Jeweller - June, Edition II 2020

THE FUTURE OF RETAIL | Lessons of the Pandemic
... CONTINUNED
“What have jewellers been doing during lockdown?
Michael Sobbi
LINDA & CO
DESIGNER
JEWELLERS,
NSW
“Things can
change with
a blink of an
eye. Have a
cash reserve,
and focus on
e-commerce.”
“[During isolation, we have focused the most
on] e-commerce and social-media marketing
– Instagram especially – doing a spring clean
of the store and workshop, sending [items for]
refining due to the gold price increase, building
relationships with existing customers and
conducting a big stocktake.
Most watch brands have provided trading so
we have been catching up on that, as well as
sales/management training – weekly meetings
on how to close sales.
[The key lesson we have learnt is that] things
can change with a blink of an eye. Have a cash
reserve, and focus on e-commerce.
We are lucky to be in Australia – I expected this
to be a lot worse. I think with the government
grants and strong online sales, we are riding
the wave to normality.”
Tony Peters
EXQUISITE
JEWELLERS,
ACT
“Beware of
the person
behind the
now sociallyaccepted
mask.”
“We have traded throughout the pandemic, but
with reduced hours.
Initially we allowed three persons in our
public space, then it was two. Instead of a
5pm close, we made it 3pm, and noon
Saturday instead of 1pm.
My assistant and I struggled to enforce the
safe distancing – patrons were impatient and
failed to comprehend the instruction, ‘Two
persons maximum’.
Beware of the person behind the now sociallyaccepted
mask.
[However] our opportunity to continue trading
was essential, as I was not prepared to inject
any finance into our store to stay afloat.
I ceased purchases, unless it was critical to
cover a sale, special order or repair. I was
entitled to JobKeeper for myself and a credit
on my BAS – this government assistance has
certainly helped.
Ben Manning
UTOPIAN
CREATIONS, SA
“Be prepared
– reduce
debts as much
as possible
and increase
e-commerce.
By supporting
local mining
and suppliers
you can
lower price
fluctuation and
supply risks in
difficult times.”
“[We have focused on] renovating our retail
store/workshop and e-commerce. Our
apprentice has been working on design
practice, but other forms of training weren’t
easy with our store closed.
We have been working hard to improve the
way our business functions, from improving
our POS system right through to renovating
our store and adding to our website. I think
time for [making] special pieces is a luxury
and an international pandemic that has forced
the closure of my business is not that time.
It’s an important opportunity to focus on the
things that will help my business succeed once
the country opens back up. If in another year
or two our order books are full and we have
hired more staff than we previously had, then
that may be the time to sit back and rejoice by
making something special.
[A key lesson from the pandemic is to] be
prepared – reduce debts as much as possible
and increase e-commerce. [The message I’d
like to send to the industry is to] support local.
We all, as retailers, ask our customers to buy
local and yet so often the materials that go into
jewellery manufacture and retail in Australia
are from overseas. By supporting local
mining and suppliers you can lower price
fluctuation and supply risks in difficult times.”
Gil Watson
CYBELLE, NSW
AND VIC
“I’ve been
brushing
up on some
of the new
gemstones
becoming
popular, as
I start to
stock them.”
My landlord gave me a $600 waiver on my
rent – equivalent to half my downturn in trade
for March. I passed on the deferment. It was
my intention to exit this industry during 2020 –
COVID-19 has not helped that ambition.”
“The most time has been spent on rephotographing
many of the jewellery pieces
on the website, especially those that were
put up in a hurry and didn’t get the full
‘glamour’ treatment, plus re-writing many of
the website descriptions to get them sounding
more interesting.
I’ve worked hard on the brand’s Instagram
image, and we’re now getting more visits to the
website that come straight from Instagram.
I’ve also done a stock-take and worked out
which items need to be given away as free gifts
to customers just to get rid of them, and which
old suppliers need to be purchased from again
because their items are perennial favourites.
And, I’ve been brushing up on some of the new
gemstones becoming popular, as I start to
stock them!”
52 | June 2020