According to Internet Retailer 8% of the companies they surveyed said they already use RFID (Radio Frequency Identification) and another 8% said they plan on using it in the near future. Big companies such as Walmart and Hewlett Packard use the technology that was developed in a crude form in the 1940′s during World War II. RFID is simple in theory, using a small chip and an antenna that is readable from a scanner up to 20 feet away. It is the replacement for the barcode and for good reasons. The tags contain the EPC (Electronic Product Code) as well as other information on the product. It’s use in warehouses will cause those companies to cut back on human labor, thereby cutting back on costs. It is currently not economically feasible for small to mid-size companies because chip prices are still too high. As chip costs drop to the $.01 – $.05 range, a larger range of companies will be able to afford and implement this rising technology.

This is just the tip of a large iceberg and I will go into further details in the days to come and how they will effect company’s marketing initiatives and business in general.