Full implementation of RFID technology has long eluded retailers, but the rising importance of omnichannel sales increased the technology’s ROI.
Dive Brief:
- Macy’s will RFID tag all store merchandise by the end of 2017, the RFID Journal reported recently.
- The use of RFID tags improves inventory accuracy by 32% and decreases out of stock item incidents by 50%. As a result, sales increase by 18%, Retail Wire said last week.
- RFID implementation continues to grow among retailers. Retailers used 5 billion RFID tags in 2016, but that number is expected to rise to 7 billion by 2017, according to IT Jungle.
Source: Macy’s: Inventory will be 100% RFID-tagged by 2017 | Supply Chain Dive