The power of using RFID in the apparel industry
Radio frequency identification (RFID) technology is one of the fastest growing retail programs today. RFID consists of electromagnetic RFID garment tag attached to objects, tickets, assets and commodities. These RFID apparel tag contain electronically stored information, sensors and antennas.
Through radio waves and hardware (such as beacons or communication sensors for proximity marketing), the RFID clothing tag is activated by a reader/antenna that reads and transmits data. These UHF apparel labels are not only affixed to products, but also on shelves and display stands in stores, and embedded in many luxury goods.
RFID entered the retail market in the late 1980s, mainly for tracking inventory. In the early days, RFID hardware and RFID garment tags were expensive for mainstream products. Each RFID apparel tag cost $1 or more,. In 2015, the RFID market was valued at US$26 billion, and innovation in the Internet of Things (IoT) is on the rise. Today, the cost of RFID garment label is about 10 cents per label, which makes the entire industry cost-effective.
RFID covers RFID garment tag manufacturers, sensor hardware, platforms, software and solutions. We will focus on retail business solutions, where RFID creates "smart products" to provide information, promotions, recommendations, and identification and location services.
Luxury brands are embedding technology in their products to identify the authenticity of unique products, while mainstream retailers are focusing on inventory management, which can easily achieve a return on investment based on this alone.
RFID solutions are delivered with the Internet of Things and the entire supply chain, simplifying operations, improving efficiency, realizing a true omni-channel inventory, and tracking the entire project from design to delivery, and keeping it in the product life cycle. Delivered to the customer. The in-store solution can draw heat maps of the store, provide product information for sales staff, provide real-time inventory to increase sales, replenish inventory, provide promotions and recommendations, and provide a personalized customer experience.
The retailer also gains data analysis that converts from the sales floor to the fitting room, tracks product journeys, and combines this data with customer data to obtain valuable insights. RFID is also integrated with interactive technology, which can power magic mirrors, digital fitting rooms, kiosks, and digital sales venues to attract customers.
Retailers are achieving success through RFID clothing tag. Some of the companies recently mentioned in the news include Lululemon, a leading vertical competitive retailer, which has improved inventory and can now provide customers with a customer experience. Salespeople can find inventory without leaving the customer, thereby increasing sales. . It can also receive products within minutes, and can complete store-wide inventory in less than an hour.
Specialty retailer Rebecca Minkoff has launched a limited edition smart handbag with RFID tag. It not only is authenticated, but it also provides owners with loyalty program benefits and personalized promotions, as well as recommendations and invitations to private events. In addition, it uses smart mirrors, digital concierge walls and self-checkout functions to enhance the customer experience.
Leading department store chain Macy claims that RFID tag has a significant impact on sales and profitability, reducing stock outs by 50% and increasing revenue.
Obviously, the commercial benefits of RFID tag are huge. It can simplify the highly manual and labor-intensive processes in warehouses and stores for retailers to pick up, pack and receive, thereby achieving 99.95% inventory accuracy. Retailers can reduce out-of-stocks, increase sales, gain accurate visibility in real time, and a better customer experience.
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