiences by providing accurate and real-time inventory visibility across different sales channels. It provides real-time visibility into inventory levels across all locations and customers are able to shop in a way that best suits them.
By deploying omnichannel offerings such as buy online pick up-in-store (BOPIS) and buy online return in-store (BORIS), retailers can create convenient experiences, drive customers in-store and streamline their transaction process.
Better Insights Means Better Performance
In the ever-changing competitive retail landscape, providing a seamless in-store experience for customers is crucial for retailers to succeed. SML’s Clarity® solution allows retailers to enhance their customers’ shopping experience by reducing out of stock scenarios, improving labor efficiency, and fulfilling e-commerce orders. With this cutting-edge technology, retailers can design a premium shopping experience to draw customers in for repeated purchases.
Clarity® is an unparalleled RFID software suite that has revolutionized the efficiency and accuracy of retail stores’ logistics, supply chains, and customer experience challenges. With its core platform built to deliver value, it offers comprehensive scope for solving today’s most pressing retail challenges. This software optimizes operations with item-level precision, providing unmatched inventory visibility and control insights. This innovative technology has elevated the global performance standard for retailers of all sizes.
Discover the tools to power your store operations. Download the brochure and learn more about the transformational business cases for Clarity® Store.
Read our Clarity® RFID software series here:
Part 1: Creating Supply Chain Visibility