Jeweller - April 2020

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10 Years Ago Time Machine: April 2010 A snapshot of the industry events making headlines this time 10 years ago in Jeweller. Historic Headlines Marketing assault for Bulova GIA launches virtual gem museum Grand Seiko goes international New labels for ‘synthetic’ diamonds Unrest at NCJV ACCC acts against retailer STILL RELEVANT 10 YEARS ON Bright Future: Coloured gemstones often provide a price-friendly alternative for shoppers... [There’s] a need to better educate consumers and retailers on the diversity of stones available and their various qualities READ ALL HEADLINES IN FULL ON JEWELLERMAGAZINE.COM Following an Australian Competition and Consumer Commission (ACCC) ruling against a Sydney jeweller, news emerged that the same jeweller received numerous warnings about potential breaches of the Trade Practices Act from the Jewellers Association of Australia (JAA). The ACCC ordered Sydney jewellery retailer Australian Opal Cutters to remove misleading advertising after the company repeatedly referred to ‘normal retail price’ in its promotions from December 2005 to March 2009. “The ACCC believes the market research did not provide a sufficient basis upon which a ‘normal retail price’ could be accurately determined or quoted,” ACCC acting chairman Peter Kell said. Ian Hadassin, JAA CEO, said, “The JAA encourages and supports discounting so long as the discounts offered are honest and real.” Insurance industry challenged The Jewellers Association of Australia (JAA) intends to raise issues relevant to jewellery with the Insurance Council of Australia as part of a raft of consultations it has begun with individual insurance companies across the country. Issues under investigation include how to educate jewellery retailers to best deal with insurance claims from a customer, as well as the possibility of breaches to the Trade Practices Act (TPA) by insurers, such as exclusive dealing. The JAA is also working on helping retailers to understand how price limits in insurance policies work. April 2010 ON THE COVER Skagen Denmark Editors’ Desk 1800-SALES-REP: “Boy, I wish I had a dollar for every time I’ve been asked, ‘Do you know a good sales rep looking for a job?’ I’d be a very rich man sitting on a beach somewhere... I learnt a long time ago that the person you want to employ is not the one looking for a job. ‘Good sales reps are rare,’ I often say, ‘and when they are good, everyone wants them.’” Soapbox The Magnificent Black: “If opals lose their place in the market, it won’t just mean a loss of sales, and therefore profits, for Australian jewellers; it will mean the loss of millions of dollars for the Australian economy… The miners, wholesalers and retailers of opal must come together and amass knowledge and money to start advertising and growing the market. Either that, or we can simply sit back and pray for it to happen.” – J-Peter Hooshmand, director Cosmopolitan Jewellers Nationwide braces for record payout Nationwide Jewellers has announced that it is expecting to make a record reward payment to members as part of the buying group’s 2020 annual conference at Port Douglas in June. Based on the expected record attendance, the group will be rebating in excess of $200,000 to members, according to managing director Colin Pocklington. The buying group has also announced plans to introduce a financial assistance scheme for apprentices employed by members of the group. Baselworld opens on a positive note In a marked contrast to last year, Baselworld was abuzz with confidence. Although cautious, organisers said there were positive signs as 1,915 exhibitors from 45 countries attended. The numbers were good news for Baselworld managing director, Sylvie Ritter. There was a net loss of around 30 exhibitors. “Baselworld is fully booked. We have the same number of exhibitors as we had in 2009 and this has remained unchanged for several years,” announced Ritter at the media conference. She called the 2009 economy “challenging” but predicted 2010 would “reveal a revitalised industry.” 14 | April 2020
INSIDE My Store The Diamond Shop AUCKLAND, NEW ZEALAND with Jemma Smith, marketing manager • SPACE COMPLETED May 2018 Who is the target market? The Diamond Shop’s target market varies greatly, from young women approaching milestones such as birthdays or graduation, to older couples looking for meaningful anniversary gifts for their significant other. The store interior is modern and minimal, which was influenced by our younger customers. However, it is also comfortable and welcoming; like stepping into someone’s home, you can happily stay for an extended visit and share a coffee or tea with us in our lounge area. This aspect greatly appeals to our customers who belong to older generations. Which features encourage sales? The minimal colour palette complements our products yet is subtle enough to truly let the jewellery and diamonds shine. The amount of space and lack of clutter allows the customer to really focus on the jewellery. The home-like feel also allows visitors to feel welcome and special. Meanwhile, the lounge area is a place where we can comfortably have in-depth conversations and gain our customers’ trust, which often progresses into a friendship. What is the store design’s ‘wow factor’? The striking light designs throughout the showroom capture many visitors’ attention. Their modern and minimal design represents The Diamond Shop conceptually, and they are the perfect cherry on the cake of our stunning space. Photography: Ross Honeysett April 2020 | 15
Page 1 and 2: VOICE OF THE AUSTRALIAN JEWELLERY I
Page 4 and 5: Manage every interaction with your
Page 6 and 7: In house self-winding movement, 40m
Page 8: Upfront #Instagram hashtags to foll
Page 11 and 12: Coronavirus forces drastic measures
Page 13: Furore as diamond prices fall; Rapa
Page 17 and 18: LEARN ABOUT Gems Synthetic Moissani
Page 19 and 20: GET PRODUCTIVE Retail Action List l
Page 21 and 22: FREE SUPPORT SERVICES FOR INDEPENDE
Page 24 and 25: STRATEGY FEATURE | Coronavirus Surv
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Page 28 and 29: INTERNATIONAL Trade Show Report WRI
Page 30 and 31: FEATURE Watch Industry Report WATCH
Page 32 and 33: TRENDS IN TIME | Watch Industry Rep
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Page 36 and 37: Product Showcase NEW RELEASE Adina
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Page 40 and 41: Watch Showcase NEW RELEASE Luminox
Page 42 and 43: BUSINESS Retail Strategy REAL REASO
Page 44 and 45: BUSINESS Selling Why repeat sales a
Page 46 and 47: BUSINESS Marketing & PR Simple and
Page 48: My Bench Steve Pallas Steve Pallas
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