Omnichannel And OoT: The Perfect RFID Storm
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2014 Holiday Connected Consumer Series session presented by Zebra Technologies #HolidayCCS
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Omnichannel And OoT: The Perfect RFID Storm
- 1. Omnichannel And IoT: The Perfect RFID Storm Presented by Sponsored by
- 2. About Holiday CCS 2014 ü 7 Webinars, 4 Days ü Sessions covering Store Ops, X-Channel, Loyalty, Big Data & more #HolidayCCS ü Featuring industry analysts and consultants ü Free for Retail executives http://ccs.retailtouchpoints.com/holiday-2014
- 3. Follow The Webcast On Twi=er #HolidayCCS #HolidayCCS @ConnectConsumer @RTouchPoints
- 4. About Retail TouchPoints ü Launched in 2007 ü More than 28,000 subscribers ü Provide executives with relevant, insightful content ü Free Resources such as White Papers, E-book, Webinars, Research and Podcasts www.RetailTouchPoints.com #HolidayCCS
- 6. Today’s Panelists Richard Mader Director Emeritus, ARTS #HolidayCCS Debbie Hauss Editor-in-Chief Retail TouchPoints MODERATOR John-Pierre Kamel Principle, RFID Sherpas
- 7. What Does RFID Look Like? #HolidayCCS • 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
- 8. RFID SoluCon Components #HolidayCCS Paper Ticket Adhesive Label Hard Tag Sewn-‐In Label RFID Readers RFID Tags
- 9. A Quick Recap Of Item Level RFID 2008 -‐ 2010 #HolidayCCS in Recent Years • Item level projects picking up steam • TesWng new categories, focused on replenishment • Department Store focus 2010 -‐ 2012 • Omni-‐Channel is a driver of RFID adopWon • Display compliance drives fast ROI • Expansion beyond replenishment into jewelry 2013 -‐ 2014 • 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)
- 14. #HolidayCCS “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
- 15. Latest News from Macy’s #HolidayCCS (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
- 16. RFID’s Appeal To Retailers • Margin #HolidayCCS 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
- 17. #HolidayCCS RFID in Retail • Long Wme coming, since late 1990’s • Cost vs. Benefit – Shortage – Out of stock • Other prioriWes • Y2K • E-‐commerce
- 18. #HolidayCCS The Silver Bullet Consumer Centric Retail And Omni Channel
- 19. #HolidayCCS 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.
- 20. #HolidayCCS 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)
- 21. #HolidayCCS 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?
- 22. SKU Inventory Accuracy • Industry #HolidayCCS 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
- 23. SKU Inventory Retain Accuracy • Physical #HolidayCCS Inventory – Auburn University 20,000 items per hours using RFID vs. 500 via barcodes. • Staff Discipline – Train processes – Monitor to enforce
- 24. #HolidayCCS 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
- 25. Enhances Omni-‐Channel • Increase #HolidayCCS 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
- 26. Enhances Omni-‐Channel – Increase #HolidayCCS 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
- 27. Internet of Things (IoT) #HolidayCCS
- 28. #HolidayCCS 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)
- 29. #HolidayCCS Concerns • Privacy • Mobile and RFID, NFC one standard? • AcWve Tags, $2 vs. $.05 • Self driving cars
- 30. #HolidayCCS Things I’d Like (TiL) • Find my “stuff” (Tile) • Clean out the “Frig” • InstrucWons for use
- 31. #HolidayCCS Q&A
- 32. Q&A #HolidayCCS Debbie Hauss Editor-in-Chief Retail TouchPoints MODERATOR
- 33. Today’s Panelists Richard Mader Director Emeritus, ARTS #HolidayCCS Debbie Hauss Editor-in-Chief Retail TouchPoints MODERATOR John-Pierre Kamel Principle, RFID Sherpas
- 34. Thank You For Joining Us #HolidayCCS The next session in this series… 10 Ways To Personalize The Holidays 12PM ET / 9AM PT ccs.retailtouchpoints.com/holiday-2014