21 Dec Jewellery
Jewellery – online or in-store?
In sectors where quality and trust are essential in the decision-making process, there are times when shopping online doesn’t fulfil everyone’s needs.
For example, jewellery, there is no alternative to seeing the item that you are intending to buy and trying it on.
Customer loyalty is encouraged by the instore experience and service that well-trained staff can provide. Add to this the advantage of being able to display the product to its best advantage in a well-designed showcase which brings it to life and you have the ability to enhance the customer experience.
The need for a ‘wow’ effect
But there’s more to it, millennials for instance, are motivated by trends. This creates a need to add to the moment with experiential incentives such as creating blogging opportunities which are not as great with online shopping; an opportunity to share important occasions like the buying of an engagement ring.
Promotional periods such as valentine’s day also fall into this blogging category with easy theming possibilities.
Quality or price
High end watches are driving the luxury jewellery market with tourists to the UK playing an important role as they take advantage of the weaker pound. Travel retail is growing from strength to strength with the increased number of tourists who will make snap decisions on purchases whilst travelling.
As the divide between luxury ranges and the cost-conscious develops, consumers will also be looking for more value for money at the lower priced region where it is likely to become even more competitive.
Reinforcing the brand identity
The more mature of the millennial age range have greater spending power and form a large part of the jewellery sales demographic. They are making considered purchases that make a statement about long term commitment or romance. When targeting luxury sales, an area that demands greater individuality, trust becomes the overriding factor during the purchasing process.
Many of the luxury jewellery brands have become lifestyle brands, not only providing carefully crafted rings or necklaces but building their brands with high-end luggage and homewares. Instore this has developed into shop in shop environments devoted to consumers ideals, portraying a total image of affluence. A high-quality image would be hard to achieve and maintain with internet sales alone without the personal interaction.
Is display changing?
With personalised jewellery growing in appeal, it has become even more important to provide a method of display that increases the perceived value of a special purchase.
Greater use of technology is being seen in the form of monitors and showreels but traditional plinths and bust forms are still the main focus of every shop window.
Window displays, pulling people in-store
The suggestion is that both national and independent jewellery retailers will be allocating more of their window space to gold in the coming year; supported by a strong focus on dedicated fashion brands to add excitement to the store front.