Myndar’s “Smart Tag” Technology Poised to Transform Jewelry Retailing
A new partnership between Hong Kong–based Myndar Americas and Pac Team Group’s PT Next technology division was recently announced, bringing Radio Frequency Identification (RFID), or “smart tag,” technology to the jewelry industry.
Myndar, a company specializing in IoT devices and solutions, has created a reportedly unprecedented approach to RFID. As opposed to the traditional bar code, which needs to be scanned on an individual basis, smart tags may be read simultaneously, allowing retailers to efficiently take the inventory of an entire store within minutes, while also offering product and brand information in real time.
Through its partnership with Pac Team Group’s PT Next, a global point-of-sale leader for the industry, Myndar is able to “infuse [its] technology seamlessly within retail environments and fixturing without disrupting the brand’s visual presentation,” according to a press release.
“We are thrilled to be partnering with Myndar to bring this revolutionary RFID technology, specifically for the jewelry and timepiece industries, to the United States and provide customized solutions and local support in the Americas,” president of PT Next and Pac Team Group Eric Zuckerman tells JCK. “This is a natural fit for our group, as we are increasingly able to provide our clients new opportunities to make their POS smarter and provide them invaluable insight and control.”
In addition to offering an RFID solution that’s tailored for use by the jewelry industry (unlike past products, which had trouble reading tags through metal), Myndar has also developed a presentation tray embedded with RFID technology designed to offer retailers invaluable point-of-sale data.
“The tray recognizes when items are out of the case and if one is floating,” Zuckerman says. “Anyone in retail knows keeping track of product and who’s holding it can be frustrating. This data is being captured and stored. I can see this bracelet keeps coming out of the case but nobody’s buying it—before I just knew nobody was buying it.”
Along with the new partnership, Zuckerman announced the hiring of retail technology expert Michael Villanueva as senior systems architect for PT Next. Villanueva brings years of IT experience, including 15 years of designing and deploying technology solutions and RFID for Neiman Marcus.
For more information, visit myndaramericas.com.