With the increasing challenges in the retail industry, retailers realize the adoption of smart shelf solutions can boost their business efficiency and customer experiences.
FREMONT, CA: In recent years, the retail industry is actively embracing sensor technology for transformation. According to an article, the sensor technology is expected to expand and reach more than $35 billion by 2020. Modern-day retailers are using sensors to improve customer experience, reduce costs, drive growth, and increase overall business performance. Today, the sensor technology-based smart shelf experiences a rapid increase in popularity across the retail industry. Smart shelves devices use RFID technology to maintain the track of inventory. With the help of RFID readers, the smart selves are connected to the company's inventory tracking system.
• Inventories Upgradation
The most important benefit of the smart shelf is the instant alert feature to the retailer when any product is not available in the stock. The alert feature enables the retail staff to replace supplies from the stock room immediately so that sales are not missed. Smart shelves enhance the customer experience by preventing the consumers from turning up to buy something that is unavailable at the time.
• Loss and Theft Prevention
Smart shelving has the ability to distinguish between different items and inform staff where the customers have accidentally kept these unusual items. This ability prevents the retail items from being misplaced or lost while ensuring that all stock is registered and available for sale. Smart shelves can also be used to avoid theft. The smart selves can trigger alarms when an item is removed from the display shelf.
• Enhanced Inventory Management
The unavailability of products on the shelf is severe, but the unavailability of the stock on the premise is even worse for any retail business. By deploying smart shelves solutions to an inventory management system, the retailers can access real-time data about stock levels, which makes it easy to recognize when each item needs to be registered. The data generated by smart shelving helps retailers make informed decisions and improve their in-store facilities.
The rising competition level in the retail business space encourages retailers to adopt smart shelves technology and achieve numerous benefits. Smart shelf solutions prove to be the futuristic solutions to the retail business.