Recently NRF published their Fraudulent Returns Survey. Often we have talked about piracy, counterfeiting and other illicit activities. But here is a double dipper that hurts the whole economy: $3.6 or so billions is over $6B, if I have my facts straight—once, purchased by the store, and again, paid to thieves in refunds. This hurts the entire supplier chain. And I think of all those jobs that might have been created.
Figure 1: Source NRF 2010
With these types of losses, plus the pure cost of inventory inefficiencies and all the other data out there, one wonders why RFID is not a top priority now for retailers?
With the recent retail announcement by a few, to try tackling the RFID project again, it surely is a top priority for some.
I have not run the numbers, but it sure looks like an ROI in there for all. Let’s go innovate here!