By deploying RFID readers and tagging items, retailers including Macy’s, American Apparel, Kohl’s and Zara are able to collect a data feed that gives them Item Intelligence – real-time visibility into inventory location, identity and authenticity. With this data, these retailers now leverage their existing assets and develop competitive advantage across a number of different business aspects, including:
Reduced Out-of-Stocks and Markdowns: Accurate and timely Item Intelligence can help retailers increase revenue by avoiding out-of-stocks and end-of-season markdowns of overstocked items.
Omni-channel Fulfillment: Making in-store items available for sale online requires accurate, real-time inventory information. Omni-channel retailers can leverage Item Intelligence to convert their stores and in-store inventory into strategic assets by transforming them into virtual fulfillment centers.
Loss Identification and Prevention: By providing accurate, real-time location of all items within a store, an Item Intelligence platform can enable loss-prevention systems that deter theft by sounding alarms. Because systems using Item Intelligence also provide the identity of a stolen item (unlike legacy systems which only know that something has been stolen), the store’s inventory management system can be updated to accurately reflect the quantity of items on hand.
Automated Checkout: Item Intelligence can enable speedy, accurate, bulk identification of purchased items at checkout, benefitting retailers by reducing time, personnel and space at checkout.
Enhanced Shopping Experience: By using the accurate, real-time inventory and location information provided by our Item Intelligence platform, retailers can enhance their customers’ shopping experience by making items easy to locate on the sales floor and offering real-time replenishment as items sell.
Our new e-book, Item Intelligence & The Shopper’s Journey, explains how Item Intelligence is helping retailers create engaging customer experiences and collect valuable data at all steps of the shopping journey: go, search, learn, try, buy and get. Read our e-book today to find out more about these customer experiences and the types of data they create.