Jeweller - October 2022

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Editor’s Desk Australian-made: is homegrown better? It took almost 100 years, but Australian-made products and services surged in popularity during COVID. Is homegrown better? ANGELA HAN explores the findings. Australian consumers have always had a 'casual' relationship with its own brands, and it could stem from Australia’s early colonisation period when most products were imported and felt to be superior to any locally made counterparts. But there was indeed a time where it didn’t mean much for a product or brand to be ‘Australian’! Even attempts by the government to convince consumers to support Australian manufactured products had mixed results. One only need look to cars, where sales declined to such an extent that we lost our entire vehicle manufacturing industry. While Bob Hawk famously launched the triangular green and gold kangaroo logo to support ‘Australian Made’ in 1986, the truth remained that the merits of buying Australian made had been promoted by the government since Federation, and various manufacturing organisations had been championing the cause since the 1930s. It was a complex matter in an increasingly complex world. Sure, it was easy to tell Aussies to buy ‘Australian Made’ – but that meant little when the time came for people to open their wallets. Then the COVID-19 global pandemic changed circumstances overnight. We know that the catastrophe changed the average buyer's behaviour forever, some of it being caused by consumers having little or no choice in the matter when global supply chains were disrupted. Delivery delays meant that consumers were left to visit shops the 'old fashioned way' to pick up items even if it cost them a little more. 'Shop local' was no longer a philosophy, but a necessity. Surveys also support the fact that consumers are increasingly choosing Australian made products to support local businesses. According to Commonwealth Bank, more than 50 per cent of Australian shoppers want to buy locally sourced and produced products. But the question must be asked: Are shoppers still buying Australian-made 'post-pandemic'? A study by research firm Roy Morgan published this June shows the preference for Australian-made goods have remained strong over the last year and that it should continue to remain in-demand; it reported that a majority of Aussies are more likely to buy Australian made products in the coming 12 months – far ahead of products made in any other countries. Commenting on the findings, Roy Morgan CEO Michele Levine explained that Australian-made goods have easily remained as the preferred preference. “A nearly unanimous 96 per cent of Australians say they are more likely to buy a product that is marked as ‘made in Australia’, unchanged on a year ago. In comparison, less than 1 per cent of Australians say they are less likely to buy a product that is ‘made in Australia’. “Support for buying Australian-made goods shot-up during 2020 and the first year of the pandemic and has remained high ever since as the closure of international borders and restrictions on travel during the last two years has clearly boosted the attraction of buying locally made goods. The research echoes similar findings by the Commonwealth Bank’s inaugural Consumer Insights Report in May which pointed out that “more Australians are choosing to shop locally, supporting local online retailers and manufacturers as well as suburban shopping centres and neighbourhood stores.” While it comes as no surprise that the Sure, it was easy to tell Aussies to buy ‘Australian Made’ – but that meant little when the time came for people to open their wallets. preference for Australian made food and groceries is uppermost given they must be consumed fresh, various findings indicate that this preference also extends to fashion (58 per cent), and recreational goods (59 per cent). Also interesting to note that in a different study conducted by Power Retail, 40 per cent of consumers said that cheaper overseas alternatives would deter them from purchasing Australian made, even though it is an important criteria in their decision-making process. The July study goes on to note: “But you know what comes in equal second place … That nothing would deter them from buying Australian made [which means] that when the products are available, consumers are pretty keen to purchase Australian made (although pricing and range of products does come into play for some).” If these studies truly reflect consumer sentiments, then this augurs well for the Australian economy, and should be great news for local jewellery retailers and suppliers, particularly those who source, design and manufacture on home soil. After all, there is great beauty and a bounty of resources available to the Aussie jeweller. In our own backyard we've got access to the world's most covetable diamonds, white iridescent pearls, opals and vibrant sapphires – 'Australian-made' at its finest. Our latest October report on homegrown jewellery brands reveals the ways in which local suppliers have honed their strategy during the pandemic to focus on servicing the unique needs of Australian retailers and consumers. Explore with us: what did these industry outliers do differently for their brand to thrive, and what makes them quintessentially Australian? Angela Han Publisher October 2022 | 11
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Jeweller - October 2022

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