There is Hope for Brick and Mortar Retail: A Time to Transform the Business Model

Abstract

In this new era of online, on-demand, omnichannel retailing, many brick and mortar retailers are worried. This is not too surprising, given that physical stores in the United States are closing their doors at a record pace. As of early April 2017, closings had been announced for more than 2,000 retail locations since the start of the year. That's more than twice as many as at the same point in 2016. In addition, Target has a lot of returns to process for online orders. Individually tracking items with RFID tags during the return process helps to trace inventory throughout the process. Target is using RFID technology to evolve the way it manages inventory-and change the return on investment of its business. Many retailers are using RFID stock management to enable true process improvements that directly impact the bottom line, going a long way to address the dilemma that many brick and mortar stores are facing. RFID can be the secret weapon needed for success in your store.