RFID technology: improving efficiencies and creating a better customer experience in retail industry

The word Retail originated from the old French word tailler, which has got a meaning of “to cut off, clip, pare and divide” in tailoring parlance (1365). As a noun the word was first recorded with the meaning of a “sale in minimal quantities” in 1433 (“piece cut off, shred, scrap, paring” from the Middle French retail). As in French, the word retail means selling of items in minimal quantities in both German and Dutch. Retail is the process of making profit by selling services and/or consumer goods to customers through multiple distribution channels. Diverse target markets and tactical promotion created demand, catering to consumers’ needs through a lean supply chain. In the 2000s, much of retailing is done online with payment through electronic gateways and delivery of goods is done through postal mail or courier. Retailing includes delivery also, which are called subordinated services.