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RFID Boosts Digitization of Retail Industry

rfid label used in retail industry

The retail industry, also known as the circulation industry, is related to the national economy and people’s livelihood. It is the link and bridge between producers and consumers, just like the arteries and cash flow of the national economy.

Make a general survey of the development trend of China’s domestic retail industry, Internet giants led by Ali, Tencent, Baidu and JD have opened new retail eras.

According to Technavio, global UHF RFID is growing rapidly in the retail industry with a compound annual growth rate of 40%, making it the fastest growing market segment for all applications. The 2017 retail UHF RFID market was $1.57 billion in 2017 and is expected to reach $3.8 billion by 2020. The retail UHF RFID market has great potential.

RFID plays an important role in the digital transformation of new retail driven by technology. As the core technology of the Internet of Things sensing layer, RFID has the advantages of non-contact, long-distance, multi-label automatic identification, anti-counterfeiting traceability, large-capacity data reading and writing, and high data security.

Based on RFID technology and integrating other multi-perception technologies, big data and cloud computing, Yuanwang Valley has created a single-level ecological management system for the retail industry. By collecting production and manufacturing data, logistics supply chain data, and commodity and user behavior data of terminal stores, realized the digitalization of people, goods, and fields, and built a real-time and visualized business intelligence decision-making systems. To achieve lean management, reduce operating costs and improve the consumer experience.

In the aspect of intelligent manufacturing, RFID tags can be implanted into the commodity from the production source, which can realize the visual management of the whole process of production, and can also realize on-demand large-scale batch customization to achieve C2M flexible manufacturing.

In the aspect of supply chain logistics and warehousing, RFID systems can realize functions such as batch reading, efficient inventory, and automatic sorting, improve circulation efficiency, reduce supply chain costs, and reduce human error.

In the smart store, the application is more abundant. RFID technology can collect user behavior data (such as fitting, touch rate, etc.), RFID and video combined to achieve VIP customer management and remote patrol management; RFID bulk checkout, no need to scan code one by one, to achieve zero waiting for cash. In addition, you can also realize online ordering, offline search and pick-up, efficient and fast; real-time transfer management of surrounding store inventory and online and offline stocks.

All in all, the construction of the retail era is inseparable from RFID technology.

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