RFID technology is a technology that has been developed to help small enterprises such as the ones selling clothes boost their sales and improve their inventory keeping techniques. However according to recent surveys many enterprises are yet to adopt the technology. The reason behind this slow adoption is that most retailers are afraid of change and fear adopting this new technology while others are not aware of the existence of RFID. It is estimated that only 8% of the apparel business have incorporated the use of RFID systems that has tags, barcode readers and sales software.
The low percentage in the adoption and use of the technology is attributed to the fact that most of the retailers in the apparel business only want to test the program but not to use it. Another reason is that most of the retailers are conservative thus resistant to change. They want to keep on maintain the old order and way of doing things.
One fundamental reason as to why the adoption of the technology has been relatively slow is because of the high cost of installation of these systems. Retailers are discouraged from installing this technology as is eats into their meager profits. However RFID technology companies are working towards developing new systems that will be affordable.
Due to advancements in technology, many people today are now turning into online shopping. As a result the demand for RFID technology by apparel retailers is on the rise. The technology companies therefore have a chance now to boost their sales by developing systems that are cheap, easy to install and operate. In addition the RFID tech companies have come up with sales and marketing strategies that will help increase awareness of the technology and its significance.
Sawyer Howitt is a young entrepreneur who has the ability to understand the financial and operational needs of a business. Sawyer is a second semester senior and has spent the better part of his studies and internships in learning more about business and finance.
Sawyer joined Meriweather Group in 2017 as an intern and was given the role of a project manager. As a project manager he has been working on projects that aim to revolutionize the commerce industry and those that integrates the use of technology in businesses.