Harvard study shows better performance for retailers

WARRENTON, Va., July 05. 2022 (GLOBE NEWSWIRE) — With 75% of retail customers who have used buy online and pick up in store (BOPIS) saying they are likely to make an additional purchase, this presents an opportunity for businesses to increase their sales and revenue as long as they stay up to date with their inventory and keep customers informed of how much of a viewed product they currently have on hand. A leader in Radio Frequency Identification (RFID) technology, SimplyRFID offers an affordable, turnkey solution for businesses to get started and run with daily and weekly inventory, obsoleting their slow, manual tracking processes.

According to the Harvard Business Review: “To better understand the impact of a BOPIS omnichannel strategy, they analyzed 49 million online and in-store transactions from a national retail chain before and after a competitor launched a service BOPIS (this research was all conducted before They found that the company’s sales fell 4.7% online and 1.8% in-store, and the decline in in-store sales was greater the more a store was close to one of the competitor’s BOPIS locations. By launching BOPIS, the competitor was not only stealing the company’s online sales, but also its in-store traffic.”

SimplyRFID offers retailers the benefits of rapidly improving efficiency and reducing costs by automating processes, providing accurate inventory, and improving asset utilization and quality, which is important to note because nearly 50 % of customers also indicated that they made additional in-store purchases while picking up the item they ordered online.

Omnichannel support helps drive more sales and traffic to a business. According to Aberdeen Group, companies with a strong omnichannel strategy see their annual revenue increase by 9.5%. SimplyRFID’s $2,500 turnkey inventory system makes omnichannel support a reality for everyone.

“SimplyRFID helps prevent customer churn by providing our customers with the ability to quickly and accurately track inventory and better navigate the global omnichannel environment,” said SimplyRFID CEO Carl Brown.

SimplyRFID and GDS host a panel discussion on how accurate inventory management with RFID is key to a successful omnichannel strategy. Learn more here.

About SimplyRFID

Learn more about getting accurate inventories and how it positively impacts all areas of business. Visit www.simplyrfid.com for more details or contact Eric Richmond, Director of Customer Services, at: [email protected] or [email protected] for more information.

Contact information

Dan Johnson
[email protected]

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