Matthew Stephens, Limerick’s largest jeweller, has seen its revenue from ear piercing rise to €5k per week, less than a year after introducing the service to its offering.
Since partnering with Inverness Ear Piercing Lounge in November 2019, the store now pierces on average 100 ears a week, bringing in revenue of between €4k and €5k and securing repeat custom from visitors looking to then invest in new earrings.
The Inverness Ear Piercing Lounge provides a safe, sterile and hypoallergenic environment for piercing and opens up a lucrative revenue stream for the retailer.
Speaking to PJ, managing director Matthew Ryan said that the store has become a ‘destination for the curated ear’ trend and is reaping the benefits of providing the new service.
Ryan says: “We probably pierced about 25 ears the first week that we opened and now we average between 80 -100 customers a week at an average spend of €50.00.
“Our target is to scale up to be piercing 150 – 200 customers a week within the coming months and I think the way things are going, we are on track to do it.
“For us there are two revenue avenues that come from ear piercing,” he continues. “Number one, is the revenue it brings in; there are 100 piercings a week, adding up to €4,000 – €5,000. Number two, there are then the 100 customers who return in six or 12 weeks after the piercing to treat themselves to a beautiful new earring or pair of earrings.
He adds: “There is the benefit of the added sales from the piercing and earrings in the weeks that follow, but it also brings a lot of footfall into our fashion level, which is home to shop in shops by Swarovski, Thomas Sabo, Carat, Alex & Ani, Ti Sento, Diamonfire and most recently, the curated ear brand, Lavz. As a result, it has brought a lot of new customers to the store who have also purchased from some of the other brands.
“We’ve now become a destination for all things ‘Curated Ear’; earring sales are booming at the moment.”
To read the full interview with Matthew Stephens jewellers, make sure you grab the new issue of Professional Jeweller, out next week.