The integration and collision of RFID technology and future new retail

What is RFID?
RFID (Radio Frequency Identification), that is, radio frequency identification (hereinafter referred to as RFID). Simply put, an RFID chip is like a USB flash drive, which can store specific data and send out radio frequency signals. The receiver can capture the signal within a certain distance.

What is new retail?
In the future, online and offline retail and modern logistics will be deeply integrated. New retail should establish an "omni-channel (all-channel)" joint approach, with physical stores, e-commerce, big data cloud platforms, and mobile Internet as the core, integrating online and offline , Products, memberships, transactions, marketing and other data to provide customers with a seamless experience across channels. In fact, the concept of new retail is to allow the overall retail industry to serve consumers more efficiently.

What kind of integration and collision will RFID and new retail in the future have?
In July this year, Jack Ma's first unmanned supermarket settled in Hangzhou. The birth of the unmanned supermarket has changed the operating mode of traditional convenience stores and supermarkets, completely skipping the traditional cashier checkout process. And this take-and-go process seems simple, which involves the use of biometric autonomous sensing, learning systems, and sensor fusion technologies. Effectively solve the problem of consumer identification in the open space. And this innovative move, of course, is indispensable to the use of RFID technology.

The application of RFID makes the retailer's management of these parts more intelligent, informatized and automated. It frees people from a large number of daily mechanized repetitive tasks, avoids excessive dependence on labor, and greatly improves the efficiency of the daily management and operation of retail enterprises.

In fact, RFID technology allows retailers to manage inventory more accurately, enabling physical stores to reduce stock-out rates by 20% to 30%, increase sales by 1% to 2%, and allow retailers to lean production and reduce inventory. And to streamline the labor force, there is more room for play. Take the daily data inventory of a retail store as an example. The original manual operation may take a day or more, and its accuracy cannot be guaranteed. After the application of RFID technology, it can be completed in a few minutes or less. The categories are divided into categories. All data are recorded in detail.

In addition, RFID technology has unique advantages in terms of brand anti-counterfeiting, product traceability, and differentiated shopping experience (such as a faster shopping settlement process) brought to customers by RFID technology, and companies can also provide them based on RFID technology. Analysis of business trends and mining of purchase patterns based on detailed transaction data, to provide a reliable data reference for the formulation of future business strategies. It is believed that RFID technology will play an increasingly important role in new retail in the future.