For jewellers its important to think before you leap into the unknown.
As a new magazine, change has been at the heart of all we do at Professional Jeweller, and our content is obsessed with it.
Changing offers, changing businesses and how to keep up with a market that has been constatly changing have dominated our pages in the two years (to the March issue!) since we started out. But it is not always an easy sell.
I recently spent a brisk Saturday afternoon snug in a jewellers in Bath chatting to the manager about new developments in the industry, some of which he was reticent to accept or introduce to his store. His reason was not that he couldn’t see the benefits, just that they weren’t for him, his customers or the reputation of the shop.
As jewellers, customers put their faith in you to deliver goods of the quality you have promised that will offer a lifetime of value, and this is a heavy cross to bear when mulling over new avenues to go down to stay afloat.
Silver is perhaps one of the best examples of this conflict of change, and it is still evolving as jewellers who plugged the 9ct gold gap with silver are finding a fresh gap left by rising prices, prompting brands to scale down silver content or offer silver plate.
But the most important element of change is choice. You can choose to change to cater to the mass market cash cow or you can stick to fine jewellery principles and serve that smaller percentage of higher-value shoppers. While there has been much debate in the industry this month about the freedom to choose, it should be yours, and the only deciding factor should be what is best for your business, be that a traditional strategy or a fresh outlook.