Selling jewellery is quite obviously the number one business objective of every jeweller out there, but the success with which that is achieved often depends on getting a whole host of operational factors right.
From the most engaging product marketing and photography to the slickest online experience and after-sales care, choosing the right suppliers and partners can make or break the bottom line.
As jewellers navigate the Christmas rush and begin to turn their attention to what 2021 might have in store for retail, plenty will be evaluating the changing landscape around them and wondering how they can improve different aspects of their business.
We therefore caught up with four companies that offer a selection of specialist services to the jewellery trade – and all of which are leaders in the field – as part of a special ‘Business Essentials List’ guide highlighting organisations that can add genuine value to the jewellery sector.
You can view each of those interviews and find out more about the companies in question here:
Partnering with companies that know the jewellery trade inside-out will be vital for retailers in 2021 following a period of significant change in the wake of the coronavirus pandemic.
The Oxford English Dictionary recently published its annual Word of the Year report, except that this year there was a twist because there were so many words worthy of the title that it decided to rebrand the promotion as ‘Words of an Unprecedented Year’, so that it could include a number of news-driven terms such as Covid-19, lockdown, circuit-breaker and moonshot.
If there was a jewellery version of this you could certainly find plenty of words or phrases that would stake a claim to be included. Kerbside collection, virtual showroom and clienteling are three that instantly spring to mind.
This is a year when brick and mortar stores became overpriced collection points for four months as the government responded to concerns over Covid with non-essential retail closures across all nations of the UK.
Kerbside collection and virtual showrooms may well fizzle next year, hopefully consigned to the past along with Zoom calls and web-based product launches. Clienteling, though, is here to stay, not least because luxury boutique owners have been heading towards it for several years.
Clienteling is a recognition that, at the top end of the jewellery market, there are comparatively few customers whose repeat business is critical to commercial success.
These customers do not necessarily demand special treatment, but they will certainly take their loyalty elsewhere if they are not delighted with a retailer’s quality of service.
Clienteling means building and maintaining professional and/or personal relationships across generations, and the finest proponents in this country — Boodles, Berry’s, Laings, Pragnell, to name a few — are masters.
Bond Street brands like Piaget, Chopard and Cartier are trying to close the gap on the multibrand jewellers who know their local customers best, which means clienteling is becoming a competitive race.
Trends like clienteling represent significant sales- and strategy-based challenges that jewellers need to overcome.
They can do so safe in the knowledge that specialist partners are there to support all the other important pillars that are so vital to success.