Jeweller - February 2022

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The Great Retail Reset | BUYING GROUPS REPORT WHAT'S IN STORE GROUP STRENGTH DURING THE PANDEMIC; REAL-LIFE EXAMPLES If there was ever going to be a time that the value of being a member of a buying group was on display, then COVID-19 was it. One of the main reasons for joining a group is strength in numbers. Jeweller asked the groups to provide examples of how they helped specific members, and how members benefited in the past two years of the pandemic.. We have provided more than 100 members with personalised email responses to their landlords who were reluctant to provide the correct rent relief under the code issued by the National Cabinet. In fact, we recently had a member whose lease expired during the rent relief period, and the landlord required them to enter into a new lease at a higher rental. We provided a letter, with references to the appropriate sections of the legislation, pointing out that the existing lease term had been automatically extended by the number of months of rent deferral. With varying compliance issues from each state and country, we have guided members with significant HR concerns and assisted in resolving these situations. The impact of COVID reduced a few members from breakeven trading levels to a loss situation. Using our industry-specific trading and benchmarking system, we identified that the best course of action for this member was to close the business and move to a more profitable location. We also provided free support and advice for this member and helped establish the new store location with free marketing and promotional assistance. One of our newer members who weren’t able to travel to Antwerp because of COVID was still able to participate in our Antwerp Diamond Broker program ‘virtually’. They were successful in pre-selling more than $40,000 of Antwerp diamonds and also achieved a significant increase in their overall diamond sales, which they would not have been able to achieve otherwise. Our marketing team provided several members with free marketing material for their stores and digital platforms, providing advantageous promotion for the business during these difficult times. This included our Powerpoint customer presentation on ‘The Path of Diamonds’, to assist our members in establishing themselves as the expert on diamonds within their community. SHOWCASE SHOWCASE JEWELLERS We’ve distributed approximately $3 million in cash flow to members over the past two years to support Showcase stores amidst the challenges of operating a small business during a pandemicinduced economic downturn. Some of our members have experienced struggles related to rent negotiations and reductions made necessary from lockdown effects on business operations. Showcase has been involved in this process with several members, bringing about a positive outcome in many cases. We are thrilled to see our members’ businesses not only survive but prosper in these unprecedented times, with many members recording some of their strongest growth in many years despite the pressures presented by restrictions and lockdowns. Over the past two years, we have brought stores together via clever communication and have hosted monthly Zoom sessions from ‘day one’ of the pandemic. Industry experts were introduced to the group relevant to what was happening in the industry at the time. We then recorded the sessions and sent them to all stores as a video record with notes and attachments and we have also conducted staff interviews for stores and sat in as advisors on many aspects of their business. IJC subscribes to several retail management networks and have provided our stores with key updates during every phase of the pandemic and introduced experts in leasing, marketing, customer journey and HR to assist stores. We also work closely with members ‘behind the scenes’ to review their expenses, overheads and stock-ranging and are continuously assisting them to maintain a healthy bottom line. We produced several marketing campaigns for the stores to use as they see fit and we have a very strong digital marketing team, that have set up all stores with eCommerce, Social Media support and Database Communication strategies. One of the biggest challenges during the pandemic has been supply and delivery issues. Leading Edge has been able to use our stock warehouse to support members over the past two years when required. Consignment stock always helps when cash is a little scarce, so this has been a great benefit for some of our members to alleviate some of the pressure. We have had the ability to draw advice and experience from many different retail categories and deliver savings and opportunities to members, which can’t be found elsewhere. This, alongside being able to offer a product that supports all the basic stock requirements of a store, is unique in the market. Our team also ensured personalised support to all members throughout the pandemic as we tried to work with them on their specific needs to maximise their sales - whether it be sourcing specific products for them to creating billboards to help sell their items. The marketing team created close to 100 local and national campaigns over the past 12 months to support members through this time, and our IT department has worked one-on-one with stores to optimise their websites and ensure their e-commerce platforms are performing optimally. 46 | February 2022
WHY JOIN SHOWCASE JEWELLERS? AUSTRALIAN PINK DIAMONDS IN HOUSE LOOSE DIAMOND INVENTORY BEST SUPPLIER DISCOUNTS ALL PROFITS RETURNED TO MEMBERS WEBSITE MANAGEMENT CENTRAL BILLING CUSTOM CATALOGUES DIGITAL MARKETING & DESIGN Supporting Independent Jewellers for over 40 successful years MEMBER OWNED JOIN US If you are interested in exploring Showcase Jewellers and how we can help grow your business, contact us today: enquiries@jimaco.com (02) 8566 1800 www.showcasejewellers.com.au NO JOINING FEES SHOWCASE JEWELLERS
Page 1 and 2: VOICE OF THE AUSTRALIAN JEWELLERY I
Page 3 and 4: Helping you shine yesterday, today
Page 5 and 6: We’re celebrating all things cust
Page 8 and 9: Step outside of your business and..
Page 10 and 11: #FUNFURLA FURLA.COM EXCLUSIVELY DIS
Page 12 and 13: Upfront #Instagram hashtags to foll
Page 14 and 15: OUR TEAM IS HERE TO SUPPORT YOU: To
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Page 24 and 25: News EST. 1981 EST. 1981 EST. EST.
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Page 28 and 29: A Tribute Laughter and legacy: trib
Page 30 and 31: On The Market 1 2 3 4 5 FEBRUARY Pr
Page 32: 10 Years Ago Time Machine: February
Page 35 and 36: REVIEW Gems Part II: Synthetic Diam
Page 37 and 38: BILL HICKS DESIGNS 'Twisted Rose' R
Page 39 and 40: 2022 PARADIGM SHIFT | The Great Ret
Page 41 and 42: 2022 PARADIGM SHIFT | The Great Ret
Page 43 and 44: THE GREAT RETAIL RESET Buying Group
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Page 49 and 50: THE COMPLETE PACKAGE Supporting Aus
Page 51 and 52: Business Strategy For example: Offe
Page 53 and 54: BUSINESS Management The global pand
Page 55 and 56: BUSINESS Logged On How user experie
Page 58 and 59: OPINION Soapbox Resetting the jewel
Page 60: Being nature’s most precious wond

Jeweller - February 2022

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