Jeweller - December 2020

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OPINION Soapbox There are many e-commerce opportunities for retailers – and suppliers are here to help With the acceleration of e-commerce during COVID-19 lockdowns, the time is right for retailers to integrate and invest in this side of their business, writes JOHN ROSE. A successful online presence has become an increasingly important part of any jewellery retailer’s business. To allow customers to browse and shop at your store wherever they are, and whenever they wish, exponentially increases the potential for sales. E-commerce has changed dramatically over the past 10 years, and so has consumer behaviour towards online purchasing. Gone are the days where consumers went online simply to get a bargain. Most sites offering cheap products are not trusted and have lengthy delays in delivery of the product, without any ability to talk to anyone about delivery times, defects, returns, etcetera. Customers do not want that. The three main reasons why customers buy online today are convenience, trust and speed. Consumers, especially Australians, prefer to buy from a trusted source that they know. This is why Amazon has had a far more difficult time making an impact on the Australian market than it has overseas. People are shopping from their desk during their lunch break, on the bus, before breakfast, late at night – whenever it is convenient for them to do so. So, how can jewellers capitalise on this ‘new normal’? As a supplier to the jewellery industry, West End Collection gets a lot of feedback from retailers. Sell-out reports show major retail operators selling seven to 10 times more of our brands through their online store than they do in their largest flagship store. Why is this? It comes down to those three factors of convenience, trust and speed. Customers know that they can quickly and easily buy a quality product online from a trusted retailer that, should there be a problem, they can talk to directly and drop in to see should the need arise. That part is critical: consumers want to buy from a retailer they recognise, that has a real presence here in Australia, and that they can easily contact for customer service. The greatest advantage that physical stores have over purely online stores is their loyal existing customers, with whom they often have a personal relationship. So, in order to succeed, an online presence should be an extension of the bricks-and-mortar store. You don’t need to spend thousands of dollars chasing potential customers, trying to convince them to buy from you. The easiest way to build your web sales is to entice your existing walk-in customers – not through discounts, or special offers, but with the convenience of online shopping. Starting an online store is quick, easy and inexpensive – there are services such as Shopify which do all the work for you. The monthly rates for these services are competitively priced and the extra features available allow you to add more functions to encourage sales. To make the process even simpler, suppliers – including West End Collection – often offer digital integration with your website, which allows you to upload batches of watches and jewellery to your website at the click of a button. West End’s ‘Integrator’ service also connects directly to our warehouse and automatically updates retailers’ websites when an item is out of stock, or when a new item becomes available. Many of our retailers are also offering drop-shipping, which means fewer sales are lost due to The greatest advantage that physical stores have over purely online stores is their loyal existing customers, with whom they often have a personal relationship. So, in order to succeed, an online presence should be an extension of the bricks-andmortar store lack of stock. When an order comes in for an item that’s not in store, the retailer simply ‘pushes’ the delivery on to the supplier, which then ships the item directly to the customer. The other benefit to retailers of having a quality website is being able to offer a broader range of products than they could carry in-store. If a customer is in the store looking for a particular piece of jewellery or a specific watch, the retailer can simply show them the item on the website. If the customer likes the item, it can easily be ordered and be sent to the store – no lost sale. While it may seem counterintuitive, customers often like to talk to someone while they are browsing the retailer’s website. This creates a genuine personalised shopping experience and allows them to ask for advice and guidance before they make their purchase. Further integrating the online-offline sales process, retailers can use programs such as Podium which allow them to send a text message to the customer while they are in-store, or after an online sale, prompting them to leave a Google review. These positive reviews boost the retailer to the top of Google searches and add to their online credibility, leading to more sales. Making a website an extension of a physical store is now becoming the standard, and there are many clear benefits for retailers. Name: John Rose Company: West End Collection Position: General manager Location: Melbourne, VIC Years in Industry: 23 66 | December 2020
RETAIL TRADE DAYS COMING IN 2021 to a city near you! ewellery • TRADE DAYS • Gift Jewellery • TRADE DAYS • BRISBANE SYDNEY PERTH ADELAIDE February 13 – 14, 2021 Brisbane Convention Centre Southbank February 20 – 21, 2021 ICC Sydney Darling Harbour March 13 – 14, 2021 Perth Convention & Exhibition Centre March 20 – 21, 2021 Adelaide Showground We are ready to get back to business and recognise the importance to reconnect quickly and efficiently. Introducing the Retail Trade Days, giving wholesalers an easy and affordable opportunity to connect with local retailers, easy access to an event, with a cross section of suppliers in their own state. The Retail Trade Days will be a marketplace of leading jewellery suppliers, all trading from a trestle table with a maximum cap of 2 tables. It is designed to ensure that participants focus their offer on samples of their latest new releases, or dead stock they are looking to clear. With exhibitor packages starting at only $1,100, don’t miss out on bouncing back with these intimate and local focused events. Get in touch! If you have any questions, or want to secure your involvement contact the team at Expertise Events. Phone: (02) 9452 7575 Email: jewelleryfair@expertiseevents.com.au Organised by: Est. 1990
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VOICE OF THE AUSTRALIAN JEWELLERY I
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Australian Argyle pink diamonds are
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Baumatic self-winding calibre, 40mm
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DECEMBER 2020 Contents This Month I
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Editor’s Desk Listening to the he
Page 17 and 18: Proudly distributed by 02 9417 0177
Page 19 and 20: Ethical Colombian Emeralds direct f
Page 21 and 22: Louis Vuitton purchases a second la
Page 23 and 24: Pandora launches holiday marketing
Page 25 and 26: For your free copy of the Peter W B
Page 27 and 28: INSIDE Now & Then Fairfax & Roberts
Page 30 and 31: Completing my Diploma in Gemmology
Page 32 and 33: CELEBRATING Local Talent LUCAS BLAC
Page 34 and 35: Proudly distributed by (02) 9417 01
Page 36 and 37: BACKGROUND STATE OF THE INDUSTRY RE
Page 38 and 39: STATE OF THE INDUSTRY | Chains thro
Page 46 and 47: STATE OF THE INDUSTRY Brand-Only St
Page 48 and 49: L to R: Rolex; Omega IN SUMM A RY C
Page 50 and 51: Swarovski is also interesting. Of t
Page 52 and 53: STATE OF THE INDUSTRY Buying Groups
Page 54 and 55: STATE OF THE INDUSTRY | Buying Grou
Page 56 and 57: STATE OF THE INDUSTRY | Buying Grou
Page 58 and 59: BUSINESS Strategy Survival lessons
Page 60 and 61: BUSINESS Selling Six simple and eff
Page 62 and 63: BUSINESS Marketing & PR How to eval
Page 64 and 65: My Bench Leon Raper Australian Diam
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Jeweller - December 2020

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