When it comes to running a business, problems like stock shrinkage & theft become an ever-present risk. Whether it is shoplifters or your employees swiping small items from the inventory.
That is why many jewellery businesses have started implementing better & advanced security measures within their stores. And what is more innovative, yet simpler than RFID tags?
What are RFID Jewellery Tags?
RFID stands for Radio Frequency Identification, in simpler terms, RFID tags work by relaying data, like location, specifications, time of sale, etc of a product.
All RFID systems have some basic components to them – RFID Chip, Reader & Software. The reader sends out radio waves within a certain range using an internal antenna. These waves power up the RFID tags which then start to transmit the data back to the reader. The reader receives the data in binary form using an antenna & then the software converts the information into readable format.
This all happens in a blink of an eye and allows you to have real-time information on the status of your items within the store.
Best Ways of Implementing RFID Tags for Jewellery Stores
There are different types of Jewellery tags that you can use, depending on your product & type of business. The key to a profitable business is information, & that is precisely what the RFID jewellery tags will provide you.
So, let’s discuss how implementing this technology will benefit your business.
1) Tracking & Security
The most important aspect of implementing RFID technology is security. Jewellery is an expensive product, that is very easy to peddle & difficult to track once it’s out of the store. Not only that but it can be easily melted down & reformed without losing its value.
Therefore, it is paramount that you always know the status & location of your product inside the store. By implementing RFID sensors at the billing counter and all the exits, you will be alerted anytime someone tries to take an item without paying for it.
In addition to that, many stores use integrated RFID readers under the jewellery display. This way, whenever an item is removed from the display case, it is logged into your database. Thus, providing you with the real-time location of all your items.
2) Make Inventory Management More Efficient
It can be a hassle to manually manage inventory for hundreds of small items. Using RFID tags can potentially save you countless hours that you’d have wasted on this, by making inventory management much quicker.
All you need to do is, at the end of the day just scan the RFID tags on the jewellery items using a reader & the software will update your inventory database. For tags that relay information in real-time, your RFID system will collect all the information regarding every item, throughout the day, and constantly keep updating your inventory log.
3) Increase the Speed of Your Sales
RFID tags contain all the useful information about your items, like – Name, Specifications, Price, Location, etc. This makes it far easier for your employees to guide your clientele with their desired items and to finish the billing process quickly.
4) Gain Insight into Your Business
The access to all the information regarding sales of your items in real-time, allows you to have a keen insight into the demand & popularity of each one of your items. This provides you with the ability to plan your inventory & stock volume for the future.
5) Cut Cost & Improve Your Profitability
As we discussed above, integrating RFID jewellery tags allows you to not only prevent any unnecessary loss due to theft. It also allows you to increase the speed of your sales, which means that you can make more sales & also improves your image in front of your clientele.
In addition, it also helps you in cost-cutting by removing many time-consuming activities like manual inventory management, allowing your employees to focus more on sales& revenue.
Disclaimer: The information presented here is for general information purposes only and true to best of our understanding. Users are requested to use any information as per their own understanding and knowledge. Before using any of the information, please refer to our Privacy Policy and Terms and Conditions.
