NEUHAUSEN, SWITZERLAND - Tyco Retail Solutions, a leading global provider of retail performance and security solutions, today announced positive results from its RFID pilot with Chico's.
With focus on innovation in the store and evolving its omni-channel retailing strategy, Chico's partnered with Tyco to address inventory accuracy and visibility challenges in 13 Soma Intimates pilot stores. Harnessing the power of Tyco's RFID-based Inventory Intelligence solution, Soma associates can now access accurate, real-time inventory information in one place to better manage their deep merchandise assortment and to drive increased sales and shopper satisfaction. Having this level of inventory accuracy fosters associate confidence to provide a better customer experience.
Chico's is dedicated to enabling customers to shop anywhere, anytime, and anyhow they choose. Having visibility to accurate and timely inventory availability is a mandate across all channels and locations to support omni-channel initiatives. Use of RFID technology by Chico's Soma stores provides visibility to items across all pilot stores and distribution centers, extending from store receipt to customer purchase, and through the exit door. Insight into all channels at all times helps ensure customer satisfaction and limits lost sales due to inventory discrepancies or lack of item visibility.
"Our core value remains consistent: provide the most amazing customer service," said Ken Silay, Director, Technology, Research and Innovation for Chico's. "Innovation is an integral part of our mission to create a great customer experience. With RFID-based inventory intelligence, we can enhance the opportunity to have the right product available at the right place, at the right time to satisfy our in-store and omni-channel shoppers. Increasing our inventory accuracy helps minimize lost sales and out-of-stocks, keeping our customers happy and associates more productive. On our journey we've discovered innovation is always in fashion."
Soma's store associates are passionate about the new RFID capabilities, empowering them to do their jobs more effectively and efficiently to deliver maximum customer service. The RFID initiative delivered compelling results in the pilot store group. Weekly full-store inventory counts enable Soma to maintain 90-95% accuracy every day so associates can easily fill in needed merchandise. Having his level of accuracy helps ensure customers will have what they desire when they want it and prevent shopper disappointment. Soma also gained insight into store loss prevention. Although shrink had not been a significant problem for Soma, with RFID read points at door exits, they gained insight to specific items lost, noting exactly when (and if) they left the store.
"As retailers strive to create the perfect shopping experience, they realize RFID's immediate benefits to combat mission-critical issues like poor inventory accuracy and visibility," said Nancy Chisholm, president, Tyco Retail Solutions. "An innovative retailer dedicated to superior customer service, Chico's understands the increasingly valuable role of RFID to achieve store excellence and gain unprecedented insight to fuel strategic decisions. We are grateful to partner with Chico's on this exciting technology initiative in their Soma Intimates stores."
By Arthur E. Michalak (arthur@koreaittimes.com)
