One jewellery brand is betting big on independent retailers to carve out new niches for themselves in the near future, claiming that consumers will start favouring a more “personal” jewellery experience as early as this autumn.
Fei Liu, founder of Fei Liu Jewellery, told Professional Jeweller that while the jewellery industry should expect a “big” Christmas this year, “the high street is definitely facing huge challenges”.
“But these challenges,” he continued, “also offer some opportunities, particularly for the independent jewellery retailer.”
The founder believes that the British shopper is beginning to favour “more personal retail experiences”.
He explained: “They already value their personal trainer, personal hairdresser, or tailor. Now they need to embrace the old, sometimes forgotten concept of the personal jeweller.
“Independent retailers will become much more competitive if they provide this personal service to customers.”
Fei Liu, who has displayed jewellery to the Royal family and designed a tiara for Miss World, continued: “Successful retailing will become a personal journey of discovery when purchasing a piece of jewellery: the whole experience will bring more value to customers than a rapid, impersonal cold buy and sell, and create long-term customer loyality.”