An old technology is solving the vexing problem of inventory management in omnichannel environments: radio frequency identification. The result is big market growth for RFID and a big ROI for retailers implementing it.
Walmart is out to improve the quality of product information available to consumers on the Internet—particularly from social media sources—with a supplier data collection program that will launch later this year.
The retailer has implemented a program called the Product Content Collection System to facilitate vendors sending their product catalogs to Walmart, and the product information will then be available online. Story
As more merchants master the art of omnichannel retailing, they benefit from a new phenomenon called 'reverse retailing,' or intentional showrooming. However, this has led to an increase in online security problems.
If latency in processing or fulfillment affects the online and in-store consumer, then it's a big risk for the company. "The risk is compounded with the complexity of integrated inventory, for example, where the consumer can check inventory in real time. If one system goes down, then it used to affect only traditional back-end processes such as warehousing. Now it affects the front end of the deal, so consumers are clearly aware," Bhargava told FierceRetailIT. Story
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Apple Pay is dead on arrival. Samsung Pay is delayed. CurrentC won't even get that far. EMV has negative ROI. Those are just a few of the story lines of the past few weeks. All seem to ignore one important point: this is very new stuff.
New research is out that shows 75 percent of retailers will not be in compliance with EMV chip cards by the October liability shift deadline, which is now three months away. This percentage is higher than in previous studies and comes shortly after the publication of a white paper from the EMV Migration Forum explaining the liability shift.
Home Depot's $1 billion growth in online sales last year—totaling $3.5 billion on the Web—was largely due to the home improvement chain's effective use of its stores.
Item-level radio frequency identification tags used for inventory control can deliver significant revenue uplift and double-digit return on investment depending on the category in which they are used.
Walmart is testing a new invisible barcode technology that could speed up the checkout process by 50 percent and help eliminate long lines.
Mobile point-of-sale systems are intended to roam free, meeting and checking out customers wherever they may be, but many merchants are anchoring the devices to the counter as a replacement for traditional POS terminals.
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