Reiss complete RFID roll-out in the UK, reporting a 4% sales increase as a result of increased stock accuracy.
British fashion retailer, Reiss, has reported a 4% sales increase as a direct result of the increase in stock accuracy from implementing an RFID solution. The upmarket high-street brand completed its roll-out of RFID in May last year, in partnership with both technology consultants Retail247 and RFID software specialists Detego. The solution has secured high levels of stock accuracy throughout the Reiss UK store network, resulting in better handling of inventory and increased sales.
This is the latest in a line of good news from Reiss. The retailer announced a 23% surge in sales in the first half of its financial year and was awarded the Fashion Retail Business of the year at the Drapers awards 2019. This success comes off the back of investment in the brand from Warburg Pincus & a fresh executive leadership team. In recent years Reiss has invested in its people, product and brand but have made a significant effort to strengthen their infrastructure. Their decision to utilise RFID using independent software house Detego’s IoT platform is a key part of this effort, with the inventory visibility and stock accuracy provided being a vital foundation for their future digital and omnichannel expansion.
Reiss partnered with fellow UK brand Detego, who develop and distribute a cloud-hosted RFID software platform for the fashion retail industry. Reiss and Detego began implementing RFID within stores in September 2018, using a gradual approach which finished with all 50 stores being live in May 2019. Reiss are already seeing financial results from utilising Detego’s cloud-hosted mobile application that delivers stock accuracy of up to 99% but plans for the technology don't stop there.
This high stock accuracy is a vital component for modern retailing, and Reiss are looking to use it as a solid foundation for future digital and cross-channel expansion. CIO of Reiss, Ian James, says: “We started looking at the in-store manual processes which our stores have to perform to do their daily or weekly stock count or to process in-store transfers, and warehouse returns – it was also around gaining visibility for our omnichannel journey. If you look at those as different challenges, RFID provided a solution that enabled us to use technology to enhance all that going forward.”