What: Accenture released a research report on RFID and its growth within retail.

Why it is important: RFID takes a long time to pilot and implement, but research reveals that RFID technology is enabling omnichannel services and driving value.

The bi-annual study conducted by Accenture reveals that the use of RFID in North American retail is booming with 93% of store chains saying that they are using RFID. In 2020, more retailers are investing in RFID technology as e-commerce continues to fuel adoption. RFID is a major factor to contributing to real-time supply chain visibility, which is needed to support processes like store fulfillment and BOPIS.

Accenture says the research also found that retailers that have engaged with suppliers on source tagging are seeing a higher ROI (16% higher) than those that have not.

Despite the mostly good news on the adoption front, the report notes many retailers still don’t make it past the pilot stage. Such companies report that their greatest struggles and roadblocks are quantifying the value of RFID, identifying the right suppliers and partners, and having the ability to train employees.

RFID in Retail