A retail-tech company, Three Square Market, recently took the decision to microchip staff, allowing them to log into computers, open doors, and purchase items from the vending machines at the office using Radio Frequency Identification (RFID).
While there are concerns that this could be the start of surveillance like that in the Orwell novel Nineteen Eighty-Four, others see the microchip technology as having the potential to revolutionize the way we interact with the world around us, including the retailers.
RFID is not new to retail. In fact, 96% of retailers are already using or are planning to invest in the technology for their stores. By placing the technology in their product tags, retailers can manage stock levels and gain insights into consumer behavior, allowing a highly efficient inventory replenishment process and visual merchandising based on data. Macy’s has already seen 95% accuracy at its distribution center after introducing the tags and now plans to tag every single product.
But could the benefits of RFID in retail stretch even further? Three Square Market has demonstrated how human microchipping could work in everyday life, and paired with the way RFID is already being used in retail to increase efficiency and sales, it seems the benefits are boundless.
If the trend for human microchipping continues to grow, retailers could soon be improving the customer experience in-store through customer data stored on their microchip, and with 73% of consumers preferring retailers who use personal information to personalize their shopping experience, it’s not as far-fetched as it may seem.
The RFID microchip technology has the potential to simplify even the revolutionary concept of Amazon Go. Currently, customers have to ensure they have their smartphone and scan in using the app on entering the Amazon store. The RFID chip would mean simply walking in, picking up the required items, and walking out again.
So not only is RFID making a big wave in retail with the introduction of smart tags, but could revolutionize the way customers shop in the future.
So it looks like 2017 might surpass 2016 in retail innovation coming to the mainstream. Don’t miss your chance to find out how you can implement new innovative technologies to increase sales and customer engagement. Find out more in our latest eBook.