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Omnichannel And IoT: The Perfect RFID Storm
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BrightTALK
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Today’s Panelists
Richard Mader Director Emeritus, ARTS
Debbie Hauss Editor-in-Chief Retail TouchPoints
MODERATOR
John-Pierre Kamel Principle, RFID Sherpas
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What Does RFID Look Like?
• Usually involves a handheld reader
• Rapid cycle counts of inventory
• Number of counts depends on product category, Use Cases
• Does not need to update inventory…but should for best results
Photo Source: Motorola
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RFID SoluCon Components
Paper Ticket Adhesive Label Hard Tag Sewn-‐In Label
RFID Readers
RFID Tags
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A Quick Recap Of Item Level RFID in Recent Years
• Item level projects picking up steam
• TesWng new categories, focused on replenishment
• Department Store focus
2008 -‐ 2010
• Omni-‐Channel is a driver of RFID adopWon
• Display compliance drives fast ROI
• Expansion beyond replenishment into jewelry
2010 -‐ 2012
• Round Rock Patent issues resolved
• Companies open up about successes
• Expansion into Fashion
• Luxury segment growth
• UpWck in European deployments (e.g. Asda, Decathlon, M&S)
2013 -‐ 2014
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2008-‐2012
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2008-‐2012
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2013-‐2014
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2013-‐2014
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“ImplementaWon of this next-‐generaWon technology is one of the most significant changes ever in how the Group’s stores operate.” Pablo Isla Chairman & CEO July 2014
2013-‐2014
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Latest News from Macy’s (2014)
• RFID-‐enabled departments outperformed controls by 10% from 09-‐2013 to 05-‐2014
• Advanced program beyond Replenishment and into several Fashion categories
• Timely replenishment of the sales floor is now an objecWve, in addiWon to inventory update
• The ability to make single unit SKUs available to online shoppers has been a big win in Omni-‐channel
• Decreased the number of undisplayed SCCs in the Footwear and Luggage to under 5%, compared to 25-‐30% pre-‐RFID
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RFID’s Appeal To Retailers
• Margin contribuWon from increased Full Price Sell-‐Through
• Margin contribuWon from higher Unit Sales • Reduced shrink (internal & external) • Labor producWvity improvements • Less working capital Wed up in Inventory • Repurposing of Loss PrevenWon budget dollars • Aligns with Omni-‐Channel, Mobility iniWaWves
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RFID in Retail
• Long Wme coming, since late 1990’s • Cost vs. Benefit – Shortage – Out of stock
• Other prioriWes • Y2K • E-‐commerce
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The Silver Bullet
Consumer Centric Retail
And
Omni Channel
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Omni Channel
Serving the customer as they desire. • Features: – Buy on line, pickup in store (44% to 58%) – Buy in one store, ship from another (Urban Ouji=ers)
– Buy items in store plus items via on-‐line device in store and pay one sale
– Fulfill E-‐commerce order from stores.
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Why Omni Channel
• John Lewis experienced a 22.6% increase in on-‐line sales during Christmas 2013. AccounWng for 31.8% of total Christmas sales as click and collect orders were up by 61.8% over previous year. (ComputerWorld.com)
• Macy CEO Terry Lundgren said at Goldman Sachs conference this month that they can ship direct to customers from all stores, and that pick-‐up in store results in 125% of intended order. (MarkeWng Daily)
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Omni Channel CriWcal Success factor
• Nearly 100% accurate item level inventory • Cannot disappoint the Customer – Drive to store purchased item not available – Buy on line never receive at home
• It can happen (THD example) • Cost of buffer stock offsets sales gains What level of risk are you willing to accept?
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SKU Inventory Accuracy
• Industry average approximately 70% – Thanks to Bar codes for sales recording.
• RFID can improve to 95+% – 98% per Checkpoint – 27% improvement per RFID Research Center
Assume 100 customer store pick ups, RFID changes 25 of these to these
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SKU Inventory Retain Accuracy
• Physical Inventory – Auburn University 20,000 items per hours using RFID vs. 500 via barcodes.
• Staff Discipline – Train processes – Monitor to enforce
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Key RFID Use Cases
Within The Four Walls • On-‐Floor Availability
– Display Compliance – Reduce Out-‐of-‐Shelf
• Asset ProtecWon
Outside of the Four Walls • Out-‐of-‐Stocks • Eliminate Frozen Inventory • Planning and AllocaWon
• Omni-‐Channel Support • InteracWve Retail • Inventory Accuracy • ReducWon/EliminaWon of
Manual Stock Counts
• AnW-‐CounterfeiWng • AnW-‐Diversion • Supply Chain Visibility
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• Increase the “universe of product” you can make available across all channels – Reduce buffer stock as low as possible for In-‐Store Pick-‐up and Store-‐to-‐Store transacWons – Significantly decrease decline rates of Fulfill-‐from-‐Store transacWons, thereby decreasing split ships and extra labor of searching in mulWple stores
Enhances Omni-‐Channel
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Enhances Omni-‐Channel
– Increase Store-‐to-‐Store orders by ensuring all available SKUs/SCC are displayed for sale, even if it is a onesie
– Can significantly compress the window between purchase and pickup
– Accuracy enhances mobility capabiliWes and allows for more efficient locaWon based selling and alerWng
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Internet of Things (IoT)
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IoT Value to Retail
• 1.76 Trillion less than 50% realized (Cisco) • OpportuniWes – Omni order and pay anywhere – Intelligent pricing (Shelf labels) – Product movement – Equipment monitor and control – Tailored promoWons – Customer service (Wi-‐Fi in store)
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Concerns
• Privacy • Mobile and RFID, NFC one standard? • AcWve Tags, $2 vs. $.05 • Self driving cars
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Things I’d Like (TiL)
• Find my “stuff” (Tile) • Clean out the “Frig” • InstrucWons for use
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Q&A
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Q&A Debbie Hauss Editor-in-Chief Retail TouchPoints
MODERATOR
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Today’s Panelists
Richard Mader Director Emeritus, ARTS
Debbie Hauss Editor-in-Chief Retail TouchPoints
MODERATOR
John-Pierre Kamel Principle, RFID Sherpas
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Thank You For Joining Us
The next session in this series…
10 Ways To Personalize The Holidays 12PM ET / 9AM PT
ccs.retailtouchpoints.com/holiday-2014