Jeweller - August 2020

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From our inventory, to yours... BECOME AN OFFICIAL STOCKIST Due to an increase in enquiries from retail customers, we are upgrading the online presence of our stockist function on our website. It’s another way O’Neils Affiliated are trying to keep the Australian Jewellery industry vibrant and busy in the face of overseas and online sales. Please visit www.oagems.com or call our friendly team on 03 9654 5200 for more information.
BEST OF BUSINESS Feature Navigate the future of customer relationships by embracing technology As online shopping increases, STEVEN VAN BELLEGHEM says that customer relationship remains an important driver of loyalty – and retailers can boost it by understanding consumers’ digital expectations. Customer relations are in transformation and pre-sales, sales and after-sales are changing at high speed. Companies need to figure out the current customer journey, the role of self-service, their data strategy and much more. A few years ago, this author conducted a global study on the future of customer relationships in collaboration with datacollection company SSI and translation agency No Problem! The study investigated all aspects of a modern customer relationship and the highlights were as follows: Adoption of new technologies Rogers’ Adoption Curve is a concept by a communications studies professor named Everett Rogers that seeks to explain how, why and at what rate new ideas and technologies spread. Rogers first published the concept in 1962 in his book The Diffusion of Innovations and the curve is well-known – every manager, marketer and entrepreneur refers to this body of thought from time to time. He divides adopters into five categories: innovators, early adopters, early majority, late majority and laggards. People are more aware than ever before of the newest products and models as soon as they hit the market, and never has the public been so awake to the possibilities that are coming their way. Furthermore, the intention to buy these new products is high, a position that sharply contrasts consumers’ approach to new technology a few decades ago. In studies from the early 1990s in which respondents were asked about their intention to buy a mobile phone someday, the most popular answer was a firm ‘No!’ Some 25 years later, that sentiment has changed completely. This is how it usually went with new concepts: the ‘average Joe’ or Rogers’ so-called ‘early majority’ failed to see the point of most new technology. Yet reactions today are very different. For instance, 66 per cent of people say they are interested in buying a smart TV one day, one in two are actually looking forward to the introduction of smart cars, Never underestimate the impact of real people. Human contact is crucial in most customer relationships, even in the digital world smart shoes and refrigerators are slightly lower down on the wish list but the idea of a smart thermostat is very popular. Today, a mobile phone has become just another fast-moving consumer good (FMCG) and the average consumer replaces their smartphone every 18 months – one wouldn’t have to travel back in time too far to find a generation who had the same home phone for 18 years! Things are moving quickly indeed. The classic Rogers’ Adoption Curve probably still exists, although its upward or downward tilt is probably slightly more pronounced than before. Life is faster nowadays, not only in the introduction of new technologies but the obsolescence of outdated ones. The rise of digital offline Traditional retailers are afraid of ‘showroomers’, the shoppers who look around their stores and ask staff for expert advice only to go home and order the product online. This fear is justified: a study has shown that 46 per cent of Americans have been August 2020 | 41
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Jeweller - August 2020

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