Lack of customers biggest threat to 49% at UKJC

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CMJ members say footfall is main concern at UK Jewellery Conference.

Retailers at this year’s UK Jewellery Conference hosted by the Company of Master Jewellers (CMJ) stated that a lack of customers is the biggest threat to their businesses, after sharing their views in a digital vote.

Each conference attendee was given an electronic voting pad allowing them to share their opinions in real time.

When asked what the biggest challenge facing their businesses were, 49% of CMJ members pointed to a lack of customers and falling footfall, while 23% admitted a lack of robust industry data on buying and selling trends was holding them back.
19% said business rates were their main concern, with just 9% pointing to security issues.

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Conference attendees were also asked how recently they have undertaken a major or total shop refit with 49% saying the past year, 28% in the past five years, 9% in the past ten years and 14% more than ten years ago.

Following Engaging Service consultant Andrew McMillan’s presentation, guests were asked how they would rate the customer experience achieved in their stores. A confident 24% voted excellent, 47% declared their service good, 27% admitted it was in need of improvement, 2% said poor and 1% terrible.

In addition, when asked if retailers considered their business to be a brand in its own right, 89% said yes, 10% said no and 1% admitted they didn’t know.

Finally, when asked how important fashion trends are to retailers making buying decisions, 29% of voters said catwalk trends were crucial to their understanding. 54% expressed an interest in fashion trends, compared to 10% who said they only took a passing interest. Just 7% said the world of fashion is totally irrelevant to their business.

 

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