RFID Tracks Jewelry Sales

Fifty jewelry stores in the Middle East have begun using an RFID system designed to monitor the movement of each piece of jewelry. The system was designed by The Jewellery Store (TJS), a startup in Dubai, United Arab Emirates, specifically launched in October 2005 to develop and market the jewelry-tracking system. Other retailers throughout the world have shown an interest in the RFID solution, according to Gabriel Nasser, TJS' IT director. Currently, stores in the United Arab Emirates (UAE), Qatar and Bahrain are using the system, including showrooms of the multinational chain Damas Jewellery.
Jewelers in the Middle East have a special incentive to implement an RFID inventory-tracking solution. The jewelry industry there is dictated largely by the price of gold, Nasser says. For example, a gold chain's value depends strictly on its weight. Because of that, insurance costs can rise and fall with the fluctuations of the price of gold. When that price rises, Nasser says, many Middle Eastern stores can be forced out of business, unable to pay the additional cost of keeping that jewelry in their inventory.
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