Innovative packaging company, Hatton and Spencer, has reduced its minimum orders in a bid to help jewellers still operating online while stores are closed.
Understanding this is a difficult time for jewellers, Hatton and Spencer will now offer customers fully-branded stock jewellery packaging with minimum order quantities as low as 10 on selected ranges.
Managing director, Cathie Osborne, says: “We hope that the jewellers we work with will be able to take advantage of this to bridge short-term gaps and that they can use it to help manage their cash-flow more tightly during this difficult period.”
As well as offering low MOQ options, Hatton and Spencer is also providing a consignment service, which allows customers to reserve packaging and pull-off stock in-line with changes to demand.
From last Monday the Hatton and Spencer office team have been working from home and communicating with video conferencing software for meeting internally and with clients.
The managing director says they are making the most of a bad situation and using their time to look to the future and help jewellers wherever possible.
Osborne explains: “We are looking at bringing customers new options that add value and hope to reinvent our offering for the ‘new normal’. This could be a massive window of opportunity for businesses to innovate; not just to reduce disruption but to bring in long-term operational improvements.”
She encourages jewellers: “While things may seem bleak at the moment, it’s important to remember that at some point the virus will subside and shoppers will eventually return to the high street. In China, just six weeks after the initial outbreak, stores are beginning to open again amidst a sharp fall in new cases. Many retailers – including luxury giant Hermes, and the country’s largest jeweller – are already reporting a ‘bounce-back’ as shoppers return to stores.
“Some analysts are even predicting a period of ‘revenge spending’ for China’s luxury sector, fuelled by a drive for luxury clients to begin buying again with cash saved from weeks of cancelled plans. While this is likely still a long way off for the rest of the world – there is a light at the end of the tunnel.”