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Jeweller - April Issue 2018

INSTYLE WATCHES Kaiser

INSTYLE WATCHES Kaiser said back in 2016. “The ability of the salesperson to key in on the emotional part of the purchase is in many cases just as important as the technical aspects of the timepiece itself.” Staff must also be equipped to counter an all-too-common sales rejection: that consumers don’t require watches when they have mobile phones. The best way to do this is to entice shoppers to physically try on watches of interest. “Phones do tell the time but nothing will ever replace the feeling of having a beautiful timepiece on your wrist,” Gretchen Mathews, senior vice president of human resources at watch retailer Tourneau, said in the same article. Faraday also offers some advice for capitalising on the desires of younger generations. “Choose models that are in line with the current fashion trends,” he says. “Keep your range looking fresh and always have something new and exciting to catch your customers’ eyes.” FOR THE ‘GRAM Employing some simple social-media techniques can do wonders for watch sales, and a good place to start is by taking inspiration from some of the big watch names. Last year, Omega marketed its latest watch on Instagram and then created its own hashtag – #SpeedyTuesday – so that consumers could upload images of their purchases or search directly for the watch. The simple strategy paid off as the watch reportedly sold out within four hours! Local retailers could use similar marketing ideas to improve the visibility of their latest HIPP offerings. After all, as Faraday explains, social media continues to be “very influential” for shoppers. “Consumers are more aware of the concept of a fashion watch and are matching their watches to their outfits and changing them in line with the season,” he says. Garber agrees with these sentiments. “Social and digital media has had a huge influence on consumers buying fashion watches,” she adds. “Influencers, celebrities and consumers love to share their watches on social media; consumers follow these fashion influencers to stay up to date with the colours and styles trending globally and buy into these new styles.” Keeping track of what consumers are following on social media isn’t the only strategy retailers should be employing to boost watch sales. Instead, Sceats advises those seeking additional inspiration to take notice of what’s on the fashion runways. “Look to the more fashion-forward parts of the market to determine what styles are the focus of international icons. These styles will usually trickle down the market but leave their influence in many ways, such as sizes, colours, simplicity or bling,” Sceats explains. “Look for new styles that are wearable but have features that will attract the eye of passing consumers. By adding some colour and imagery to the store windows, you will attract customers more than by just showing the same conservative styles you have been selling for several years,” she adds. Trends may come and go but consumers continue to maintain a healthy appetite for fashion watches. With a few savvy techniques, retailers can ultimately gain the upper hand in this robust sector. i Exclusive Distribution by hiPP.com.au in AU & NZ info@hiPP.com.au | 1300 132 522 (NZ 0800 65 4477)

COLOURED DIAMOND REPORT BOLTON GEMS WORLD SHINER ELLENDALE DIAMONDS True COLOURS WITH CONSUMERS INCREASINGLY SAVVY ABOUT WHITE DIAMONDS, COLOURED DIAMONDS CONTINUE TO OFFER RETAILERS A BETTER MARGIN. ALEX EUGENE REPORTS ON THE BEST WAY TO TAKE ADVANTAGE OF THESE HIGHLY-PRIZED STONES. here’s a scene in the film Titanic where Kate Winslet’s character Rose sits for a seductive nude portrait, wearing a 56-carat blue diamond, strung upon a chain of white diamonds. The fictional gemstone, known as ‘the heart of the ocean’, is a replica of the famous Hope Diamond, a 45.52-carat stone reportedly stolen from an ancient statue in India, and subsequently blamed for the misfortune that afflicted its various owners. According to myth, the Hope Diamond is cursed, but this hasn’t stopped it from enchanting the collective consciousness of gemstone lovers since the 17th century. History is abundant with intriguing tales of coloured diamonds, which have only become more popular over time. A HISTORY OF LOVE Whether invention or fact, many of the greatest love stories have involved coloured diamonds. “There has traditionally been a romance associated with coloured diamonds and this has always attracted a premium in their pricing,” says Gersande Price, sales manager at Ellendale Diamonds. “There is no fixed price for exceptionally fine coloured diamonds.” Brett Bolton, Director of Bolton Gems confirms this is the case: “Consumers believe price is secondary to finding the right stone for them. Colour is more of an incentive.” Add to that the dwindling supply of some colours, notably Australian pink, and say hello to one of the most lucrative products available to jewellers. “Despite producing 95 per cent of the world’s pink diamonds, the Argyle mine’s total pinks production is under 1 per cent, and with the upcoming closure in two to three years’ time, Argyle pink diamonds are a unique West Australian sensation around the world,” says Price. Miri Chen, CEO of the Fancy Color Research Foundation (FCRF) says that fancy-colour diamonds are so rare and beautiful they have become a serious investment opportunity. “Out of all diamonds in the world, only a fraction of a percent actually show special colours and are entitled to being called fancy-colour diamonds,” she says. Maulin Shah, director of World Shiner says, “Demand is increasing for the pink diamonds; they are very unique. People are buying Argyle diamonds for investment.”