RFID technology: Predicting consumer behaviour and customer satisfation improvement with RFID data in retail industry

In the United States, Retail occupies the second place among the largest industries both in terms of the number of employees and in terms of the number of establishments countrywide. Worldwide it also occupies a prominent place among the biggest industries. Being a U.S. $7 trillion sector, the retail industry generates more than $3 trillion in retail sale annually and employs more than 22 million Americans. Wal-Mart is the world's largest retailer and as the world's largest employer with more than a million employees, Wal-Mart posted $219 billion in sales for fiscal 2001 and displaced oil giant Exxon Mobil as world's largest company. Due its ability to leverage its size, market influence and efficiency to create market domination, globally Wal-Mart has reached the position of a retail brand, which enjoys the most success. In the Fortune magazine list of top 500 companies in world, Wal-Mart is the leader. In the Forbes Annual List of Billionaires, the largest number (45/497) of them are from the retail business.