Jeweller - December 2022
• The Past: Reviewing the thoughts of industry leaders • The Present: Find out what's on the minds of jewellers today • The Future: Should you abandon an industry staple?
• The Past: Reviewing the thoughts of industry leaders
• The Present: Find out what's on the minds of jewellers today
• The Future: Should you abandon an industry staple?
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY DECEMBER <strong>2022</strong><br />
What do<br />
jewellers<br />
The Past<br />
REVIEWING THE THOUGHTS<br />
OF INDUSTRY LEADERS<br />
The Present<br />
FIND OUT WHAT’S ON THE<br />
MINDS OF JEWELLERS TODAY<br />
The Future<br />
SHOULD YOU ABANDON<br />
AN INDUSTRY STAPLE?
AUSTRALIA'S PREMIER DIAMOND SUPPLIER<br />
SINCE 1986<br />
You need it?<br />
We have it.<br />
RENOWNED FOR AUSTRALIA'S LARGEST RANGE OF<br />
PREMIUM NATURAL WHITE & COLOU R DI A MONDS<br />
ROUND BRILLIANTS & FANCY CUT<br />
– READY FOR PRE-CHRISTMAS DELIVERY –<br />
LARGE SELECTION OF NATURAL DIAMOND JEWELLERY<br />
INTRODUCING LAB-GROWN DIAMONDS<br />
OVERNIGHT DELIVERY<br />
Stones and jewellery in stock to arrive at your doorstep overnight<br />
LAB-GROWN DIAMONDS<br />
Premium cut lab-grown diamonds with no tinge<br />
Fancy-cut lab-grown diamonds (single or calibrated)<br />
Parcels and melee available with hearts and arrows<br />
P +61 3 9650 2243<br />
E SALES@ADTC.COM.AU<br />
L13/227 COLLINS STREET<br />
MELBOURNE VIC 3000<br />
ADTC.COM.AU
Helping you shine<br />
yesterday, today<br />
& tomorrow.<br />
YOUR LEADING SUPPLIER OF PINK ARGYLE, WHITE DIAMONDS & DIAMOND JEWELLERY<br />
worldshiner.com
SAMS GROUP<br />
AUSTRALIA<br />
Sapphire Dreams now stocks certified, inscribed, sustainably sourced Australian<br />
Sapphires. Australian sapphires are unparalleled, ranging from deep blues, teal and<br />
green, to vibrant orange and yellow and the sought-after Parti. We offer single stones,<br />
matching pairs, and an array of sapphire melee in a myriad of shapes, sizes & colours.<br />
SINGLE STONES<br />
MATCHED PAIRS<br />
CALIBRATED MELEE LINES
Apply for wholesale access via QR code or call our friendly team 02 9290 2199
Info@LJWestDiamonds.com | www.LJWestDiamonds.com | www.ScottWestDiamonds.com
To schedule an appointment, please contact us:<br />
L. J. WEST DIAMONDS INC. | 589 5th Ave, Suite 1102 | New York, NY 10017, U.S.A. | T +1 212 997 0940<br />
L. J. WEST AU PTY LTD | Level 9, 225 St Georges Terrace | Perth, WA 6000, Australia | T +61 40 997 6981
A little sparkle is<br />
Always Essential.<br />
LAB DIAMONDS AS LO<br />
Over 5000 diamon<br />
Short and long term memo<br />
TENNIS BRACELETS PROGRAM<br />
STUD EARRINGS PROGRAM<br />
IGI Lab Cert#<br />
Shape<br />
Weight<br />
Col/Clar<br />
Cut<br />
Polish<br />
Sy<br />
2.0 CT TW<br />
$999<br />
7.0 CT TW<br />
$3599<br />
3.0 CT TW<br />
$1499<br />
8.0 CT TW<br />
$3999<br />
ALSO AVAILABLE IN 9, 18, 27 & 54 BUNDLES<br />
All Bracelets 14K White Gold, 14K Yellow Gold or<br />
14K Rose Gold Classic 4 Prong Wire Basket<br />
532262069<br />
538298440<br />
546203529<br />
536203375<br />
537226089<br />
544241551<br />
544251410<br />
547247800<br />
1 CT TW 508153075<br />
488122981<br />
$399 537239025<br />
537241163<br />
534262651<br />
3 CT 508153090 TW<br />
533218868<br />
$1999<br />
534246755<br />
496199301<br />
533218746<br />
536289998<br />
536294116<br />
4.0 CT TW 5.0 CT TW<br />
1.5 CT TWBR<br />
2 2.6 CT TW<br />
BR 2.43<br />
$1899 $2799<br />
$599 BR $999 2.39<br />
BR 2.34<br />
BR 2.29<br />
10.0 CT TW<br />
BR 4 CT TW2.2<br />
$5499<br />
BR<br />
$29992.23<br />
BR 2.1<br />
BR 2.03 D-SI2<br />
ALSO AVAILABLE IN 9, 18, BR 27 & 54 BUNDLES<br />
2 F-VS1<br />
BR 2 F-SI1<br />
All Studs 14K Yellow Gold or BR 14K White 2.01 Gold F-SI2<br />
Screwback 534262493 or Martini BR Pushback 1.61<br />
536290826 BR 1.51<br />
534239437<br />
512232285<br />
542238092<br />
514288883<br />
544251864<br />
PR<br />
PR<br />
PS<br />
EM<br />
EM<br />
2.27<br />
2<br />
3.02<br />
5.35<br />
5.15<br />
Build-a-Bundle<br />
544280364 EM 5.13<br />
523207685 CU 2.26<br />
524250727 CU 2.19<br />
532263074 RAD 5.03<br />
529259545 RAD 2.07<br />
528227217<br />
HS<br />
HS<br />
2<br />
2.05<br />
Pick your carats, pick your pieces.<br />
508151963 AS 3.54<br />
537216532<br />
539218526<br />
544252123<br />
OV<br />
OV<br />
OV<br />
4.02<br />
4.02<br />
3.73<br />
Pick any carat and combination of 544241572 pieces from OVstud<br />
3.01<br />
earrings, tennis bracelets, solitaire rings and pendants.<br />
22 W 48th St, New York<br />
Build your own bundle for Essential savings.<br />
Call: (212)-764-7841 | Email: sa<br />
Website: www.sanghavisolitaire.<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
BR<br />
5.01<br />
5.02<br />
3.51<br />
3.47<br />
3.3<br />
3.21<br />
3.11<br />
3.07<br />
F-VS2<br />
G-VS1<br />
F-VS2<br />
E-SI1<br />
F-VS1<br />
G-VS1<br />
F-VS1<br />
G-VS1<br />
G-SI2<br />
E-VS1<br />
F-VS1<br />
E-SI1<br />
G-VS1<br />
F-SI1<br />
F-SI2<br />
E-VS1<br />
F-VVS2<br />
G-VVS2<br />
G-VS1<br />
G-VS2<br />
G-VS2<br />
E-VVS2<br />
E-VS1<br />
E-VS1<br />
E-VS1<br />
F-VS1<br />
E-VS1<br />
G-VS2<br />
F-VS1<br />
G-VS2<br />
H-VS1<br />
F-VS1<br />
G-VS2<br />
G-VS1<br />
G-VS1<br />
EX<br />
ID<br />
EX<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ak<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
EX<br />
EX<br />
EX<br />
ID<br />
ID<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
Only need one? <strong>Jeweller</strong>y available for individual purchase.<br />
» All Diamonds F – G Colour<br />
» SI1 – SI2 Clarity<br />
» IGI Certify <strong>Jeweller</strong>y for $50 more<br />
SCAN QR CODE FOR<br />
THE FULL PROGRAM<br />
22 W 48TH ST, NEW YORK, NY 10036, USA<br />
CALL: +1 (212)-764-7841 | SALES@ELGDIAMONDS.COM<br />
WWW.SANGHAVISOLITAIRE.COM/HOME/DAILYSPECIAL
mmetry<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
Discount%<br />
SCAN THE<br />
QR CODE<br />
TO SEE OUR<br />
INVENTORY<br />
LAB DIAMONDS AS LOW AS -98.20% OFF!<br />
Depth%<br />
-95.50 62.7<br />
-95.25 IGI Lab 60.8 Cert#<br />
-96.10 60.2<br />
-94.50 61<br />
-96.50 551209449 62.4<br />
-96.70 550256073 61.5<br />
-96.60 551209384 61.2<br />
-96.60 551209388 62.5<br />
-95.75 62.9<br />
550256828<br />
-96.40 62.1<br />
-96.75 551288935 62.4<br />
-96.20 516261139 61.4<br />
-96.75 551290475 61.5<br />
-96.20 544252118 61.3<br />
-96.20 62.1<br />
549<strong>2022</strong>60<br />
-96.50 61.4<br />
-95.25 542297487 62.5<br />
-96.60 550268924 63.1<br />
-96.20 546220361 59.7<br />
-96.00 544252141 63.1<br />
-96.60 62.4<br />
544252138<br />
-96.40 61.8<br />
-96.00 544253610 71.8<br />
-95.75 546231356 73.2<br />
-95.25 536276973 61.9<br />
-97.75 544273459 65.5<br />
-98.00 62.2<br />
533214760<br />
-97.90 64.5<br />
-96.00 533214950 68.5<br />
-96.50 555291078 62.9<br />
-97.25 551293657 61.7<br />
-96.75 551291770 68.4<br />
-95.75 60.9<br />
551207434<br />
-95.75 62.8<br />
-96.50 555265160 63.7<br />
-95.00 542295386 62.2<br />
-95.25 538202732 63.6<br />
-95.25 533214836 64.1<br />
-95.50 63.4<br />
555265136<br />
536206219<br />
523289930<br />
499105024<br />
476165288<br />
537250233<br />
555265162<br />
553217345<br />
551216376<br />
551287226<br />
, NY 10036, USA<br />
les@elgdiamonds.com<br />
com/Home/DailySpecial<br />
SCAN THE<br />
SCAN THE QR<br />
QR CODE<br />
TO CODE SEE OUR TO SEE<br />
INVENTORY<br />
OUR INVENTORY<br />
W AS 97.75% OFF!<br />
Lab Diamonds as low as 98.20% off!<br />
ds on hand<br />
programs available<br />
Over OVER 5000 5,000 diamonds DIAMONDS ON HAND. on hand<br />
SHORT AND LONG-TERM MEMO PROGRAMS AVAILABLE.<br />
Short Table% Total$ and long term memo programs available<br />
56.5 $11385.22<br />
59.5Shape<br />
$12041.72Weight<br />
61 $4038.26<br />
58.5 $4771.25<br />
57 BR$3869.25<br />
5.52<br />
59 BR$3071.97<br />
5.01<br />
59 BR$3542.29<br />
4.73<br />
57.5 BR$3027.02<br />
4.19<br />
55 $1359.15<br />
BR 3.7<br />
57.5 $2055.78<br />
57.5 BR$1708.85<br />
3.51<br />
57.5 BR$1556.10<br />
3.48<br />
58.5 BR$1451.29<br />
3.34<br />
59 BR$1362.68<br />
3.27<br />
56.5 $1118.57<br />
BR 3.18<br />
59.5 $1727.25<br />
58 BR$1456.02<br />
3.08<br />
56.5 BR$1496.00<br />
2.69<br />
61.5 BR$1238.80<br />
2.44<br />
55.5 BR$1061.28<br />
2.48<br />
57.5 $947.00<br />
BR 2.39<br />
58 $815.40<br />
70 BR$1407.40<br />
2.28<br />
75 BR$1232.50<br />
2.18<br />
60.5 BR$2940.72<br />
2.04<br />
61.3 BR$7102.12<br />
2.09<br />
65.5 $5768.00<br />
PR 2.04<br />
64.5 $6018.98<br />
64.5 PR$1627.20<br />
2<br />
62 PS$1303.05<br />
3<br />
65.5 PS$7746.20<br />
2.05<br />
60 EM$975.49<br />
5.2<br />
55.5 $1445.00<br />
EM 5.01<br />
55.5 $1263.31<br />
64 CU$2478.00<br />
5.03<br />
62 CU$7135.50<br />
2.08<br />
64.5 RAD$5251.12<br />
5.01<br />
60 RAD $3986.44 2.09<br />
59.5 $3047.62<br />
MQ 4.18<br />
MQ 3.01<br />
HS 3.01<br />
HS 2.02<br />
AS 2.5<br />
AS 2.01<br />
OV 5.01<br />
OV 3<br />
OV 2.33<br />
OV 2.04<br />
Col/Clar<br />
F-VS2<br />
G-VS2<br />
F-VS2<br />
E-VS2<br />
H-VS1<br />
F-VS1<br />
G-VVS2<br />
F-VS1<br />
F-VS1<br />
E-VS1<br />
F-VS2<br />
G-VS1<br />
E-VS1<br />
F-SI1<br />
F-VS1<br />
E-VS1<br />
E-VS1<br />
F-VS1<br />
G-VS1<br />
G-VS1<br />
G-VS2<br />
G-VS1<br />
F-VS1<br />
E-VS1<br />
D-VS1<br />
F-VS2<br />
G-VS1<br />
E-VS1<br />
G-VS1<br />
F-VS2<br />
G-VS2<br />
H-VS1<br />
E-VS1<br />
G-VS1<br />
E-VS1<br />
E-VS2<br />
D-VS1<br />
H-VS1<br />
H-VS1<br />
Cut<br />
EX<br />
EX<br />
EX<br />
EX<br />
ID<br />
EX<br />
ID<br />
EX<br />
EX<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
ID<br />
EX<br />
EX<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
0<br />
Polish<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
Symmetry<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
EX<br />
Discount%<br />
-95.75<br />
-96.30<br />
-96.10<br />
-97.10<br />
-97.30<br />
-97.10<br />
-97.40<br />
-97.40<br />
-97.40<br />
-97.50<br />
-97.50<br />
-97.60<br />
-97.70<br />
-97.70<br />
-97.70<br />
-97.70<br />
-97.75<br />
-97.80<br />
-97.70<br />
-97.10<br />
-97.10<br />
-96.60<br />
-96.40<br />
-98.20<br />
-98.00<br />
-97.40<br />
-97.30<br />
-97.70<br />
-97.40<br />
-95.75<br />
-95.25<br />
-96.10<br />
-96.40<br />
-96.25<br />
-96.60<br />
-96.50<br />
-96.70<br />
-96.70<br />
-96.60<br />
Depth%<br />
61<br />
60.4<br />
61.1<br />
60.9<br />
59.2<br />
62.8<br />
60.3<br />
63.1<br />
60<br />
61.6<br />
62.1<br />
62<br />
62<br />
61.9<br />
62.4<br />
62.1<br />
62.2<br />
62.8<br />
60.5<br />
73.1<br />
72.5<br />
63.5<br />
61.4<br />
64<br />
65.2<br />
64.8<br />
64.8<br />
63.7<br />
66.6<br />
63.3<br />
63.9<br />
58.7<br />
57.7<br />
64<br />
64.5<br />
63.7<br />
61.3<br />
61.9<br />
60.7<br />
Table%<br />
61.5<br />
60.5<br />
60<br />
60.5<br />
59.5<br />
57<br />
59<br />
55.5<br />
62.5<br />
56.5<br />
58.5<br />
57<br />
59.5<br />
58<br />
57.5<br />
56<br />
57.5<br />
56.5<br />
60<br />
67.5<br />
70<br />
63<br />
58<br />
64.5<br />
66.5<br />
65.5<br />
63.5<br />
65.5<br />
68<br />
56.5<br />
64<br />
58.5<br />
55<br />
66<br />
69.5<br />
57<br />
62.5<br />
60.5<br />
60<br />
Total$<br />
$11495.40<br />
$7785.54<br />
$6733.16<br />
$4981.91<br />
$2347.65<br />
$3308.18<br />
$2850.12<br />
$2822.30<br />
$2763.15<br />
$2901.75<br />
$2194.50<br />
$1226.64<br />
$1290.76<br />
$901.23<br />
$1181.86<br />
$1206.12<br />
$1128.15<br />
$964.92<br />
$913.33<br />
$916.98<br />
$841.00<br />
$2295.00<br />
$1254.60<br />
$5241.60<br />
$6062.10<br />
$5885.10<br />
$870.48<br />
$6452.88<br />
$842.27<br />
$5595.98<br />
$2930.99<br />
$2347.80<br />
$1308.96<br />
$1453.12<br />
$1230.12<br />
$8416.80<br />
$3019.50<br />
$999.57<br />
$901.68<br />
22 W 48th St, New York, NY 10036, USA<br />
Call: (212)-764-7841 | Email: sales@elgdiamonds.com<br />
Website: www.sanghavisolitaire.com/Home/DailySpecial
CONTENTS<br />
DECEMBER <strong>2022</strong><br />
13 EDITOR’S DESK<br />
Knowing when to listen,<br />
and when to hear<br />
ANGELA HAN | <strong>Jeweller</strong><br />
27 DIAMOND SPECIALIST<br />
Customers desire quality<br />
jewellery - so give it to them!<br />
JUSTIN LINNEY | Linney’s <strong>Jeweller</strong>y<br />
36 BUYING GROUP HEAD<br />
Differentiation the key for<br />
jewellers heading into 2023<br />
CLAIRE PACKETT | Leading Edge Group<br />
15 CHAIN STORE<br />
Sales performance remains<br />
as unpredictable as ever<br />
TONY BENSIMON | Shiels<br />
28 BUYING GROUP HEAD<br />
May your profits be high,<br />
and your overheads low<br />
G POCKLINGTON | Nationwide <strong>Jeweller</strong>s<br />
37 BUYING GROUP: LEADING EDGE<br />
Breaking sales records with a<br />
focus on reliability<br />
DAVID PEEL | Phil Peel <strong>Jeweller</strong><br />
17 CHAIN STORE<br />
Benefiting from lessons<br />
learned during lockdown<br />
MUDIT VORA | The <strong>Jeweller</strong>y Group<br />
29 BUYING GROUP: NATIONWIDE<br />
Education key to strong<br />
relationships with customers<br />
GREG MACINTYRE | Creations <strong>Jeweller</strong>y<br />
38 BUYING GROUP: SHOWCASE<br />
Expensive jewellery continues to<br />
sell as customers chase quality<br />
KIRSTY WALKER | Showcase Te Awamutu<br />
19 CHAIN STORE<br />
While change is inevitable,<br />
growth is optional<br />
STUART BISHOP | Wallace Bishop<br />
30 BUYING GROUP: NATIONWIDE<br />
Competition is good for<br />
business - embrace it!<br />
ALLISON ENGLISH | Byrnes <strong>Jeweller</strong>s<br />
39 BUYING GROUP: SHOWCASE<br />
Lab-created diamonds offering<br />
more ‘bang for your buck’<br />
C PEVY-TREWARTHA | My <strong>Jeweller</strong>y Shop<br />
21 CHAIN STORE<br />
Overcoming today’s<br />
recruitment challenges<br />
CINDY POPE | Mazzucchelli’s<br />
31 BUYING GROUP: NATIONWIDE<br />
Battling online rivals, keeping<br />
the ‘old school’ ways alive<br />
MICK GELDART | MJ Geldart <strong>Jeweller</strong>s<br />
40 BUYING GROUP: SHOWCASE<br />
Passion for pink diamonds<br />
still very much on the rise<br />
CATHY MANWARING | CW <strong>Jeweller</strong>s<br />
23 DIAMOND SPECIALIST<br />
Through the looking glass<br />
at tomorrow’s diamonds<br />
GARRY HOLLOWAY | Holloway Diamonds<br />
32 BUYING GROUP HEAD<br />
Elevating independent retail<br />
with clarity and confidence<br />
JOSH ZARB | IJC<br />
41 INDEPENDENT JEWELLER<br />
Honesty – the key to building<br />
long-term relationships<br />
WILLIAM STONE | Stones<br />
24 DIAMOND SPECIALIST<br />
Abiding the proven principles<br />
of the jewellery trade<br />
PETER BIRD | Abrecht Bird <strong>Jeweller</strong>s<br />
33 BUYING GROUP: IJC<br />
Look after your staff, they<br />
will look after your business<br />
KAYLENE FITZPATRICK | Kadia <strong>Jeweller</strong>y<br />
42 INDEPENDENT JEWELLER<br />
Customers increasingly desire<br />
a piece to cherish forever<br />
SEB BROWN | Seb Brown <strong>Jeweller</strong>y<br />
25 DIAMOND SPECIALIST<br />
Diamond industry handling<br />
synthetic challenge with class<br />
CHRIS HOLDWORTH | Holdsworth Bros<br />
34 BUYING GROUP: IJC<br />
Overcoming staffing challenges<br />
after two strong years<br />
TARISA HANCOCK | Pettits Hewellers<br />
43 INDEPENDENT JEWELLER<br />
Making the most of Australia’s<br />
beautiful gemstones<br />
BEN MANNING | Utopian Creations<br />
26 DIAMOND SPECIALIST<br />
Always place your business<br />
in a position to succeed<br />
ASHER ROSE | Charles Rose <strong>Jeweller</strong>s<br />
35 BUYING GROUP: IJC<br />
Modern business ownership is<br />
life without an off switch<br />
JOHN THEARLE | Turramurra <strong>Jeweller</strong>s<br />
44 INDEPENDENT JEWELLER<br />
Aiming for continued growth<br />
despite a cloudy economy<br />
OLIVIA CUMMINGS | Cleopatra’s Bling<br />
46/ WIND BACK THE CLOCK AND REVISIT THE OPINIONS OF YESTERDAY.<br />
WHAT DID JEWELLERS THINK?<br />
51/<br />
CONSUMER’S<br />
PRICE TAGS: YAY OR NAY?<br />
SAMUEL ORD ASKS DOES A PRICE TAG HARM THE<br />
PERCEPTION OF YOUR BUSINESS?<br />
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY<br />
Published by Befindan Media Pty Ltd | ABN 66 638 077 648<br />
Locked Bag 26, South Melbourne, VIC 3205 AUSTRALIA<br />
Phone: +61 3 9696 7200 | Subscriptions & Enquiries: info@jewellermagazine.com<br />
Publisher Angela Han angela.han@jewellermagazine.com • Journalist Samuel Ord samuel.ord@jewellermagazine.com<br />
Production Coordinator Lauren McKinnon art@befindanmedia.com • Advertising Toli Podolak toli.podolak@jewellermagazine.com • Accounts Paul Blewitt finance@befindanmedia.com<br />
Copyright All material appearing in <strong>Jeweller</strong> is subject to copyright. Reproduction in whole or in part is strictly forbidden without prior written consent of the publisher.
WHEN IT’S FILLED WITH LOVE AND MEANING,<br />
IT’S MORE THAN A GIFT
EDITOR’S<br />
DESK<br />
DECEMBER <strong>2022</strong><br />
Here’s what you think:<br />
now, 10, 15 and 20 years ago<br />
What do jewellers think? It’s an interesting question, isn’t it? We decided to hand the magazine<br />
over to some of our readers and ANGELA HAN reports on their fascinating insights.<br />
As a publisher, each month I write an<br />
editorial telling you what I think. In the<br />
media, it’s what we call an ‘opinion piece’.<br />
Editorials are meant to reflect the<br />
author’s view about a subject, whereas<br />
news stories are about reporting the facts,<br />
or at least the facts as they are known at<br />
the time - a journal of record if you will.<br />
An editorial is therefore an opinion, no<br />
different to the way our very popular<br />
Soapbox column features the opinions of<br />
industry members each month.<br />
By nature, opinion pieces are designed to<br />
stimulate thought and debate. They do not<br />
have to be balanced, as they reflect a specific<br />
view – it’s the presenting of a single facet of a<br />
multifaceted issue.<br />
For more than 30 years, <strong>Jeweller</strong>’s editorial<br />
page has provided our thoughts and ideas,<br />
and while readers can agree or disagree, the<br />
most important thing to an opinion writer is<br />
that they are read.<br />
So this month we handed the edition over to<br />
retailers, to tell us: What do jewellers think?<br />
We have included a wide range of opinions<br />
from large to small independents, large<br />
chains and everyone in between!<br />
By far the most important topic raised was<br />
that of staffing. Regardless of the scale of a<br />
business, human resources have become<br />
scarce these days, and many share the<br />
difficulties of finding quality staff.<br />
In addition to this topic, you’ll see that<br />
the responses have been nothing short of<br />
fascinating; despite each of our contributors<br />
coming from the same jewellery retail<br />
background, each has something entirely<br />
unique to say.<br />
To quickly ascertain whether or not you<br />
agree with your colleagues’ views, here are<br />
10 statements from the following pages to<br />
whet your appetite:<br />
1. Our view is that synthetic diamonds<br />
are imitations of natural diamonds.<br />
Yes, physically, optically, chemically<br />
they are the same mineral but they<br />
fail one of the three basic ‘what is a<br />
gemstone?’ tests. Rarity.<br />
2. The increase in interest in lab-created<br />
diamond pieces has not impacted our<br />
natural diamond sales at all, with us<br />
continuing to have strong interest and<br />
sales in the category.<br />
3. Lab grown diamonds increased sales,<br />
our salespeople have changed the<br />
minds of customers when they learned<br />
that giving a fake gift to a partner may<br />
not be wise! Why indicate that you’re a<br />
cheapskate?<br />
4. Fortunately, sales of lab-created<br />
diamonds have been ‘extra’ sales<br />
and have not reduced sales of<br />
natural diamonds.<br />
5. I would have laughed if you had told<br />
me 10 years ago that we would be<br />
selling fashion jewellery, but here we<br />
are selling loads of branded costume<br />
jewellery. It is fun, fashionable, and<br />
affordable.<br />
6. I thought that the Apple iWatch was<br />
going to impact the watch industry in<br />
a major way. The opposite has been<br />
true with the watch category improving<br />
over this period. That has been a<br />
surprise.<br />
7. We estimate that over 400 stores or<br />
12 per cent of all retail jewellers<br />
closed. As a result, the increase in<br />
jewellery sales has been split between<br />
fewer jewellery stores.<br />
8. Chain stores form a big part of the<br />
jewellery industry but they will be a<br />
lesser threat to our business over the<br />
next five years as customers will be<br />
increasingly aware of manufacturing<br />
and quality considerations around all<br />
the products they are buying.<br />
9. My personal feeling is that chain stores<br />
have cheapened the industry. Yes,<br />
there is a market for them, but please,<br />
WORDS TO LIVE BY<br />
“T he truth<br />
is not always<br />
beautiful, nor<br />
beautiful words<br />
the truth.”<br />
– LAO TZU –<br />
I don’t believe my business belongs in<br />
the same ‘category’ as a chain store.<br />
10. Chain stores are a significant threat to<br />
us, as they are able to offer customers<br />
more bang for their buck. We can’t<br />
compete in that regard. However, in<br />
this, there is a difference in quality –<br />
not to talk down other products!<br />
<strong>Jeweller</strong>’s motto is to under-promise and<br />
over-deliver, so here are three more:<br />
11. We’re very surprised that we are still<br />
breaking sales records this year, on<br />
top of our increased sales from 2021.<br />
12. The internet is killing our business –<br />
we can’t compete with what consumers<br />
believe is available online.<br />
13. I was surprised when everyone<br />
was talking doom and gloom<br />
about jewellery as a trade, I think<br />
it impressed me just how strong<br />
business has been. I thought it<br />
might’ve dropped off a little bit but<br />
we are finding things are going well.<br />
A vibrant and fearless industry<br />
Do any of the above statements resonate<br />
with you? Perhaps you find yourself on the<br />
opposing side?<br />
The important point here is that there are<br />
no right or wrong ‘opinions’, but rather that<br />
each experience and perspective paints a<br />
larger picture of what jewellers think.<br />
We have also stepped back in history<br />
through our comprehensive archives to<br />
see what you were thinking 10, 15 and 20<br />
years ago! Can you imagine the concerns<br />
of jewellers 20 years ago, compared to that<br />
of those today?<br />
The mark of a vibrant and fearless industry<br />
is when members of the trade can freely<br />
express one’s opinions and debate issues,<br />
even if controversial. This special edition is<br />
much like a long look into the mirror – it’s a<br />
reflection of the hearts and minds that make<br />
up our Australian jewellery industry. i<br />
<strong>December</strong> <strong>2022</strong> | 13
BESPOKE<br />
by BECKS<br />
Introducing Bespoke by BECKS.<br />
Bespoke by BECKS gives our customers the opportunity to<br />
design and create a forever piece for their client. We’re proud<br />
to have the opportunity to work alongside our customers to<br />
create that special piece that celebrates a connection and<br />
story. Whether building on an existing BECKS design or bringing<br />
a unique vision to life, our dedicated customer service and<br />
production team are there to support you through the process.
WHAT DO JEWELLERS THINK?<br />
CHAIN STORE<br />
Sales performance remains as<br />
unpredictable as ever<br />
Shiels<br />
with Toby Bensimon, Managing director<br />
Est. 1945 • Years in Trade 20 • Location Adelaide, SA<br />
shiels.com.au<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
Trying to predict sales volumes as demand<br />
and market trends remained unpredictable.<br />
Knowing how much to order from our<br />
suppliers has been a very serious challenge.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
How quickly it became boring to talk about<br />
the pandemic was a surprise. Our customers<br />
and teams see it as firmly in the rearview<br />
mirror and that snapped in as soon as we<br />
opened up.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
Guerilla tactics have to be employed in these<br />
times. Our team uses every interaction with<br />
people to spruik the benefits of working in<br />
our business. It has been surprising how well<br />
this strategy has worked. We must now seek<br />
great people rather than placing a job ad and<br />
waiting for resumes to arrive.<br />
In <strong>December</strong> <strong>2022</strong>, are you paying<br />
more or less tenancy costs (rent/lease,<br />
outgoings etc) than you were in 2019?<br />
Things have returned back to normal now<br />
and that extends to landlord deals in terms<br />
of costs. Lease terms have shortened which<br />
will take a few years to wash through the<br />
system but I believe that too will return to<br />
normal before too long.<br />
Has your sales income increased or<br />
decreased in the past five years ago?<br />
Our sales increase every year as does profit.<br />
With fixed costs looking like they might be<br />
higher than 8 per cent this year, if sales and<br />
profit aren’t matching that number then you<br />
have a couple of years before its curtains for<br />
any business out there.<br />
Costs must never exceed income as a hard<br />
rule.<br />
Can you comment on online retailing?<br />
At 14.5 per cent of total Australian retail<br />
sales being conducted through digital<br />
channels, I think that the growth will slow<br />
down. We are seeing slowdowns now and as<br />
the percentage inches up it will eventually<br />
hit a ceiling.<br />
Have you noticed any new trends in<br />
consumer product preference ?<br />
With the rise of Instagram as the influence<br />
channel of choice for our customer we have<br />
noticed that ‘hot’ products don’t exist in the<br />
way that they once did.<br />
We used to be able to pick a winner, market<br />
it in catalogue and sell loads of them<br />
because our customer was comparing that<br />
product to the four other catlogues that<br />
they had read that week. Now our customer<br />
flicks through instagram and sees one<br />
million different rings before breakfast and<br />
is looking for a large range in store.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits<br />
over the past 12 months?<br />
Less browsing and a higher conversion.<br />
It is perhaps a reflection that they have<br />
researched the product that they want<br />
before coming in.<br />
Have you noticed any major change to<br />
consumer behaviour in the past 5 years?<br />
Customers are shopping faster. Less<br />
browsing and faster expectations regarding<br />
the checkout experience is now nonnegotiable.<br />
What trends are you anticipating in<br />
consumer behaviour and overall sales?<br />
A big slowdown is ahead. Interest rates and<br />
general sentiment are looking pretty dire.<br />
WORDS TO LIVE BY<br />
“The road<br />
of excess<br />
leads<br />
to the<br />
palace<br />
of wisdom.”<br />
Winter is coming…<br />
What is the most significant change to<br />
the industry in the past 10 years?<br />
Finance options. They have all but<br />
eliminated the layby payment system and<br />
that in turn has shifted the Christmas period<br />
from what used to be a September warmup,<br />
towards a late November peaking period<br />
as they can pull the trigger on a larger<br />
purchase closer to the 25 <strong>December</strong> and pay<br />
it off over time. This has been a huge shift.<br />
Again, thinking back to 2012, are there<br />
any products that have surprised you?<br />
I thought that the Apple iWatch was going<br />
to impact the watch industry in a major way.<br />
The opposite has been true with the watch<br />
category improving over this period. That<br />
has been a surprise.<br />
Thinking about the Australian and/or<br />
New Zealand jewellery industry, if there<br />
was one thing you could hope for, or one<br />
change you’d like to see, what is it?<br />
I hope for a return to a boring news cycle.<br />
I wish that I had no idea who the Chief<br />
Health Officers of each state were. I could<br />
live a happy life forgetting those schmucks,<br />
honestly.<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
5 - The market will slow and we will get<br />
close to a recession as interest rates rise.<br />
We are heading into an economic doldrum.<br />
What do you think might be the most<br />
significant challenge your business will<br />
face in 2023?<br />
Inflation and rising costs. We will have to lift<br />
prices to match these and it will be a tough<br />
road ahead. i<br />
<strong>December</strong> <strong>2022</strong> | 15
WHAT DO JEWELLERS THINK?<br />
CHAIN STORE<br />
Benefiting from lessons learned<br />
during lockdown tribulations<br />
The <strong>Jeweller</strong>y Group<br />
with Mudit Vora, Chief Executive Officer (Zamel’s & Mazzucchelli’s)<br />
Est. 1903 • Years in Trade 14 • Location Adelaide, SA<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
Staffing has been the biggest challenge this<br />
year, whilst we’ve been able to retain most of<br />
our staffing in management roles, hiring new<br />
team members within the entire organisation<br />
continues to be the biggest challenge.<br />
Have you had to change the way you<br />
manage your staff?<br />
Whilst the business has been fortunate<br />
enough to ensure most of the management<br />
has been retained, the new staff has been<br />
challenging. We’ve had to re-look at our<br />
recruitment avenues – previously we had<br />
only one or two – today almost five or six<br />
avenues to hire the right people.<br />
We’ve introduced referral incentives for<br />
existing teams, increased salary bands<br />
where applicable and re-configured our<br />
performance bonuses to ensure retention.<br />
Now that lockdowns are behind us, have<br />
you made any changes to your strategy?<br />
COVID lockdowns ensured every business<br />
was able to be agile in their approach, us<br />
being no different.<br />
Managing the business through COVID<br />
ensured the business is completely flexible<br />
in the management of the day-to-day<br />
operations, ready to make changes in a short<br />
amount of time.<br />
For our Mazzucchelli’s stores, we have been<br />
able to ensure a wider range of diamonds<br />
using our vertically integrated supply chain<br />
and for Zamel’s we’ve been able to expand<br />
our offering covering all relevant price points<br />
to ensure there’s something for everyone.<br />
Have you noticed any new trends in<br />
consumer product preference?<br />
The trends have certainly changed recently<br />
with a lot more customers wanting<br />
something unique and personalised.<br />
Mazzucchelli’s customers have been<br />
spending on higher price point items which<br />
are ‘one-offs’, we’ve also seen an increased<br />
trend of fancy shaped diamond, as against<br />
round brilliant.<br />
For Zamel’s, the growth of lab-created<br />
diamonds has been unprecedented, and<br />
the colour gemstones market seems to<br />
be growing steadily each year.<br />
What is the most significant change to<br />
the industry in the past decade?<br />
Social media trends have had a huge impact<br />
on jewellery retail especially with product<br />
trends. Previously it used to take a few<br />
years for certain trends to become a global<br />
trend however with social media influencers<br />
trends are accepted much quicker than<br />
before.<br />
The downside to this however also means<br />
trendy products can go out of fashion very<br />
quickly as the probability of a new trend<br />
coming into the market is also quicker.<br />
<strong>Jeweller</strong>s these days need to be quick in<br />
ensuring they can move with the market.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits?<br />
Customers these days are much more<br />
aware of what exactly they are looking for,<br />
a lot of research goes into their purchase<br />
which makes it easier for retailers.<br />
Are you selling more colour gemstone<br />
jewellery than you were five years ago?<br />
Yes, colour gemstones, both natural and<br />
synthetic, have been on trend the past few<br />
years. Some customers are even<br />
considering coloured gemstones for<br />
their engagement rings.<br />
Are you selling more pearls and pearl<br />
jewellery than you were five years ago?<br />
Yes. South Sea, Tahitian for Mazzucchelli’s<br />
WORDS TO LIVE BY<br />
“Working<br />
hard and<br />
working<br />
smart can<br />
be two<br />
different<br />
things.”<br />
and Fresh Water for Zamel’s have been a<br />
massive part of our business. We expect<br />
to see it increasing more in the coming<br />
months. Pearl strands have been a great<br />
trend for red-carpet events.<br />
Looking forward to 2023, what trends are<br />
you anticipating in consumer behaviour,<br />
merchandise and overall industry sales?<br />
2023 will be an extension of what we’ve<br />
seen in 2021 and <strong>2022</strong>, more one-off unique<br />
pieces, coloured gemstone engagement<br />
rings, tennis styles as well as lab-created<br />
diamonds.<br />
Has the performance of any particular<br />
product surprised you in recent years?<br />
In the past three years, our business has<br />
invested heavily in our diamond jewellery<br />
using our resources within the vertical<br />
supply chain. It has been interesting to<br />
see the rise of yellow gold bridal jewellery<br />
compared to what it used to be.<br />
Tennis styles have been growing year-onyear<br />
making it one of the biggest ranges<br />
for us within Mazzucchelli’s. Natural colour<br />
gemstones and South Sea Pearls are<br />
continuing to see a rapid growth within the<br />
business.<br />
Higher than average certified diamond size<br />
has been trending well, better than in the<br />
past. Zamel’s continues to have a steady<br />
growth with lab-created diamonds which<br />
was unknown just five years ago.<br />
On a scale of 1 to 10 – how confident<br />
are you for the next 12 months in<br />
terms of sales and profitability?<br />
6 – With potential travel plans to go back<br />
to pre-COVID levels in 2023, as well as<br />
concerns around interest rates, there<br />
could be an impact on customer<br />
spending on luxury items. i<br />
<strong>December</strong> <strong>2022</strong> | 17
WHAT DO JEWELLERS THINK?<br />
CHAIN STORE<br />
While change is inevitable,<br />
growth is optional<br />
Wallace Bishop<br />
with Stuart Bishop, Chief Exective Officer<br />
Est. 1917 • Years in Trade 37 • Location Newstead, QLD<br />
wallacebishop.com.au<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
Like every business, we faced our own<br />
challenges with staff during, and post-<br />
COVID. Fortunately, 12 months ago, we<br />
overhauled our retail support team and put<br />
a focus on developing and empowering our<br />
store managers and associates within the<br />
business.<br />
Our position was for them to understand<br />
their value in the business and where their<br />
lines of support are. The managers have<br />
the authority, and the guidelines to procure,<br />
develop and manage their team in line with<br />
the new expectations of the business and are<br />
fully supported by an internal support team.<br />
Have you changed business strategies<br />
now that lockdowns are behind us?<br />
A business should constantly be reviewing its<br />
strategies based on what is occurring and if<br />
a change is needed, to do it quickly. We have<br />
executed multiple changes as a business,<br />
adjusting with the market post-lockdown of<br />
which we were fortunate enough to see a<br />
positive result.<br />
We worked with staff, specifically managers,<br />
to develop their leadership with the<br />
challenges of staffing and changed our entire<br />
development and support structure for our<br />
stores. We have reviewed and introduced new<br />
product ranges that balance both trends and<br />
demands from the market with quality that is<br />
complementary to our brand’s history.<br />
As a business we focus on continuous<br />
improvement and work towards making<br />
advances every day. At the moment we<br />
continue to be customer-centric, and our<br />
developments revolve around the client<br />
experience, ease of service, and education<br />
for our clients.<br />
Have you noticed any new changes in<br />
consumer product preference?<br />
What’s old is new again – the uptake in<br />
vintage or vintage styles has been in very<br />
high demand. Although it does come with<br />
its modern-day touches. We started noticing<br />
it with the uptake in pearls and plain gold<br />
pieces.<br />
From there the evolution of plain gold<br />
pieces, signet rings, and, croissant style<br />
huggie earrings. All things that remind us of<br />
mum’s old jewellery that used to be used for<br />
dress-ups. More to come and keep it going<br />
we say!<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits?<br />
Where people became very comfortable with<br />
online shopping during COVID, we have seen<br />
this preference steady as more and more<br />
people become comfortable with visiting<br />
stores again. Online has definitely become<br />
the norm with clients having their initial<br />
contact with the brand through an online<br />
or digital platform of some type. But now<br />
they have the opportunity to visit a store and<br />
experience the product and the brand - this<br />
experience needs to be the focus for us.<br />
This is where it becomes important for<br />
brands to enhance their brand experience.<br />
As we continue to develop our online<br />
experience, we are working towards offering<br />
a new physical experience in our stores.<br />
Another project for 2023!<br />
Have you noticed any major change to<br />
consumer behaviour due to COVID?<br />
The most promising change we have seen<br />
in consumer behaviour is the preference<br />
of quality. I believe the factors that<br />
impacted everyone saw a communal shift<br />
in preferences for product that is created<br />
upon the foundations of quality on top of<br />
sustainable and ethical factors.<br />
WORDS TO LIVE BY<br />
“If a change<br />
is needed,<br />
do it<br />
quickly.”<br />
For a brand that has a history like ours, we<br />
have always been sure that quality remains<br />
as a pillar in everything we do, so it was a<br />
promising sign to see consumers recognise<br />
and act upon a preference for quality. This<br />
has come from a developed understanding<br />
from consumers (especially in Australia)<br />
about where their products come from and<br />
being given a choice. Those that are willing<br />
to spend more to have a product that is wellcrafted<br />
from a trusted brand, and it is well<br />
cared for, will see it last longer.<br />
Choice is the biggest factor here, and COVID<br />
emphasised that. Customers can now<br />
choose whether they might spend a little<br />
more for a solid gold piece over a hollow,<br />
or plated piece for example. This may not<br />
always be possible to achieve, however as<br />
long as there is a choice and it is considered,<br />
we can provide the best outcome.<br />
What is the most significant change<br />
to the industry in the past 10 years?<br />
Online retailing is still the biggest game<br />
changer as it has made businesses focus<br />
on multiple areas of client experience more<br />
than ever before.<br />
Not only relevant to our industry, but the<br />
increased competition from other industries<br />
has been a big part of what jewellers must<br />
consider and change to present their brands<br />
to clients with discretionary spending, that<br />
could potentially spend money on travel,<br />
clothes, and other luxury goods both locally<br />
and internationally.<br />
What will be the most significant<br />
challenge your business faces in 2023?<br />
I think the most significant challenge in any<br />
business will always be change itself. 2021<br />
and <strong>2022</strong> have been a constant evolution,<br />
where we were required to make changes<br />
and adapt to different situations.i<br />
<strong>December</strong> <strong>2022</strong> | 19
WHAT DO JEWELLERS THINK?<br />
CHAIN STORE<br />
Overcoming today’s<br />
recruitment challenges<br />
Mazzucchelli’s<br />
with Cindy Pope, Retail general manager (The <strong>Jeweller</strong>y Group)<br />
Est. 1903 • Years in Trade 20 • Location Adelaide, SA<br />
mazzucchellis.com.au<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
The biggest issue we have faced this year<br />
would be people. Recruitment has been<br />
challenging all year, we have observed a<br />
decline in the calibre of potential employees<br />
coming through on recruitment platforms<br />
such as Seek and Linkedin.<br />
When candidates do turn up for the<br />
interviews, they are quite demanding in<br />
their approach and appear to have the<br />
upper hand in the interview. Working from<br />
home has become a big perk to many office<br />
workers however as a customer facing<br />
industry, we do not have this luxury.<br />
Can you make a comment about online<br />
retailing? - Are you happy with the<br />
percentage of online sales, and do you<br />
see it increasing in the future?<br />
The <strong>Jeweller</strong>y Group brands were late<br />
adaptors to the e-commerce business,<br />
implementing the Mazzucchelli’s website<br />
at the peak of the pandemic.<br />
Since the launch however the e-commerce<br />
business for the brands has been<br />
unsurprisingly quite successful with<br />
double-digit growth year-on-year. We are<br />
continually looking at enhancing our online<br />
user-experience and aim to have our online<br />
store as one of the biggest within the next<br />
3-5 years.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
Our long serving managers are still<br />
dedicated to our business, however new staff<br />
are proving to be difficult to get on board<br />
with lists of demands and entitlements. We<br />
have had to change some processes with<br />
recruitment, including store decals with<br />
barcodes linking directly to recruitment.<br />
It has meant increased salary bandings,<br />
the introduction of on-boarding bonuses,<br />
and bonuses to our team who put forward<br />
candidates that are successful and pass<br />
probation.<br />
Have you changed business strategies<br />
now that lockdowns are behind us?<br />
We have expanded our diamond business<br />
through the pandemic, using our exclusive<br />
resources through our vertically integrated<br />
diamond supply chain and expanding the<br />
branded and non-branded diamond ranges<br />
by more then double.<br />
In <strong>December</strong> <strong>2022</strong>, are you paying<br />
more or less tenancy costs (rent/<br />
lease, outgoings etc) than you were in<br />
<strong>December</strong> 2019?<br />
During the pandemic our business was<br />
fortunate to get the support from shopping<br />
centres - whether it was through rental<br />
re-negotiations or temporary abatements.<br />
There are still some stores with longer<br />
lock-ins but overall, the business has<br />
been extremely pro-active in ensuring<br />
almost each and every store is financially<br />
productive.<br />
Thinking back to 2012, are there any<br />
products that have surprised you<br />
because you’re selling more of and/or<br />
and selling less of today?<br />
During the past three years, our business<br />
has invested heavily in our diamond<br />
jewellery using our resources within<br />
the vertical supply chain.<br />
It has been interesting to note the rise of<br />
yellow gold bridal jewellery. Tennis styles<br />
have been growing year-on-year making<br />
it one of the biggest ranges for us within<br />
Mazzucchelli’s.<br />
Natural colour stones and South Sea pearls<br />
are continuing to see rapid growth within the<br />
WORDS TO LIVE BY<br />
“I never<br />
dreamed of<br />
success,<br />
I worked<br />
for it.”<br />
business. Higher than the average certified<br />
diamond size has trended well in the past.<br />
Has your sales income increased or<br />
decreased in the past five years ago?<br />
Sales have increased and we have noticed<br />
customers are still seeking that ‘luxury<br />
spend’ and while the boarders are open,<br />
travel is not what it used to be.<br />
Have you noticed any new trends in<br />
consumer product preference (styles,<br />
materials etc) over the past 12 months?<br />
Yes in Mazzucchelli’s larger priced items,<br />
one-off statement pieces such as tennis<br />
necklaces and bracelets.<br />
Are you selling more colour gemstone<br />
jewellery than you were five years ago?<br />
Definitely - there’s been a massive spike in<br />
natural gemstone sales. We have doubled<br />
our ranges in those areas.<br />
Are you selling more pearls and pearl<br />
jewellery than you were five years ago?<br />
Yes, we have strengthened our partnership<br />
with Autore and launched a collection last<br />
year called Perla by Autore which added 30<br />
new pieces to our existing range.<br />
Have you noticed any major change to<br />
consumer behaviour in the past 5 years,<br />
particularly due to COVID?<br />
Yes, we have noticed an increase in customer<br />
spends, today’s customers are also shopping<br />
more for themselves and spoiling themselves.<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
10 - I think we have an exceptional team<br />
with fantastic unique exclusive brands,<br />
fabulous product offerings, strong<br />
partnerships with our Swiss suppliers<br />
and of course as I mentioned, our unique<br />
vertical supply chain.i<br />
<strong>December</strong> <strong>2022</strong> | 21
MELBOURNE<br />
Let’s Go!<br />
Swap screen time<br />
FEBRUARY 4 – 6, 2023<br />
for LIVE time.<br />
FEBRUARY 4 – 6, 2023<br />
Melbourne Exhibition Centre, South Wharf<br />
Register for free at jewelleryfair.com.au/mjexpo<br />
DISCOVER MORE THAN 40+ EXHIBITORS<br />
Proudly supported by<br />
AUSTRALIA’S NO.1<br />
JEWELLERY EVENTS<br />
Contact Nick Fewtrell on email at<br />
nicholas.fewtrell@expertiseevents.com.au<br />
Organised by<br />
Est. 1990
WHAT DO JEWELLERS THINK?<br />
DIAMOND SPECIALIST<br />
Through the looking glass<br />
at tomorrow’s diamonds<br />
Holloway Diamonds<br />
with Garry Holloway, Owner<br />
Est. 1976 • Years in Trade 48 • Location Melbourne, Victoria<br />
hollowaydiamonds.com.au<br />
Have you noted a substantive interest<br />
in lab-created diamonds from your<br />
customers over the past 12-24 months?<br />
Yes, only a very small rise in interest but<br />
we do have “Only Natural” on our logo and<br />
we don’t do lab-created diamond SEO or<br />
advertising. So we have had a small number<br />
of requests, more in our Brighton store than<br />
Canterbury store which is a destination store.<br />
Have lab-created diamonds impacted<br />
sales of natural diamond jewellery?<br />
They’ve increased sales! Our salespeople<br />
have changed the minds of people when they<br />
learned that giving a fake gift to a partner<br />
may not be wise! Why indicate that you’re a<br />
cheapskate?<br />
Has the average selling price of a diamond<br />
ring changed since lab-created diamonds<br />
gained prominence?<br />
Of course it has increased but that’s more<br />
to do with the rise in the price of natural<br />
diamonds during the COVID pandemic and<br />
across the past year. And the US dollar has<br />
been all over the place but mostly higher for<br />
Australia. They are the prime reasons why<br />
diamond prices have increased.<br />
Do you think there is a belief by<br />
consumers that lab-created diamonds<br />
are “better for the planet”?<br />
Many consumers are hoodwinked because<br />
the margins on lab-created diamonds have<br />
been so astronomically ridiculously high<br />
that lots of fake news and money has been<br />
spent on that branding to say lab-created<br />
diamonds are more eco-friendly.<br />
But of course it’s unproven and until the<br />
greenwashing is called for what it is, we<br />
won’t really know. A tonne of carbon dioxide<br />
offset costs more than $US100 in Europe, but<br />
a few cents in India where the vast majority<br />
of larger CVD (chemical vapor desposition)<br />
lab-created diamonds are grown. The Indian<br />
government is even giving lower electricity<br />
taxes to expand that business and more<br />
than three quarters of their electricity comes<br />
from burning fossil fuels!<br />
But I am happy that it’s forced the natural<br />
diamond market to change the way it mines,<br />
and the way it treats its diamonds, the<br />
workers and the surrounding environments.<br />
The lab-created diamond greenwashing has<br />
been good for the whole industry, a bit like<br />
the blood diamonds frenzy that inspired an<br />
improvement in our industry’s ethics.<br />
The one thing that needs to change on<br />
sourcing diamonds is labs to come clean<br />
on hazy milky cloudy diamonds. Instead of<br />
concealing those stones by lowering the<br />
clarity grade with confusing terminology,<br />
like clouds not shown, or grading based on<br />
internal graining, labs should call a spade<br />
a spade. Add a grading like all the large<br />
honest Indian natural diamond cutting<br />
manufacturers do. Excellent, Very Good,<br />
Slightly Milky, Milky and so on. Labs know<br />
it when they see it, and they know they are<br />
deceiving consumers. This applies to both<br />
natural and even more so to lab-created<br />
diamonds as most CVD diamonds have<br />
grainy growth planes.<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
Of course it was staffing and staff<br />
replacement – we never fired or laid<br />
anyone off during COVID. When we came<br />
out of lockdowns in Melbourne a lot of<br />
businesses that took Job Keeper restarted<br />
and tried to employ salespeople and<br />
jewellers. A lot of people on Job Keeper -<br />
here and around the world - learned to<br />
live on less money. Those that wanted to<br />
work were being offered crazy money.<br />
Over the past year some salespeople left<br />
and from what I hear, they’re struggling<br />
to get even close to what we paid them.<br />
WORDS TO LIVE BY<br />
“You have to<br />
demonstrate<br />
that you are<br />
worthy of<br />
trust, you<br />
can’t simply<br />
ask for it.”<br />
We have had fantastic new experienced<br />
people start with us, people with ‘batteries<br />
included’.<br />
Have you made any changes now that<br />
lockdowns are behind us?<br />
Our business and our profitability is nearly<br />
doubled and that is continuing even as<br />
clients trip around the world again. We<br />
got really good at working with clients<br />
at a distance.<br />
Our salespeople were forced to reach out<br />
and use our client databases and contact<br />
customers. There had been cold calling<br />
reluctance before but they know that when<br />
they do, most of the time, customers are<br />
really happy to talk to you. We’ve already<br />
established relationships with clients, and<br />
they got stronger through COVID.<br />
Can you comment on online retailing?<br />
Well, it’s obvious, take the two biggest, Blue<br />
Nile and James Allen. I know both intimately<br />
and they are opening brick and mortar<br />
stores. Their costs and margins are going<br />
up and getting closer and closer to<br />
overheads of brick and mortar retail.<br />
Marketing cost have gone through the roof<br />
as Google and Facebook and Instagram<br />
are getting greedier and greedier.<br />
I joined the business of a diamond forum<br />
and aggregator in 1999 because I was<br />
sure I would need to sell online to survive,<br />
but never got even close to needing to<br />
sell online. The cost difference between<br />
running a bricks and mortar store vs<br />
online-only is shrinking.<br />
In the US during COVID the online diamond<br />
business got to 25 per cent of the market -<br />
I predict that when it reaches 50:50 the cost<br />
bases for successful businesses will be<br />
equivalent and by then myself, and likely you<br />
reading this, will be pushing up daisies. i<br />
<strong>December</strong> <strong>2022</strong> | 23
WHAT DO JEWELLERS THINK?<br />
DIAMOND SPECIALIST<br />
Abiding the proven principles<br />
of the jewellery trade<br />
Abrecht Bird <strong>Jeweller</strong>s<br />
with Peter Bird, Owner<br />
Est. 1875 • Years in Trade 41 • Location Melbourne, VIC<br />
abrecht.com.au<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
When the doors of our business were<br />
closed to our customers, we still had a<br />
substantial backlog of outstanding<br />
orders for handmade jewellery.<br />
Luckily a couple of our jewellers had work<br />
benches at home, so they could continue<br />
to produce.<br />
Have you changed your business now that<br />
lockdowns are behind us?<br />
One of our team, Eleanor, an outstanding<br />
jeweller, suggested that we should engage<br />
with our client list online, by artistically<br />
presenting our product that was otherwise<br />
residing within our safes. The result was<br />
overwhelming!<br />
Although our business had transformed<br />
over recent years towards hand making<br />
individual pieces, our ‘old’ stock was<br />
suddenly in demand.<br />
This created an amazing cash buffer<br />
and gave us hope that we would survive.<br />
Government assistance bolstered this.<br />
When our doors reopened the pent-up<br />
demand translated into a boom! I had<br />
never seen such buoyant conditions.<br />
We had a huge stockpile of stock, and this<br />
initiative of Eleanor’s turned it into cash!<br />
What are some of the important changes<br />
within your business in recent years?<br />
Our background, for more than 100 years<br />
(four generations) was as manufacturers<br />
and wholesalers, supplying the best retailers<br />
around Australia.<br />
But because of a robbery committed by a<br />
South American criminal gang who preyed<br />
upon diamond reps, I stopped travelling<br />
and switched our focus to making custom/<br />
handmade jewellery for our private clients.<br />
I soon came to enjoy the chance to assist<br />
our growing list of private clients – taking<br />
great pride in their happy reactions to the<br />
pieces of jewellery which they commission<br />
us to produce – by far my favourite aspect<br />
of the job.<br />
What will be the most significant<br />
challenge your business faces in 2023?<br />
Since those heady days I mentioned earlier,<br />
fortunes have changed. The burst of<br />
spending turned into a trickle as economic,<br />
and world political news soured. The catchup<br />
business of postponed engagements<br />
and weddings slowed down.<br />
Naturally, our figures declined as the<br />
economic circumstances evolved.<br />
The current economic environment of<br />
higher inflation and interest rates has<br />
seen a huge decline in demand for<br />
engagement rings.<br />
However, after three months in the<br />
doldrums, things are now back on track<br />
and hopefully, it stays that way for some<br />
time to come.<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
In the early days of release from<br />
lockdown, people were frightened of social<br />
engagement, so they were reluctant to visit<br />
Melbourne city again.<br />
Thankfully I can report that has changed -<br />
we are now seeing more appointments.<br />
True, many enquiries have migrated from<br />
high value diamond engagement and<br />
wedding rings to transforming older family<br />
jewellery into new pieces, but this is our<br />
forte.<br />
If there was one thing you could hope to<br />
see within the industry, what would it be?<br />
My only hope is that within our business,<br />
WORDS TO LIVE BY<br />
“Quality<br />
without<br />
compromise.”<br />
we continue to to stick with the principles<br />
of trade we know have served us well for<br />
decades.<br />
We must continuously adapt and we are<br />
indeed fortunate to have a very talented<br />
team in our workshop who can create<br />
works of art that delight our small but<br />
discriminating client base.<br />
We are now struggling to keep up!<br />
Abrecht Bird <strong>Jeweller</strong>s has a long and<br />
strong history of which we are extremely<br />
proud.<br />
Businesses cannot survive long in this<br />
industry unless they are based on solid<br />
foundations of quality and integrity.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
Although our workshop staff are long time<br />
and very experienced employees, we have<br />
had to adopt a more flexible approach.<br />
Gone are the days of my grandfather and<br />
father, when the workshop was full of men<br />
working 40 hours a week under the eye of<br />
a supervising foreman!<br />
Now each of our jewellers works on various<br />
days of the week.<br />
Greg works three days off site and two days<br />
in the workshop, while Eleanor has recently<br />
returned part time from maternity leave, so<br />
she is here two days a week.<br />
Yuki recently accepted a position as a<br />
teacher at TAFE so she is now only with<br />
us two days a week, and Tony likewise<br />
works three days a week.<br />
This is the new business landscape, not<br />
just in our industry but many others.<br />
It has its challenges, however, we must<br />
be flexible. i<br />
24 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
DIAMOND SPECIALIST<br />
Diamond industry handling<br />
synthetic challenge with class<br />
Holdsworth Bros<br />
with Chris Holdsworth, Co-owner<br />
Est. 1884 • Years in Trade 32 • Location Melbourne, VIC<br />
holdsworthbros.com<br />
Have you noted a substantive interest<br />
in lab-created diamonds from your<br />
customers over the past 12-24 months?<br />
The topic of lab created diamonds has<br />
been a fascinating one to watch unfold<br />
across our industry. While synthetic gems<br />
have been with us for more than 100 years<br />
– and imitations for thousands of years –<br />
diamond synthetics are unique.<br />
Firstly, diamonds are by far the most<br />
popular gemstone in jewellery on the planet<br />
so that alone gets them special attention.<br />
And secondly, subtlety but equally as<br />
important, synthetic diamonds are not<br />
definitely distinguishable from their<br />
natural counterpart using standard<br />
field gemmological tools.<br />
This makes their status in jewellery<br />
different to coloured synthetics which<br />
can be distinguished with far more<br />
certainty using gemmological training<br />
and a good toolkit.<br />
So if jewellers can’t tell, surely that<br />
means consumers should consider<br />
them? The answer to this, judging by<br />
the marketplace, is a resounding ‘Yes!’.<br />
We have received an ever increasing<br />
number of requests and opinion on<br />
synthetic diamonds and spent quite<br />
some time training our staff on how<br />
to handle these clients.<br />
Our view is that synthetic diamonds<br />
are imitations of natural diamonds.<br />
Yes, physically, optically, chemically<br />
they are the same mineral but they<br />
fail one of the three basic ‘what is a<br />
gemstone?’ tests. Rarity.<br />
Has that interest translated to more - or<br />
less - sales of natural diamond jewellery?<br />
Natural diamonds are valuable because<br />
they are rare. This rarity feeds directly into<br />
the allure and appeal driving the emotion<br />
of owning a natural diamond. Synthetic<br />
diamonds however are not rare, and their<br />
prices have plummeted and continue to<br />
do so. 80 per cent off Rap was common<br />
a couple of years ago. 90 per cent now is<br />
normal as production prices fall. It seems<br />
almost bizarre that you would even grade<br />
synthetic diamonds the same way as<br />
natural, I guess this is done to try and rub<br />
off on that value natural diamonds have.<br />
In contrast natural diamond prices have<br />
appreciated substantially after their COVID<br />
pause, particularly 1-carat plus sizes in<br />
higher colours and clarity. My personal<br />
view is that this is a result of cash pumped<br />
into economies over the past five years<br />
rather than an aversion to the flood of<br />
synthetic diamonds in the market. Unlike<br />
the synthetic market you can’t just increase<br />
supply, so demand accelerating not<br />
matched by supply causes prices to rise.<br />
As much as synthetic diamonds are not<br />
a fit for my company, they do have a place<br />
in jewellery, they are still beautiful and<br />
they are durable. There are retailers who<br />
make an entire business of selling imitation<br />
diamonds, like moissanite and cubic<br />
zirconia.<br />
Synthetic diamonds will soon enough<br />
compete on price for these retailers to<br />
consider. Already they allow those with<br />
a modest budget to find something with<br />
some serious ‘Wow!’, and many jewellers<br />
embrace this.<br />
Do you think there is a belief by<br />
consumers that lab-created diamonds<br />
are “better for the planet”?<br />
Another factor to consider is this<br />
slow, but accelerating, move towards<br />
ethical, sustainable and environmental<br />
considerations. What the synthetic<br />
diamond industry’s push is that its<br />
diamonds are ‘better for the planet’ than<br />
WORDS TO LIVE BY<br />
“Look<br />
after your<br />
customers<br />
every step<br />
of the way.”<br />
natural diamonds. At first blush you think<br />
about the scar a natural diamond mine<br />
causes to the landscape, the roads and<br />
machinery required to process the ore<br />
and you could agree. But like anything it<br />
is far more complex. Production of<br />
synthetic diamond requires its own heavy<br />
machinery and is very energy intensive.<br />
Better questions to ask are - what are the<br />
policies about returning mined land back<br />
its original state? What are the employment<br />
outcomes and conditions of work for the<br />
people involved in each industry? How is<br />
the energy required generated?<br />
What are the regimes being supported<br />
through the production process? Thinking<br />
about those and doing a little research,<br />
particularly with COVID still around, might<br />
make you reassess.<br />
Looking forward to 2023, what trends are<br />
you anticipating across the industry?<br />
I actually think the industry is doing a great<br />
job of managing lab-created diamonds<br />
as this new product. Competition is good<br />
enough for pricing to be determined by the<br />
market with no dominant players causing<br />
distortions.<br />
Information is freely available and the<br />
consumer is able to make an informed<br />
choice, should they make an effort.<br />
Disclosure is largely excellent, with the<br />
occasional exception and little nit picking<br />
here and there over terminology.<br />
New tools are being developed to allow<br />
gemmologists and jewellers to more<br />
reasonably and cheaply test diamonds.<br />
For now there is balance, but better<br />
synthetics will be developed and testing<br />
will need to catch up and as always, trust<br />
and integrity will remain paramount for<br />
the entire industry to flourish. i<br />
<strong>December</strong> <strong>2022</strong> | 25
WHAT DO JEWELLERS THINK?<br />
DIAMOND SPECIALIST<br />
Always place your business<br />
in a position to succeed<br />
Charles Rose <strong>Jeweller</strong>s<br />
with Asher Rose, Chief Operations Officer<br />
Est. 1923 • Years in Trade 4 • Location Melbourne, VIC<br />
charlesrose.com.au<br />
Have you noted a substantive interest<br />
and request for lab-created diamonds<br />
from over the past 12-24 months?<br />
We have witnessed an increase in requests<br />
for lab-created diamonds, however the<br />
overwhelming majority of interest remains<br />
in natural stones.<br />
This trend is reflected both in what we term<br />
our “general jewellery” category, as well as<br />
our range of engagement rings.<br />
While there is interest in lab-created<br />
diamonds, we equally deal with customers<br />
who actively avoid them and are focused<br />
purely on natural diamonds.<br />
The increase in interest in lab-created<br />
diamond pieces has not impacted our<br />
natural diamond sales at all, with us<br />
continuing to have strong interest and<br />
sales in the category.<br />
My feeling is that the lab-created vs natural<br />
diamond argument is somewhat moot, with<br />
a focus on the customer being paramount.<br />
The fundamentals have not changed, with<br />
the need to have absolutely exceptional<br />
product quality and customer experiences<br />
remaining the priority, which is how our<br />
company looks to differentiate itself.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
We have found it challenging to find suitable<br />
staff recently.<br />
There have been reported issues across<br />
multiple industries, which could be a factor,<br />
however we are also extremely particular<br />
with the people that we look to include in<br />
our team.<br />
There is a range of factors that we look<br />
for depending on the role and required<br />
experience level.<br />
We are incredibly lucky to have the team<br />
we have, with all parts needing to operate<br />
effectively and efficiently for us to succeed<br />
together.<br />
This extends beyond just our consultants,<br />
to our jewellers, support and administration<br />
teams.<br />
Our team is very dedicated, with over half<br />
our people having been with us for doubledigit<br />
years, a portion of those are 30+.<br />
Being the fourth generation representative<br />
in my family business, it is amazing to think<br />
that there are people that I get to work with<br />
who I cannot even remember meeting.<br />
They have been a part of my life for as long<br />
as I can remember!<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
There are an infinite number of factors to<br />
consider when building our forecasts for<br />
the next 12 months.<br />
Both micro and macro factors are<br />
important, so it is difficult to come to a<br />
precise, quantifiable “out of ten” number.<br />
Locally, and internationally, there feels to be<br />
a lot of uncertainty and concern which has<br />
potential to become a critical consideration.<br />
International unrest also has implications<br />
for things like the availability of the (very<br />
particular) goods we go looking for, as<br />
well as their prices, and therefore our own<br />
competitiveness in a very busy market.<br />
Having said that, we are confident and<br />
excited for the next 12 months and what<br />
we think it will bring.<br />
We are very much a forward looking<br />
business and are continually working to<br />
put ourselves and our teams in positions<br />
to succeed.<br />
WORDS TO LIVE BY<br />
“Quality,<br />
beauty and<br />
timelessness<br />
in every<br />
design.”<br />
This is always irrespective of the broader<br />
factors at play.<br />
Do you see jewellery chain stores as<br />
being a larger or lesser threat to your<br />
business over the next five years?<br />
The idea of threats or competition is<br />
something that extends much further<br />
than only something like “chain stores”<br />
or, as a luxury jewellery house, even<br />
our more direct competitors.<br />
The reality of the situation is that we no<br />
longer only compete with other jewellers,<br />
we compete with “life”.<br />
Previously, when a couple got engaged, it<br />
was perhaps more “assumed” that there<br />
would be a diamond engagement ring<br />
involved.<br />
This simply is not as much the case<br />
anymore.<br />
<strong>Jeweller</strong>y is now a discretionary, rather<br />
than an essential purchase with people<br />
asking themselves important questions<br />
when it comes to their spending.<br />
Would they rather put their money towards<br />
their actual wedding? How about towards<br />
a house deposit? Or honeymoon? Or preexisting<br />
life expenses?<br />
People are also selecting “less-traditional<br />
engagement rings”.<br />
It is critically important to be dynamic and<br />
quick to adjust - always, but particularly in<br />
the current environment.<br />
Value is something that we really stand<br />
behind - we are not the cheapest jeweller<br />
in the market by any means, and we never<br />
will be.<br />
What we provide is a service and product<br />
that we believe to be superior and, yet even<br />
for the price, provides exceptional value to<br />
our customers. i<br />
26 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
DIAMOND SPECIALIST<br />
Customers desire quality<br />
jewellery - so give it to them!<br />
Linney’s <strong>Jeweller</strong>y<br />
with Justin Linney, Creative director<br />
Est. 1972 • Years in Trade 15 • Location Perth, WA<br />
linneys.com.au<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits<br />
over the past 12 months?<br />
There was much more appreciation for<br />
locally produced goods and shorter wait<br />
times on custom orders.<br />
With the gold price increasing over the<br />
last few years, it has put a spotlight on<br />
the value of gold.<br />
Over the past 12 months, we’ve noticed<br />
a strong increase in website browsing,<br />
which is ultimately leading to purchase.<br />
We’re finding more and more customers<br />
will select a favourite piece online<br />
before heading into one of our physical<br />
showrooms.<br />
Rather than visiting one of our showrooms<br />
for advice, there has definitely been<br />
an increase in customers doing initial<br />
research from the comfort of their own<br />
homes before visiting us in person.<br />
Despite this, people investing in fine<br />
jewellery often still want to be educated<br />
on the products by our highly trained<br />
salespeople, gaining personalised advice<br />
for their enquiry.<br />
Have you noticed any major change to<br />
consumer behaviour in the past 5 years,<br />
particularly due to COVID?<br />
Since COVID there is certainly more<br />
preparedness from clients to shop and<br />
transact online.<br />
We’re definitely seeing more sales<br />
enquiries handled over the phone,<br />
email - even text messages.<br />
Another notable change in the past five<br />
years is a movement towards high quality<br />
items that last instead of fast fashion that<br />
becomes landfill - this flows into luxury<br />
fashion items including jewellery.<br />
In 2020/2021 we noted an increase<br />
in diamond sales, as more and more<br />
consumers view this as a long-term<br />
investment.<br />
Local manufacturing, shopping and<br />
wait times were also at the forefront of<br />
consumer buying considerations.<br />
Looking forward to 2023, what trends are<br />
you anticipating in consumer behaviour?<br />
Consumers are more time poor, therefore<br />
they expect a much faster response rate<br />
to enquiries. We’re also seeing a decrease<br />
in store visitation timelines - people want<br />
to get in and out.<br />
We’re expecting sales to stay strong,<br />
however people are planning overseas<br />
travel which means the opportunity to<br />
purchase luxury items overseas increases<br />
and spending locally decreases across the<br />
board.<br />
Are there any changes brought on by the<br />
pandemic that are here ‘for good’?<br />
One change that will stick around is<br />
the desire to support local businesses.<br />
Customers are more conscious of<br />
shopping local and being aware of<br />
where products are made.<br />
With the huge supply chain issues<br />
caused by COVID, it really highlighted the<br />
difference between locally made products<br />
and overseas products.<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
9 - We’re very confident in the market and<br />
our product.<br />
We are beyond excited to launch our latest<br />
50th Anniversary collections and look<br />
forward to showcasing these designs to<br />
our customers over the next 12 months.<br />
As noted, we are aware that more people<br />
will travel and spend more overseas;<br />
however, they will continue to invest in<br />
timeless jewellery pieces, especially<br />
pearls and pink diamonds.<br />
WORDS TO LIVE BY<br />
“Choose your<br />
battles<br />
wisely.”<br />
I believe the younger market is and will<br />
continue to look at gold differently and<br />
appreciate it more as a precious metal<br />
that can withstand downturns in the<br />
economy.<br />
What do you think might be the most<br />
significant challenge your business will<br />
face in 2023?<br />
The most significant challenge we will<br />
face will be staffing.<br />
Ensuring we have enough highly trained<br />
staff for our three showrooms, allowing us<br />
to provide the best service and knowledge<br />
around selling from the collection but<br />
also custom making jewellery.<br />
Do you see jewellery chain stores as<br />
being a larger or lesser threat to your<br />
business over the next five years?<br />
Chain stores form a big part of the<br />
jewellery industry but they will be a lesser<br />
threat to our business over the next five<br />
years as customers will be increasingly<br />
aware of manufacturing and quality<br />
considerations around all the products<br />
they are buying.<br />
We strongly believe that this will highlight<br />
the difference between fine jewellery and<br />
mass produced jewellery.<br />
Have you noted interest for lab-created<br />
diamonds from your customers over the<br />
past 12-24 months?<br />
No, as a business we have not had any<br />
requests for lab grown diamonds over<br />
the past 12-24 months.<br />
Linneys don’t intend on using lab-created<br />
diamonds as they don’t align with our<br />
product offering or values as a company.i<br />
<strong>December</strong> <strong>2022</strong> | 27
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP HEAD<br />
May your profits be high,<br />
and your overheads low<br />
Nationwide <strong>Jeweller</strong>s<br />
with Glen Pocklington, General manager<br />
Est. 1991 • Years in Trade 1 • Location Gordon, NSW<br />
jgbs.com<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
The entire industry was surprised by the<br />
significant surge in jewellery sales post<br />
lockdowns, and equally surprised that<br />
these increases have not abated.<br />
The main factors appear to have been<br />
consumers spending a lot of the money<br />
that they saved during lockdowns, the<br />
significant amount of money normally<br />
spent on overseas trips now being spent<br />
locally and further growth in demand for<br />
custom made jewellery.<br />
Can you comment on online retailing?<br />
With our new Shopify websites many<br />
members are achieving substantial online<br />
sales, and importantly most of these sales<br />
are new customers. Members are also<br />
reporting that many customers are browsing<br />
their online stores first before coming in to<br />
view and purchase those items.<br />
Have you noticed any new trends or<br />
changes in consumer product preference<br />
over the past 12 months?<br />
Both gold jewellery and diamond jewellery<br />
have seen the largest increases in sales,<br />
with both categories up about 100 per cent<br />
on 2019.<br />
Have you noted a substantive interest in<br />
laboratory-created diamonds over the<br />
past 12-24 months?<br />
Consumer demand for lab-created<br />
diamonds started to increase late last year<br />
and is continuing to grow. The same trend<br />
has occurred in the UK and US jewellery<br />
industry.<br />
Has that interest translated to more - or<br />
less - sales of natural diamond jewellery?<br />
Fortunately, sales of lab-created diamonds<br />
have been ‘extra’ sales and have not reduced<br />
sales of natural diamonds.<br />
Has the average selling price of a<br />
diamond ring changed since the labcreated<br />
diamonds have gained more<br />
prominence with consumers?<br />
Generally diamond prices have increased,<br />
partly because of the regulations prohibiting<br />
the purchase of diamonds from Alrosa<br />
cutting supply by 30 per cent and partly due<br />
to the strengthening US dollar.<br />
Thinking back to say, 2012, what is the<br />
most significant change to the industry in<br />
the past 10 years?<br />
Australian jewellery sales were flat, with<br />
some small declines from 2014 to 2020.<br />
The post pandemic sales surge is one of the<br />
most significant changes to the industry.<br />
Clearly we would all like to see these<br />
higher levels of demand for jewellery<br />
continue. The test will be in 2023 – will<br />
high inflation and increases in living costs<br />
dampen sales growth?<br />
We also saw an increased market share – a<br />
large number of jewellery stores in Australia<br />
closed their doors over the seven years,<br />
from 2013 to 2020.<br />
We estimate that over 400 stores, or 12 per<br />
cent of all retail jewellers closed. As a result<br />
the increase in jewellery sales has been split<br />
between fewer jewellery stores.<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
Probably 7 to 8 out of 10.<br />
Despite the economic pressures on<br />
consumers, we believe that most<br />
independent jewellers will continue to enjoy<br />
buoyant trading because they have attracted<br />
quite a few new customers over the last two<br />
years due to their repair and manufacture<br />
services, and the growth in demand for<br />
custom design jewellery will continue.<br />
WORDS TO LIVE BY<br />
“Work on<br />
your business,<br />
not in your<br />
business.”<br />
What do you think might be the most<br />
significant challenge your members will<br />
face in 2023?<br />
We continue to assist our members by<br />
trying to understand what is occurring in<br />
the economy and how it may impact on the<br />
jewellery industry. This helps us to provide<br />
our members with the necessary strategies<br />
and tools to succeed through all cycles of<br />
the economy.<br />
The Global <strong>Jeweller</strong>s Network - our<br />
alliance with The Company of Master<br />
<strong>Jeweller</strong>s (UK) and Independent Jewelers<br />
Organisation (USA) provides us with very<br />
valuable market intelligence.<br />
Many industry trends emerge in these<br />
larger markets before we see them in<br />
Australia and New Zealand.<br />
The collective knowledge of our three<br />
buying groups, representing more than<br />
1,500 independent jewellery stores is a<br />
valuable asset, which will deliver benefits<br />
to our membership in the years ahead.<br />
Do you see jewellery chain stores as<br />
being a larger or lesser threat to your<br />
business over the next five years?<br />
Chain stores are not a threat to a large<br />
proportion of independent jewellers,<br />
because they don’t overlap significantly<br />
in the market in terms of products and<br />
services.<br />
In the past 18 months we have provided<br />
members with resources and skills in<br />
areas such as inventory optimisation and<br />
access to data on the best selling suppliers<br />
and products in the market. These are key<br />
aspects of ‘retail science’ that the chain<br />
stores employ, and now our members<br />
are enjoying the same benefit in their<br />
businesses. i<br />
28 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: NATIONWIDE<br />
Education key to strong<br />
relationships with customers<br />
Creations <strong>Jeweller</strong>y and Designers<br />
with Greg Macintyre, Owner<br />
Est. 1999 • Years in Trade 23 • Location Fremantle, WA<br />
creationsjewellery.com.au<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
The most significant challenge in <strong>2022</strong> was<br />
the pandemic restrictions, primarily the<br />
unknown regarding the borders opening<br />
in Western Australia.<br />
We had gone from a fairly consistent<br />
amount of work through our workshop<br />
and reasonable retail sales to experiencing<br />
weeks of highs and lows with no consistency.<br />
We were either very busy or periods of being<br />
quiet, especially in retail sales.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
We have been fortunate that we have<br />
long-term employees that have been<br />
with us for a number of years.<br />
We also managed to hire another jeweller<br />
after searching for a couple of years so<br />
able to keep more work in-house instead<br />
of outsourcing.<br />
One of the keys to keeping the staff has<br />
been to try and be flexible regarding rosters<br />
and work around their schedules whilst<br />
maintaining our requirements.<br />
Have you made any changes now that<br />
lockdowns are behind us?<br />
Our strategies at present are the same but<br />
we are looking to review our media presence<br />
and operations in the new year.<br />
Whether that includes having an online store<br />
and new retail software and what the reward<br />
is in relation to the investment.<br />
Are you paying more or less tenancy costs<br />
(rent/lease, outgoings etc) than you were<br />
in <strong>December</strong> 2019?<br />
We are paying slightly higher rent than in<br />
2019 pre-COVID but have been able to fix our<br />
rent for three years at the same rate.<br />
Out-goings are more in line with rising<br />
utility costs.<br />
Have you noticed any new trends<br />
or changes in consumer product<br />
preference?<br />
Silver jewellery is still trending well with<br />
simple contemporary pieces and fine gold<br />
jewellery being the biggest sellers.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits<br />
over the past 12 months?<br />
As the price of gold has continued to climb<br />
we are finding it difficult to source products<br />
within certain price points and designer<br />
brand gold plated silver is selling more.<br />
There has also been a lot more people<br />
becoming aware of laboratory grown<br />
diamonds and we are selling more<br />
compared to the mined diamonds because<br />
of the quality for price differential.<br />
Are you selling more 18-carat gold<br />
jewellery than you were five years ago?<br />
In terms of engagement and wedding rings<br />
we are selling more but general jewellery is<br />
almost nothing.<br />
There has been a decline in 18-carat gold<br />
over past 10 to 15 years because of range<br />
of stock available through suppliers and the<br />
price of the jewellery.<br />
Are you selling more colour gemstone<br />
jewellery than you were five years ago?<br />
We are selling a similar amount of<br />
coloured stone jewellery to what we<br />
were five years ago.<br />
Are you selling more pearls and pearl<br />
jewellery than you were five years ago?<br />
Pearl sales have dropped off over the past<br />
five years.<br />
WORDS TO LIVE BY<br />
“get inspired<br />
and bring<br />
your ideas<br />
to life.”<br />
What is the most significant change to<br />
the industryin the past 10 years?<br />
The biggest change for us has been<br />
fewer traveling salesmen from suppliers<br />
coming to show their product in-store<br />
were you could touch and feel it. A number<br />
of suppliers are now B2C and you don’t<br />
always get a good idea of the product from<br />
catalogues or online stores.<br />
Are there any products that have<br />
surprised you in sales performance?<br />
Ten years ago we were in the grip of the<br />
biggest jewellery trend for decades with<br />
Pandora and the same customers visiting<br />
the store sometimes on a weekly or even<br />
daily basis.<br />
But now that we no longer sell Pandora<br />
and the hype has gone from the market<br />
we are back to seeing regular customers<br />
two or maybe three times a year unless<br />
it is jewellery repairs. Less discounting<br />
and more focus by the industry as a whole<br />
to educate the market that we are selling<br />
precious items that good quality and<br />
good workmanship comes at a price not<br />
to be bartered with like an item from a<br />
flea market.<br />
How confident are you for the next<br />
12 months in terms of sales or profit?<br />
I can see sales declining and profitability<br />
reducing through wage pressure and<br />
utility costs.<br />
What do you think might be the most<br />
significant challenge your business will<br />
face in 2023?<br />
The most significant challenge will be<br />
consumer spending confidence given<br />
the state of the world economy and its<br />
uncertainty, along with interest rate rises<br />
and lack of overseas tourism. Also the<br />
possible re-emergence of major COVID<br />
outbreaks again. i<br />
<strong>December</strong> <strong>2022</strong> | 29
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: NATIONWIDE<br />
Competition is good for<br />
business - embrace it!<br />
Byrnes <strong>Jeweller</strong>s<br />
with Allison English, Owner<br />
Est. 1970 • Years in Trade 22 • Location Mudgee, NSW<br />
byrnesjewellers.com.au<br />
Thinking back to say, 2012, what is the<br />
most significant change to the industry<br />
in the past 10 years?<br />
I’m sure many would agree that the<br />
industry has changed significantly in the<br />
past decade and to name three big shifts -<br />
online sales, discounting and ‘branding’.<br />
I must say that I’m not a fan of any of the<br />
three!<br />
My business places a fair and honest<br />
markup on our goods. Why should the<br />
customers that visit my store feel the<br />
need to barter?<br />
I don’t mark my stock up just so that it<br />
can be discounted later. Customers need<br />
to value the products and services that<br />
we are selling and I feel that chain stores<br />
have ruined this with constant ‘sales’ and<br />
promotions.<br />
I pay the rent, the wages and the on-going<br />
costs and expenditures of a bricks and<br />
mortar store.<br />
I also deal with the public, arrange<br />
displays, and pay for and hopefully sell<br />
the products. It’s my business!<br />
Wholesalers should be grateful that I<br />
decided to purchase their goods.<br />
I don’t want to be the guinea pig for a<br />
company trying to get into the market<br />
who will eventually open their own store,<br />
or simply shift to selling online.<br />
I think the time has come for suppliers to<br />
decide if they want to be wholesalers or<br />
retailers and to stop attempting to straddle<br />
the fence and operate as both.<br />
Ae there any products that have surprised<br />
you in sales performance?<br />
Our diamond engagement rings were a<br />
bit hit and miss, however we have grown<br />
this category with the help of Nationwide<br />
<strong>Jeweller</strong>s and Reine Jewels in custom<br />
design and training.<br />
Lab-created diamonds are a big thing at<br />
the moment, particularly with the<br />
younger generation.<br />
The youngest consumers in my<br />
experience are hoping to get<br />
bigger show for their ‘dough’.<br />
What is one change you’d like to see<br />
within the jewellery industry?<br />
I would like to see more independant<br />
jewellery stores and for them to band<br />
together in whatever way possible to<br />
support one another.<br />
My personal feeling is that chain stores<br />
have cheapened the industry.<br />
Yes there is a market for them, but please,<br />
I don’t believe my business belongs in the<br />
same ‘category’ as a chain store.<br />
My staff don’t tell customers that “two<br />
nine-carat items, make 18-carats” or<br />
that “we don’t stock A, B or C diamonds?”<br />
There are simply too many differences<br />
between the way a chain store operates<br />
compared with a small independent<br />
business for them to be appropriately<br />
judged side-by-side.<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
At the lowest point I would say an 8 in<br />
confidence, at the highest point I would<br />
say a 10.<br />
Going off sales figures from my business<br />
over the past five years, performance is<br />
improving every year and I can’t foresee<br />
a specific reason why that shouldn’t<br />
continue. Staffing would be my only<br />
concern.<br />
Where have they all gone!<br />
WORDS TO LIVE BY<br />
“Time is the<br />
ultimate<br />
critic.”<br />
What do you think might be the most<br />
significant challenge your business will<br />
face in 2023?<br />
Staffing. Labour shortages and the<br />
impact staffing issues are having on small<br />
business has been well documented in<br />
the media in Australia this year.<br />
It’s a problem that started during the<br />
pandemic and in my experience, hasn’t<br />
exactly improved since.<br />
It’s been a frustration this year and I<br />
could easily see it continuing to be a<br />
problem in the future unless something<br />
drastic changes.<br />
Do you see jewellery chain stores as<br />
being a larger or lesser threat to your<br />
business over the next five years?<br />
Up until about seven years ago we had<br />
three independent jewellery stores in our<br />
town of 10,000.<br />
Despite what you would think would be an<br />
easy recipe for rivalry, all three got along<br />
and helped one another out.<br />
We now have Prouds and ourselves – the<br />
other two independent stores are closed!<br />
Competition is good for business and<br />
our focus has been slowly educating the<br />
public that you get what you pay for when<br />
it comes to jewellery.<br />
In my experience I don’t think the younger<br />
generation are willing enough to start<br />
a business, put in the hard yards for<br />
a couple of years and then to reap the<br />
rewards.<br />
Delayed gratification and patience is<br />
an important part of the experience of<br />
running a business.<br />
Unfortunately, I suspect most of the<br />
younger generation wants the rewards<br />
from the get go. i<br />
30 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: NATIONWIDE<br />
Battling against online rivals,<br />
keeping the ‘old school’ ways alive<br />
MJ Geldart Designer <strong>Jeweller</strong>s<br />
with Mick Geldart, Owner<br />
Est. 2007 • Years in Trade 43 • Location Port Augusta, SA<br />
mjgeldart.com.au<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
The internet is killing our business –<br />
we can’t compete with what consumers<br />
believe is available online.<br />
‘Believe’ is the key word because when it<br />
comes to shopping for jewellery online, it’s<br />
difficult to have any idea what you’re really<br />
getting – a problem you don’t have when<br />
you shop at stores in person, of course.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year<br />
as Australia and New Zealand began to<br />
‘re-open’ after COVID?<br />
People are just addicted to shopping online,<br />
not just when it comes to jewellery but all<br />
sorts of retail.<br />
When it’s all freely shipped to their homes,<br />
they often don’t have the spare coin at the<br />
end of the day to spend in-person at<br />
a bricks-and-mortar store like ours.<br />
The internet is offering products to<br />
customers at all hours of the day, essentially<br />
no matter where they are. That’s the kind of<br />
access that a store can’t compete with.<br />
The impact of the internet on consumer<br />
attitudes and expectations is something<br />
we’ve noticed more and more the last three<br />
or four years.<br />
The COVID pandemic probably accelerated<br />
things somewhat but I believe it was always<br />
headed in that direction.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits<br />
over the past 12 months?<br />
We’re based in a small town with a<br />
community of approximately 12,000 people<br />
so there’s no significant changes to report<br />
in terms of trends on our end.<br />
We are perhaps seeing a little bit more<br />
interest in lab-created diamonds, people<br />
are slowly becoming more aware of them as<br />
a product and occasionally raise them with<br />
us, but I certainly wouldn’t describe as a<br />
notable phenomenon.<br />
What is the most significant change to<br />
the industry in the past 10 years?<br />
We’ve been here 15 years and the biggest<br />
change has been the impact the internet<br />
has had on the way people shop.<br />
People get onto websites like Blue Nile<br />
and the like and witness these ‘great<br />
deals’ and we can’t compete or price<br />
match with those offers.<br />
We can’t compete with that business<br />
model, it’s just not a level playing field<br />
when you’re being asked to quote against<br />
a massive international companies.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
We’ve scaled back because we’re only a<br />
small business so we don’t need the extra<br />
staff because things have quietened down.<br />
What will be the most significant<br />
challenge your business will face in<br />
2023?<br />
The biggest challenge we will face in the<br />
next year will be 18 months remaining on<br />
our lease, and ultimately whether or not<br />
we keep the business going after March<br />
of 2024.<br />
I’ll be nearly 62-years-old and the stress<br />
you put up with when you’re living this<br />
sort of trade 24/7 – that leaves you with<br />
the biggest question consistently being<br />
whether or not it’s worth it.<br />
I’ve been working in jewellery since<br />
1979 – I’m 60. I started when I was 17,<br />
at a jewellers in Adelaide named Wendts<br />
WORDS TO LIVE BY<br />
“have faith<br />
in your<br />
abilities and<br />
trust your<br />
experience.”<br />
<strong>Jeweller</strong>s, in Rundle Mall.<br />
I started in a workshop with more than<br />
100 years of history and I was taught<br />
using the original mouth-blown bench<br />
torch, which any jeweller reading this<br />
who knows a bit about the history of the<br />
industry will know well.<br />
I saw an ad looking for apprentices from<br />
Wendts and I decided to go along and give<br />
it go – I passed the test and found myself<br />
working at a bench.<br />
I still do things the old way, using an old gas<br />
burner, I don’t use a compressor, because<br />
that’s the way I was taught and that’s what<br />
feels right to me.<br />
In many ways, I’m lucky that I’m a<br />
manufacturer that works at a bench.<br />
I know my skills and can rely on them,<br />
my customers understand the quality of<br />
our work and we have clients that even<br />
come back to visit just for our services.<br />
Thinking about the Australian and/or<br />
New Zealand jewellery industry, if there<br />
was one thing you could hope for, or one<br />
change you’d like to see, what is it?<br />
Anyone reading this who has lived the life<br />
of a manufacturing jeweller who runs his<br />
own store understands the challenge of<br />
both running the store and completing your<br />
work load on the bench.<br />
Usually, you’re hoping that you’ll get six<br />
good hours at the bench but that’s rare<br />
because you need to speak with clients,<br />
you need to speak with customers, and<br />
you need to be present in other ways.<br />
People need help with designs and<br />
customers want to talk through their<br />
ideas – it’s what I’m passionate about<br />
but it’s exhausting too.<br />
It’s an endless stop-and-start challenge. i<br />
<strong>December</strong> <strong>2022</strong> | 31
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP HEAD<br />
Elevating independent retail<br />
with clarity and confidence<br />
Independent <strong>Jeweller</strong>s Collective<br />
with Josh Zarb, Chief Exective Officer<br />
Est. 2020 • Years in Trade 22 • Location Turramurra, NSW<br />
jewellerscollective.com<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
Although our buying group launched in<br />
2020, around the same time as COVID<br />
hit, we are deeply fortunate to still be in<br />
a rapid growth phase. I will comment on<br />
this question as an overview of what I have<br />
seen amongst our retailers. I spend a lot<br />
of my time working inside and alongside<br />
retailer jewellery stores. I can see that in<br />
<strong>2022</strong>, for the first time in two-plus years,<br />
there are no more free passes.<br />
I think <strong>2022</strong> is really telling the story of<br />
who used COVID to better their business<br />
model. The stores that buckled down during<br />
lockdowns (and COVID in general) to focus<br />
on their digital communication strategies,<br />
engagement levels in their databases and<br />
implemented some form of e-commerce<br />
platform or education into their business<br />
have emerged stronger. The stores that did<br />
not use this opportunity to tweak things are<br />
now left to play catch up. Learning how to<br />
step up your communication touch points<br />
across various media was one of the biggest<br />
challenges for <strong>2022</strong>.<br />
Have you made any changes now that<br />
lockdowns are behind us?<br />
We are a young business and have<br />
good touch points with our clients. As we<br />
move forward and evolve, we are trying to<br />
implement as many time saving measures<br />
as we can in the way we interact with our<br />
clients to keep our processes efficient for<br />
everyone.<br />
Our biggest challenge for our business<br />
model currently is the push and pull effect<br />
of marketing. Typically, we produce content,<br />
then stores chose to participate or not, and<br />
this process naturally has many stops and<br />
starts.<br />
From 2023 onwards we will be moving<br />
to more a subscription-based service<br />
model. In this way, we will produce content<br />
continuously for a 24-month period with<br />
stores receiving new content every quarter<br />
(both print and digital). Our business model<br />
was designed around this, and provides all<br />
stores with transparent rebates to use on<br />
services such as marketing.<br />
Can you comment on online retailing?<br />
I have commented on this many times over<br />
the years and, overall, I feel that our industry<br />
really struggles with online retailing.<br />
Of course, there are the exceptions, but we<br />
appear to struggle with striking the right<br />
balance in supplier provided e-commerce<br />
ready content, for example professional<br />
imagery, clear or consistent consumerfacing<br />
data and descriptions in which to<br />
assist retailers in this space.<br />
We seem to be moving towards a model<br />
where the suppliers that do this well, trade<br />
direct and therefore take the retail margins.<br />
I wish we had an industry in which suppliers<br />
could identify smaller ranges within their<br />
full collections and have e-commerce<br />
friendly content ready to provide on to retail.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits<br />
over the past 12 months?<br />
COVID taught everyone how to shop from<br />
home. Although now we are past lockdowns<br />
and have returned to a more normal<br />
shopping pattern, the fact is everyone<br />
conducts research before purchase either<br />
online or in store.<br />
Consumers now expect a comprehensive<br />
digital representation of your retail offering<br />
online. This may be via beautiful image<br />
rich educational websites, social media for<br />
manufacturing-based jewellery retailers or<br />
neat and tidy (ranged by category) product<br />
selections for those with e-commerce<br />
stores. The websites that are patchy with<br />
WORDS TO LIVE BY<br />
“Make<br />
tomorrow<br />
brilliant.”<br />
mismatched pages will struggle, and fall<br />
behind in a crowded market. Working from<br />
home or working part-time from home will<br />
not change now and your digital footprint is<br />
just as important as your retail shopfront.<br />
Have you noted a substantive interest in<br />
laboratory-created diamonds over the<br />
past 12-24 months?<br />
I can see substantial increases in the<br />
interest for lab-created diamonds through<br />
our retail network. I see this via enquiries<br />
through the stores and at a purchase level.<br />
Looking at our group data, purchases for<br />
lab-created diamonds are up approximately<br />
38 per cent over the past 12 months, and we<br />
can expect the sell through increases to be<br />
similar.<br />
What I can also see is the number of<br />
suppliers in this space has exploded.<br />
The size of the pie may be getting bigger,<br />
but the number of suppliers selling labcreated<br />
diamonds is crazy. Unfortunately<br />
I can only see prices for lab-created<br />
diamonds continuing to decline for a little<br />
while yet. It is an important balancing act.<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
9. For our business, as a buying group, we<br />
are expecting continued growth over the<br />
next 12 months. We have lots of interest in<br />
joining the group at present.<br />
We will continue to be selective and partner<br />
with proactive retailers that want to share<br />
and support each other. Even though our<br />
business is still young, our team has a<br />
lifetime of jewellery experience and we<br />
remain confident for growth in sales and<br />
profitability next year.<br />
As for same store retail sales, I expect that<br />
to be more challenging and the first few<br />
months next year may be difficult. i<br />
32 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: IJC<br />
Look after your staff and<br />
they will look after your business<br />
Kadia <strong>Jeweller</strong>y<br />
with Kaylene Fitzpatrick, Owner<br />
Est. 2000 • Years in Trade 35 • Location Toronto, NSW<br />
kadiajewellery.com.au<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
Has your sales income increased or<br />
decreased in the past five years ago?<br />
We get fewer and fewer laybys now as<br />
they can take now and pay later.<br />
At the beginning of every year is the<br />
question, “how’s this year going to be?”<br />
<strong>2022</strong> externally bought us the re-opening<br />
of international travel, a new Prime Minister,<br />
and rising interest rates.<br />
Internally we had an increase in gold,<br />
diamonds, and wages. But I know we have<br />
grown into a successful business, and our<br />
main priority is customer service.<br />
This is our staple and is what keeps<br />
customers coming through our doors.<br />
Our staff is trained to make every customer<br />
feel like they are the most important person<br />
who has walked in the door, and we, in turn,<br />
treat our staff as our extended family.<br />
I know it’s an old saying, but “look after your<br />
staff, and they will look after your business”<br />
is true.<br />
Staying positive and genuine about what we<br />
have built this business to be is what I strive<br />
for every year.<br />
<strong>Jeweller</strong>y is such an emotional purchase,<br />
and every customer has a story. We listen,<br />
we laugh, and we cry with them.<br />
Have you made any changes to your<br />
business strategies now that lockdowns<br />
are behind us?<br />
We have dedicated more time to our website<br />
and social media.<br />
One of our staff, Olivia, is our shining star.<br />
Starting with us as a junior on a Saturday<br />
morning four years ago, she has taken to the<br />
jewellery trade by storm.<br />
She spends several hours updating and<br />
uploading our social media accounts weekly.<br />
This works with consistent sales coming<br />
from these channels.<br />
Our business is lucky to have consistently<br />
grown over the last five years, attributed<br />
to hard work and passion for the jewellery<br />
industry.<br />
We are positioned in a small town but<br />
have clients coming to us from all over the<br />
Newcastle, Hunter, and Sydney areas.<br />
Can you comment on online retailing?<br />
One positive that came out of COVID and<br />
the lockdown was time to concentrate on<br />
our website.<br />
We added a Shopify platform, and a “try me<br />
on” app so customers could have a virtual<br />
experience with our jewellery.<br />
Online sales were consistent during the<br />
lockdown but have slowed down during<br />
<strong>2022</strong>.<br />
The website, though, is doing its job with<br />
customers screen shopping products and<br />
coming into stores to buy. I love that, as we<br />
also get to have that personal interaction<br />
with them.<br />
Have you noticed any new trends<br />
or changes in consumer product<br />
preference?<br />
Our motto is “always unique, always style,<br />
always quality.” Our customers come to<br />
us for something different! This hasn’t<br />
changed for over 22 years.<br />
What is the most significant change to<br />
the industry the past 10 years?<br />
The different social media platforms that<br />
consumers can now buy from.<br />
It keeps us on our toes as there is no<br />
downtime. You can get emails, texts, and<br />
online sales 24 hours a day.<br />
Also, all the payment options are available!<br />
WORDS TO LIVE BY<br />
“Always<br />
unique,<br />
always style,<br />
always<br />
quality.”<br />
Every store is different, but we find that<br />
catalogues are not necessary for our area.<br />
They go online and then come in-store.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits?<br />
Lab-created diamonds! I was one of those<br />
sitting on the fence about lab-created<br />
diamonds, being stubborn and faithful<br />
to natural diamonds.<br />
But customers have changed my mind<br />
with a growing demand for custom-made<br />
lab-created diamond engagement rings.<br />
They want big but with a budget.<br />
Are there any products that surprise you<br />
in terms of sales performance?<br />
I would have laughed if you had told me 10<br />
years ago that we would be selling fashion<br />
jewellery, but here we are selling loads of<br />
branded costume jewellery.<br />
It is fun, fashionable, and affordable.<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
8. As I mentioned previously, we are<br />
fortunate enough to have experienced<br />
growth over the past five years.<br />
What do you think might be the most<br />
significant challenge your business will<br />
face in 2023?<br />
Getting older! Who knows. Let’s get through<br />
this year and then we can take on 2023.<br />
Do you see jewellery chain stores as being<br />
a larger or lesser threat to your business?<br />
I try not to give any thought or energy<br />
towards chain stores. We are two different<br />
businesses. i<br />
<strong>December</strong> <strong>2022</strong> | 33
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: IJC<br />
Overcoming staffing challenges<br />
after two strong years of sales<br />
Pettits <strong>Jeweller</strong>s<br />
with Tarisa Hancock, Owner<br />
Est. 1890 • Years in Trade 12 • Location Warragul, VIC<br />
pettits.com.au<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
Having the right staff. Additionally, another<br />
major challenge - if not the biggest of<br />
all - is dealing with customers, especially<br />
handling attitudes when we aren’t able to<br />
accommodate requests quickly enough.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
Once again the answer to this one is<br />
having staffing. Not only do you need to<br />
have enough staff - you also need to find<br />
the right staff.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
This has been a major issue for our<br />
business.<br />
It’s also a challenge to arrange training<br />
and to ensure that staff are an appropriate<br />
‘fit’ with the rest of the team.<br />
Have you made any changes now that<br />
lockdowns are behind us?<br />
How to move forward from COVID has<br />
been just about the big question of all.<br />
Behind the scenes planning in advance<br />
has been the biggest change.<br />
In <strong>December</strong> <strong>2022</strong>, are you paying more<br />
or less tenancy costs than you were in<br />
<strong>December</strong> 2019?<br />
We are paying increased costs but nothing<br />
exceeding the normal CPI increase.<br />
Has your sales income increased or<br />
decreased in the past five years ago?<br />
We have had two amazing years even when<br />
dealing with COVID.<br />
I feel that we have come off our<br />
‘honeymoon phase’ now are and getting<br />
back to reality. We used this time to<br />
introduce new products in our store,<br />
mostly a hit with our customers but<br />
some unfortunately not as good.<br />
Can you make any comment on online<br />
retailing?<br />
Our online is very small and something<br />
I will be concentrating on in the new year<br />
to improve in the business.<br />
Have you noticed any new trends<br />
or changes in consumer product<br />
preference?<br />
Lab-created diamonds are the new trend<br />
for our business and it’s a product that’s<br />
been performing well.<br />
We have also noticed a change in the<br />
coloured gemstone dress rings, with a<br />
move going towards smaller designs that<br />
can also be worn on your pointer finger!<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits?<br />
Customers tend to study a lot more<br />
before coming into our store, especially<br />
when it comes to engagement rings.<br />
We have found that we do more quoting<br />
for customers and the general ‘come in<br />
and purchase from the shelf’ crowd is<br />
decreasing.<br />
Have you noticed any major change to<br />
consumer behaviour in the past 5 years,<br />
particularly due to COVID?<br />
The only major change I’ve observered<br />
would be patience – or perhaps it’s<br />
better to say a lack of patience.<br />
The expectation is that businesses<br />
have absolutely everything available<br />
at our finger tips at all times.<br />
As I previously mentioned, customers also<br />
tend to be knowledgeable because they’re<br />
studying lot more before coming in.<br />
WORDS TO LIVE BY<br />
“It’s all<br />
the little<br />
things that<br />
make a big<br />
difference.”<br />
On a scale of 1 to 10 – how confident<br />
are you for the next 12 months in terms<br />
of sales and profitability?<br />
5. To be honest it’s difficult to forecast<br />
the future – I am nervous going into<br />
2023 with how the economy is travelling,<br />
however, only time will tell.<br />
What do you think might be the most<br />
significant challenge your business<br />
will face in 2023?<br />
Ensuring that the business stays alive!<br />
We are in a country location with two<br />
other jewellers sharing the same strip<br />
as us.<br />
As I mentioned earlier, staffing has been<br />
a significant challenge we’ve had to<br />
overcome and I don’t see any specific<br />
reason to believe that will change<br />
moving forward.<br />
Do you see jewellery chain stores as<br />
being a larger or lesser threat to your<br />
business over the next five years?<br />
Chain stores are a significant threat to us,<br />
as they are able to offer customers more<br />
bang for their buck.<br />
We can’t compete in that regard.<br />
However, in this there is a different in<br />
quality – not to talk down other products!<br />
Chain stores are more mass produced<br />
products whereas we care more<br />
customer-orientated.<br />
This does mean higher prices so it should<br />
be said that we aren’t really comparing<br />
apples to apple here.<br />
Sometimes, customers struggle to<br />
understand the difference between an<br />
independent small business and a chain<br />
store – especially when budget is tight<br />
for them. i<br />
34 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: IJC<br />
Modern business ownership is<br />
life without an off switch<br />
Turramurra <strong>Jeweller</strong>s<br />
with John Thearle, Owner<br />
Est. 1995 • Years in Trade 36 • Location Turramurra, NSW<br />
turramurrajewellers.com.au<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
The most significant challenge has been<br />
staffing and planning.<br />
No one could tell you what was going to<br />
happen in terms of the pandemic and<br />
restrictions so all the planning you tried<br />
to do really involved guess work.<br />
It was all a bit of a gamble and finding any<br />
concrete information was a huge challenge.<br />
I’m basically self-employed with a few parttime<br />
staff and finding someone to replace<br />
them with regular hours, who knows what<br />
they’re doing, can be a real challenge.<br />
Once you lose one person it can make a<br />
huge difference on a small team.<br />
We’ve had plenty of headaches with supply,<br />
even something as simple as finding stones<br />
can be frustrating.<br />
I think I’ve got a good network of contacts<br />
I can speak with and I’m often surprised<br />
at how little there seems to be out there,<br />
especially when you’re after something<br />
specific.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
I was surprised when everyone was talking<br />
doom and gloom about jewellery as a trade,<br />
I think it’s impressed me just how strong<br />
business has been.<br />
I thought it might’ve dropped off a little bit<br />
but we are finding things are going well.<br />
Can you comment on online retailing?<br />
I’m not big in the social media space –<br />
we’ve got business accounts but it’s not<br />
a huge focus.<br />
I think people learned in lockdown that you<br />
can do things online and that’s convinced a<br />
lot of people that it’s the way to go.<br />
I’m sure a lot of other businesses have the<br />
experience too of customers coming in with<br />
glossy photos of diamonds and jewellery<br />
they’ve found online and they’re hoping their<br />
local jeweller will price match them.<br />
Sometimes they’re just hoping we will offer<br />
something comparative, which quite frankly,<br />
we just can’t do, it’s unrealistic.<br />
Besides, I think a lot of the content<br />
customers are exposed to online doesn’t<br />
match what they’ll receive anyway.<br />
It’s easy to be led astray by what you see<br />
online for sure, even when you’re trying to<br />
exercise a bit of caution.<br />
The other aspect with online sales is the<br />
quick turnaround – people want instant<br />
responses and instant results. We’re all<br />
very busy day to day!<br />
Makes me think back to when you’d write<br />
a letter and wait for someone to get back<br />
to you.<br />
These days if they contact you online and<br />
you don’t reply essentially instantly, they<br />
form a negative view of your business.<br />
Often, when you do find something, you<br />
need to make a decision quickly too –<br />
people want a quick turnaround these days<br />
as I’m sure many people reading this will<br />
know well.<br />
What do you think might be the most<br />
significant challenge your business will<br />
face in 2023?<br />
I think the biggest challenge is just going<br />
to be increasing my online presence and<br />
finding a way to plan effectively for the<br />
future.<br />
Running a business now is certainly more<br />
of a 24 hours, 7 days a week kind of thing,<br />
more than ever before I certainly think.<br />
There’s no off switch anymore unless you<br />
WORDS TO LIVE BY<br />
“Stand your<br />
ground.”<br />
go out of your way to be strict about it,<br />
which can cost you unfortunately.<br />
Everyone needs down time and peace of<br />
mind – you can’t afford to become burned<br />
out, particularly when you’re the owner.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits<br />
over the past 12 months?<br />
People are moving away from white gold<br />
I think, yellow gold is the more popular<br />
request, and colour gemstones in general<br />
are very strong in my experience, compared<br />
with diamonds certainly.<br />
Have you noted a substantive interest for<br />
laboratory-created diamonds from your<br />
customers over the past 12-24 months?<br />
Lab-created diamonds have certainly added<br />
another element to jewellery landscape and<br />
how that impacts long-term diamond sales<br />
will be interesting to see.<br />
I’ve taken a small interest in the category<br />
but who knows how it’s all going to play<br />
out – there’s so much information out there,<br />
it’s hard to form any sort of certain feeling.<br />
What is the most significant change to<br />
the industry in the past 10 years?<br />
People are certainly more knowledgable<br />
when it comes to gemstones and diamonds<br />
in general – these days they’re more likely<br />
to come to me telling me what they’re after,<br />
whereas in the past most customers would<br />
rather go to a jeweller for guidance.<br />
I think it’s coming from a rising level of<br />
awareness about what’s out there.<br />
There’s so much on the internet these days<br />
– it’s easy for people with an interest to find<br />
something that really appeals to them.<br />
The growth of CAD/CAM and automated<br />
design has certainly changed the<br />
manufacturing of jewellery completely. i<br />
35 | <strong>December</strong> <strong>2022</strong><br />
<strong>December</strong> <strong>2022</strong> | 35
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP HEAD<br />
Differentiation the key for<br />
jewellers heading into 2023<br />
Leading Edge Group <strong>Jeweller</strong>s<br />
with Claire Packett, Head of <strong>Jeweller</strong>y<br />
Est. 1980 • Years in Trade 20 • Location Chatswood, NSW<br />
legj.com.au<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
With the reopening of borders and the<br />
return of overseas travel, many retail<br />
businesses have faced ups and downs.<br />
Within the jewellery industry, the<br />
uncertainty towards diamond prices<br />
and availability, the weakening of the<br />
Australian dollar against the US dollar,<br />
the increasing product prices across the<br />
board and the ability to recruit staff are all<br />
enormous challenges the industry faces.<br />
Freighting difficulties leading to longer<br />
and more unreliable delivery times have<br />
also affected the supply chain.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits<br />
over the past 12 months?<br />
The push for e-commerce has led to a<br />
new way of shopping.<br />
Consumers have become more researchorientated<br />
and expect high-quality<br />
products and collections.<br />
Are your members selling more pearls<br />
and pearl jewellery than they were five<br />
years ago?<br />
Pearl jewellery is definitely growing.<br />
With its increasing popularity with<br />
celebrities in the USA, we expect a rise<br />
in sales, especially with the younger<br />
generation and over the holiday period.<br />
Have you noted a substantive interest<br />
and request for laboratory-created<br />
diamonds over the past 12-24 months?<br />
Lab-created diamonds have been gaining<br />
traction in the diamond industry.<br />
Customers purchase them due to different<br />
factors such as budget, environmental and<br />
sustainability concerns.<br />
Sometimes customers simply want better<br />
value than what’s offered from mined<br />
stones.<br />
For better stock turn and profitability,<br />
we always recommend that stores stock<br />
their shelves with lab-created and<br />
natural diamonds so that consumers can<br />
make an educated decision about what<br />
they want.<br />
We have recently seen stores selling<br />
two-in-five diamond engagement rings<br />
made with lab-created diamonds, which<br />
suggests that if your team loves the<br />
product, they will sell them with the<br />
same passion as mined diamonds.<br />
Has that interest in lab-created<br />
diamonds translated to more - or less -<br />
sales of lab-created jewellery?<br />
Lab-created diamond accessories have<br />
increased in popularity, including tennis<br />
bracelets, earrings, and pendants.<br />
Compared to mined diamonds, the size,<br />
look and price of a tennis bracelet in labcreated<br />
diamonds can be very appealing.<br />
Are your members selling more (or less)<br />
bespoke or handmade jewellery now<br />
compared to five years ago?<br />
Since the pandemic, most stores have<br />
seen an increase in their bench work,<br />
with many customers opting for custom<br />
designs and remodelled jewellery.<br />
As a result, many jewellers are<br />
continuing to experience growth in this<br />
area, providing beautiful one-of-a-kind<br />
products to their customers.<br />
Do you think your members will increase<br />
the bespoke or handmade jewellery<br />
category in the next 12-24 months?<br />
This area of jewellery has increased<br />
dramatically over the past few years, and<br />
the market is not showing any signs of<br />
WORDS TO LIVE BY<br />
“You have to<br />
get up every<br />
morning with<br />
determination<br />
if you’re<br />
going to go to<br />
bed with<br />
satisfaction.”<br />
slowing down.<br />
Working with a jeweller to design one-off<br />
items has now become an attractive<br />
option that is often promoted by many<br />
stores to create a sense of luxury,<br />
creativity and individuality with customers.<br />
From custom engagement rings to<br />
remodelled jewellery using special<br />
and unique stones and gold.<br />
This is a market driven by sentiment and<br />
emotions.<br />
As such, stores can easily stand out and<br />
differentiate themselves and the growth<br />
within this jewellery category is uncapped.<br />
Can you comment on online retailing?<br />
Online shopping has helped them find<br />
what they’re looking for when it comes<br />
down to that final decision of purchase.<br />
Ultimately, however, consumers still<br />
prefer face-to-face sales interaction,<br />
where trust can be built.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
Within Australia, staffing has been a<br />
problem for most retail stores due to<br />
limited workplace flexibility.<br />
Whilst more workplaces have been<br />
pushing for better work-from-home<br />
flexibility, the retail industry is unable<br />
to adapt to that requirement.<br />
Instead, it has turned to other benefits,<br />
such as providing a great working<br />
environment and rewarding outstanding<br />
performance.<br />
As a result, incentivising sales<br />
have become more common, with<br />
rewards directly linked to successful<br />
performance. i<br />
36 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: LEADING EDGE<br />
Breaking sales records with<br />
a focus on reliability<br />
Phil Peel <strong>Jeweller</strong><br />
with David Peel, Owner<br />
Est. 1962 • Years in Trade 41 • Location Rockhampton, QLD<br />
philpeeljewellers.com.au<br />
What’s the most significant challenge your<br />
business faced in <strong>2022</strong>?<br />
One of the most significant challenges we<br />
faced was the supply turn-around and delays<br />
in stock availability. It was sometimes taking<br />
six to eight weeks if not more, instead of<br />
the usual three to four weeks. It seems to<br />
be improving a little bit lately from some<br />
suppliers, but I think the demand is still<br />
outstripping supply at the moment.<br />
I thought the biggest challenge we would<br />
face would be a drop in sales as people<br />
returned to life post- COVID and started<br />
travelling again, but that hasn’t been the<br />
case thankfully. Perhaps this will become<br />
more of an issue in 2023 combined with<br />
the sharp interest rate rises which may<br />
stifle spending.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
The jewellery industry absolutely took off<br />
for many businesses around Australia<br />
now that COVID has hopefully eased. For<br />
us, the demand for repairs and remakes<br />
has gone through the roof and our on-site<br />
repair jeweller is struggling to keep up.<br />
Our ready-made jewellery has also seen<br />
growth, particularly in gold and coloured<br />
stone jewellery.<br />
Has your sales income increased or<br />
decreased in the past five years ago?<br />
We are very surprised that we are still<br />
breaking sales records this year, on top of<br />
our increased sales from 2021. We are<br />
regional, so we had a bit of a hiccup in the<br />
early days of COVID, but we weren’t as<br />
affected by lockdowns like some of the other<br />
states, so for the past 18 months or so,<br />
profitability has still been fantastic.<br />
Have you noticed any new trends or<br />
changes in consumer product preference?<br />
We have found that people are wanting to<br />
support local businesses – the figures tell<br />
us there is still huge growth in online sales<br />
nationally, but for us we have very strong<br />
support for shopping locally and supporting<br />
small businesses.<br />
We have been in Rockhampton for 60<br />
years and are one of the few independent<br />
jewellers left, so we have that history behind<br />
us. Customers comment on our unique<br />
jewellery ranges – we have catalogue<br />
products as well, but thanks to our ability to<br />
select from a huge range of suppliers we are<br />
able to source exceptional pieces as well.<br />
We have a fantastic relationship with our<br />
suppliers, and some we have been dealing<br />
with for 30-40 years. As we have that<br />
strong local branding, we don’t feel we are<br />
competing with the national chains, but<br />
are offering an alternative choice and our<br />
branding is one of quality, reliability and<br />
trustworthiness.<br />
Thinking back to say, 2012, what is the<br />
most significant change to the industry?<br />
One change is the influence of social media,<br />
Pinterest and Instagram. More and more<br />
people bring in pictures of what they are<br />
looking for. I remember when oval diamond<br />
halos and then pear halos were the latest<br />
thing – all the rage! However it can be a<br />
transient and by the time you get stock in<br />
the fad has moved to something new.<br />
Thank goodness the demand for teal<br />
sapphires has slowed!<br />
Clients come in and show a beautifully<br />
photographed picture and the shank is 1<br />
mm wide! We try not to make those sort of<br />
rings – we try to keep the look of the style,<br />
but aim to make something more robust<br />
that is both pretty and practical and will last.<br />
Can you comment on online retailing?<br />
Online sales aren’t a major part of our<br />
business though customers come in with<br />
WORDS TO LIVE BY<br />
“Nothing is<br />
too big or<br />
too small<br />
to focus on.”<br />
pictures from our website and want to see<br />
it in person. Sometimes we sell to people<br />
from the far west who can’t come in, or even<br />
to Perth and Canberra but actual online<br />
sales are not significant for us. Recently,<br />
our buying group Leading Edge has put new<br />
processes in place to help us improve our<br />
web sales - so it’s definitely a focus for the<br />
year to come.<br />
What will be the most significant challenge<br />
your business faces in 2023?<br />
Overcoming customer expectations that<br />
are influenced by overseas online websites<br />
where diamonds are really cheap has been<br />
and will continue to be a challenge.<br />
I try and move their expectations by showing<br />
diamonds we have in stock, and explaining<br />
the differences in quality – sometimes three<br />
diamonds can have the same specifications,<br />
but to the eye they can look totally different. I<br />
enjoy the challenge of overcoming the price<br />
expectations.<br />
We are only just seeing a growth in inquiries<br />
for lab-created diamonds. It has taken a<br />
while to reach regional Queensland and I<br />
think that will see a huge growth in 2023. As<br />
I mentioned before, the interest rates may<br />
stifle consumer spending in retail, so we will<br />
have to be mindful of that with our future<br />
purchasing.<br />
Have you recently had to change the way<br />
you manage your staff?<br />
Our staff are very loyal and some have been<br />
with us long-term. We are pretty low key<br />
with our management style, and as long as<br />
there is cake or chocolate then everyone is<br />
happy! The young ones move to the city for<br />
study and others have left for other work<br />
or personal opportunities, but we have<br />
been very lucky with staff. We had one staff<br />
member who only recently retired and was<br />
with us for 40 years! Thankfully, it is not a<br />
challenge we regularly face. i<br />
<strong>December</strong> <strong>2022</strong> | 37
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: SHOWCASE<br />
Expensive jewellery continues to<br />
sell as customers chase quality<br />
Showcase <strong>Jeweller</strong>s Te Awamutu<br />
with Kirsty Walker, Owner<br />
Est. 1884 • Years in Trade 18 • Location Te Awamutu, NZ<br />
jewelleryhub.co.nz<br />
What’s the most significant challenge<br />
your business in <strong>2022</strong>?<br />
Have you made any changes now that<br />
lockdowns are behind us?<br />
Have you noticed any major change to<br />
consumer behaviour in the past 5 years?<br />
Probably staffing. We’ve been short staffed<br />
since January – a full time and casual<br />
staff member. We advertised in our local<br />
paper, social media, in-store and via seek<br />
continuously during the year.<br />
We’ve been lucky that we’ve had a<br />
supportive team and have been able to<br />
cope during periods of low staffing due to<br />
planned holidays and illness etc. In general<br />
applicants were straight out of school, very<br />
little qualifications, no idea how to write<br />
a CV or how to interview and really, they<br />
just wanted a job, but didn’t show any real<br />
enthusiasm.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
Within the jewellery industry I feel we’ve been<br />
quite sheltered from COVID issues, we’re not<br />
having the stock issues that other industries<br />
are having issues with especially large items<br />
that have to be sea freighted into the country.<br />
Our main challenges are finding<br />
replacement staff. We’ve required a full<br />
timer and a casual for nearly 12 months<br />
and have only just recently filled those<br />
positions. Most applicants had no idea<br />
how to put a CV together and/or had poor<br />
employment history.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
No, but we’ve been lucky to have a good<br />
team that have worked extra hard to keep<br />
us going, our long term part-timers have<br />
worked a lot of extra hours and Kirsty has<br />
filled in gaps where necessary too.<br />
We’re looking forward to the two new people<br />
joining our team!<br />
For most of the year it feels like we’ve just<br />
been in a holding pattern. Our advertising<br />
has gone ahead as normal, but we didn’t<br />
hold any store events until recently, as until<br />
mid-September we were required to wear<br />
masks when in the store with customers.<br />
I still occasionally catch myself checking<br />
for my mask before heading out to the shop<br />
floor. Interestingly sales have increased<br />
over the previous year, so it does make you<br />
wonder if events are necessary. I suspect it’s<br />
part of the COVID phenomenon. We had our<br />
first event this year in late September – a<br />
‘girls’ night in’ online event and the following<br />
day, ‘girls day out’ event. It was very<br />
successful, but we didn’t achieve the usual<br />
attending numbers.<br />
Can you comment on online sales?<br />
Online sales are steadily increasing.<br />
We were lucky to gain government<br />
funding during the 2020 lockdown for<br />
online marketing training, google, social<br />
media advertising etc. We’ve continued<br />
working with the training team and have<br />
seen a marked improvement in sales.<br />
Currently we’re changing the back end<br />
of our website to Shopify and are looking<br />
forward to the opportunities this will bring<br />
to our marketing.<br />
Have you noticed any new trends in<br />
consumer product preference?<br />
Definitely a move to higher end product, gold<br />
bracelets and chain have made a come back<br />
and customers are more likely to consider<br />
platinum as opposed to white gold for their<br />
wedding rings.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits?<br />
We are seeing more spending on the higher<br />
ticket items – gold, diamonds and so on.<br />
WORDS TO LIVE BY<br />
“Today’s<br />
gonna be<br />
a good day.”<br />
More people are shopping online or<br />
researching and then coming in, looking at<br />
the item and buying it. Or ringing to check<br />
that we have the item before coming in and<br />
buying.<br />
Looking forward to 2023, what trends are<br />
you anticipating in consumer behaviour?<br />
We’ll continue to see a focus on higher<br />
end product enquiries and sales – people<br />
want quality.<br />
Thinking back to say, 2012, what is the<br />
most significant change to the industry?<br />
Back then it was probably Pandora and<br />
other branded product, it was a big part of<br />
our business and although we still stock<br />
Pandora and other brands, we’ve worked<br />
hard to make sure we’re not reliant on<br />
them being in our store. We’ve consistently<br />
focused our marketing towards gold,<br />
diamond and gemstone items and this<br />
shows in our sales.<br />
On a scale of 1 to 10 – how confident are<br />
you in terms of sales and profitability?<br />
Very confident. We’re based in a farming<br />
community and as long as the farmers are<br />
happy, then our business does well. We’ve<br />
been through a recession before.<br />
Do you see jewellery chain stores as<br />
being a larger or lesser threat to your<br />
business over the next five years?<br />
No real change to our position - we’ve never<br />
worried about the chain stores and have<br />
pretty much always done well. We plan and<br />
aim for what we want to achieve. We’re also<br />
manufacturing jewellers, custom makes<br />
and repairs are a big part of our business.<br />
The only issue we have with chain stores is<br />
the quality of jewellery we receive for repair<br />
work, some of it is too light to work with. i<br />
38 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: SHOWCASE<br />
Lab-created diamonds offering<br />
more ‘bang for your buck’<br />
My <strong>Jeweller</strong>y Shop<br />
with Catherine Pevy-Trewartha, Owner<br />
Est. 2010 • Years in Trade 45 • Location Nobby Beach, QLD<br />
myjewelleryshop.com.au<br />
What’s the most significant challenge your<br />
business faced in <strong>2022</strong>?<br />
The most significant challenge was finding<br />
new team members. We advertised on<br />
Seek, social media and shared via industry<br />
channels. We are still looking for more sales<br />
staff to join us.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
We hoped that the delays experienced<br />
during COVID would ease, however they have<br />
continued and in some cases worsened, both<br />
from suppliers and shipping.<br />
This in turn has created longer lead times<br />
for diamond engagement and wedding rings,<br />
custom designs.<br />
The postponements in weddings from 2020-<br />
21 and earlier <strong>2022</strong> has also meant we have<br />
had to hold rings for longer while couples<br />
struggled to set and finance new dates.<br />
Have you made any changes now that<br />
lockdowns are behind us?<br />
We are allowing longer for all work to<br />
be completed, we are taking a greater<br />
percentage of a sale as a deposit in case of<br />
delays to aid cash flow and we are making<br />
sure our fast selling stock is replenished as<br />
soon as it sells.<br />
We work with our team to offer a family<br />
friendly roster while still servicing our clients.<br />
In <strong>December</strong> <strong>2022</strong>, are you paying more or<br />
less tenancy costs (rent/lease, outgoings<br />
etc) than you were in <strong>December</strong> 2019?<br />
We have recently renewed our lease, and<br />
although we have a small increase, we have<br />
long term security and nurtured an excellent<br />
relationship with our landlord.<br />
Has your sales income increased or<br />
decreased in the past five years ago?<br />
Our sales have increased as we moved away<br />
from silver and fashion into a destination<br />
store specialising in diamond engagement<br />
and wedding rings, custom designs, and<br />
repairs.<br />
The layout of our store ensures our clients<br />
have privacy to sit in the design lounge,<br />
they can take their time, and really enjoy<br />
the experience rather than shopping in a<br />
shopping centre store and buying off the<br />
shelf.<br />
The problems of businesses finding<br />
suitable staff have been widely reported in<br />
the media; have you had to change the way<br />
you manage your staff?<br />
I think that finding a good balance of staff of<br />
all ages with various skills, availability and<br />
future goals with the company is crucial to<br />
creating a successful business, and this is<br />
often one of the biggest challenges.<br />
We offer a very relaxed, family-friendly<br />
environment, but we also have very clear<br />
goals and targets, so it is essential that<br />
everyone works as a team to ensure the<br />
business continues to thrive.<br />
Have you noticed any new trends or<br />
changes in consumer product preference?<br />
We have noticed a strong move back<br />
to yellow gold in all jewellery including<br />
engagement and wedding rings. Women<br />
are aspiring to have a larger statement<br />
solitaire diamond engagement ring and we<br />
have also seen a transition from a top halo<br />
surrounding the main stone to a hidden halo<br />
to compliment the solitaire diamond.<br />
Women are now choosing to have two<br />
wedding rings rather than waiting (and<br />
hoping) for their eternity ring.<br />
Men are tending to be open to spending<br />
a little mor on their wedding rings with<br />
18-carat yellow gold seeing a resurgence<br />
and newer metals such as tantalum<br />
rather than titanium a great option as<br />
WORDS TO LIVE BY<br />
“don’t be<br />
afraid to<br />
disrupt. step<br />
up, be brave,<br />
and you will<br />
thrive.”<br />
it can be sized, and platinum 600 for its<br />
strength and affordability.<br />
As one of the first stores to embrace labcreated<br />
diamonds back in 2016, we have<br />
continued to grow our lab-created diamond<br />
business with consumers seeking us out<br />
and specifically asking for a lab-created<br />
diamonds when designing engagement<br />
and wedding rings. Our average size of<br />
lab-created diamond engagement rings<br />
now exceed the traditional 1-carat size with<br />
1.5-3-carats now very normal. Clients often<br />
prefer the idea of a lab-created diamond<br />
over a mined diamond, and they appreciate<br />
that they can have a larger, whiter, brighter<br />
stone for a similar price to that of a mined<br />
diamond.<br />
Fancy shape lab-created diamonds have<br />
also been very popular with oval shaped<br />
engagement rings surpassing round brilliant<br />
cuts, with pear shape and radiant cuts<br />
following closely behind. Marquise shaped<br />
diamonds are also seeing a comeback. As<br />
the prices of lab-created diamonds has<br />
dropped, we have also transitioned away<br />
from cubic zirconia jewellery.<br />
Can you comment on online retailing?<br />
Since 2010, My <strong>Jeweller</strong>y Shop was once of<br />
the first independent stores to sell branded<br />
and fine jewellery online.<br />
The future of online shopping is exciting,<br />
and we look forward to embracing new<br />
technology to ensure customers enjoy our<br />
online experience and also migrate locals<br />
into instore clients having researched My<br />
<strong>Jeweller</strong>y Shop online or on social media.<br />
We are always looking to increase the<br />
percentage of online sales, and as<br />
online shopping is far more trusted and<br />
expected now, customers are more open<br />
to purchasing fine jewellery online with a<br />
higher average value.i<br />
<strong>December</strong> <strong>2022</strong> | 39
WHAT DO JEWELLERS THINK?<br />
BUYING GROUP MEMBER: SHOWCASE<br />
Passion for pink diamonds still<br />
very much on the rise<br />
CW <strong>Jeweller</strong>s<br />
with Cathy Manwaring, Manager<br />
Est. 2001 • Years in Trade 21 • Location Cootamundra, NSW<br />
cwjewellers.com.au<br />
Have you noticed any new trends or<br />
changes in consumer habits over the<br />
past 12 months?<br />
Australian pink diamonds are definitely<br />
a jewellery trend that has some substance.<br />
Up until 2020 we had not had any<br />
customer interest in Australian Argyle<br />
pink diamonds.<br />
We never stocked pinks as our customers<br />
just were not buying them.<br />
In 2020 the Argyle Mine closed forever<br />
and that is when interest started.<br />
People were hearing more about the<br />
closure and what that meant for the<br />
pink diamond supply in Australia.<br />
When 2021 rolled around pink diamonds<br />
really came into there own.<br />
People were housebound, no travelling at<br />
all and they had more time on their hands<br />
to read articles, listen to the radio and<br />
research.<br />
Once John Laws started pushing Argyle<br />
pink diamonds on his radio program<br />
and we invested time into selective<br />
demand social media advertising, our<br />
pink diamond sales took off.<br />
People were coming instore, contacting<br />
us via our social media and ringing the<br />
store to find out more information about<br />
these ‘now rare’ diamonds.<br />
Pink diamonds had customers interested<br />
in jewellery again.<br />
They were asking questions, taking in<br />
information and wanting to come instore<br />
and see these diamonds in real life.<br />
Since they could not travel far from<br />
home in 2021, customers invested this<br />
money into loose pink diamonds and<br />
pink diamond jewellery.<br />
They wanted something special for<br />
themselves, to own a piece of Australian<br />
history, but to also have a sentimental<br />
piece with a back story that they can<br />
pass down through their family.<br />
Are you selling more pearl and pearl<br />
jewellery than you were five years ago?<br />
We have noticed over many years of<br />
selling jewellery that customers either<br />
love pearls or hate pearls, there is no<br />
inbetween.<br />
Over the past few years pearls have<br />
become a staple item in most people’s<br />
jewellery boxes.<br />
They are such a classic item and can be<br />
matched with any outfit for any occassion.<br />
Customers love the natural forms of<br />
pearls and enjoy the fact that they<br />
are not perfect in most cases.<br />
Simple, freshwater pearl stud earrings<br />
would be our best seller, as customers<br />
want to wear their pearls on a daily<br />
basis and not stress about loosing that<br />
expensive pair.<br />
The younger generations are purchasing<br />
the big statement button studs, where<br />
the older generations still enjoy wearing<br />
7-8mm simple, round pearl stud.<br />
We have sold quite a few pairs in the<br />
lead up to Christmas, with our youngest<br />
customer being only three years old.<br />
Her grandmother wanted to start her<br />
pearl collection early, so decided on<br />
pearl earirngs as a gift.<br />
We believe the increase in pearl sales<br />
is due to the fact people going back to<br />
simple and classic jewellery compared<br />
to big and blingy of a few years ago.<br />
There also seems to be a lean towards<br />
pearls for bridal accessories.<br />
WORDS TO LIVE BY<br />
“Don’t just<br />
work hard,<br />
also work<br />
happily.”<br />
We have noticed more brides<br />
accessorising with pearl jewellery<br />
than they were five years ago.<br />
With lace being quite popular in wedding<br />
dresses at the moment, I think pearls<br />
blend better with this look over the more<br />
blingy jewellery of years gone by.<br />
Over the past few years pearl sales<br />
have definitely increased, especially<br />
around Christmas. They make a<br />
beautiful gift for any age group.<br />
What do you think might be the most<br />
significant challenge your business will<br />
face in 2023?<br />
The biggest challenge that I believe retail<br />
in general will face in 2023 is a reduction<br />
customer spending.<br />
There will be little to no surplus in<br />
people’s budgets for impulse shopping.<br />
As a consequence of interest rate hikes,<br />
food price increases and the doubling of<br />
gas and electricity bills, people simply<br />
do not have extra money to spend on<br />
luxuries.<br />
Customers will still need to purchase<br />
gifts and occasionally spoil themselves,<br />
but we believe the amount per sale will<br />
drop on average by half. This cannot be<br />
helped, people have to do what is right<br />
for them. We as retailers need to be<br />
understanding of this - it’s an important<br />
part of the relationship between a<br />
business and its customers.<br />
It’s important to make sure we<br />
accommodate our style of customers<br />
and make sure we can help them as<br />
well as we can with the budget that they<br />
can afford.<br />
If we look after them now, our hope is<br />
that they return and shop with us when<br />
their budget increases. i<br />
40 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
INDEPENDENT JEWELLER<br />
Honesty – the key to building<br />
long-term relationships<br />
Stones Diamond Ring Specialists<br />
with William Stone, Assistant Manager<br />
Est. 1970 • Years in Trade 3 • Location Brisbane, QLD<br />
stonesdiamonds.com<br />
What’s the most significant challenge<br />
your business faced in <strong>2022</strong>?<br />
knowledge needs to be combined with<br />
energetic and friendly customer service.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits?<br />
Throughout <strong>2022</strong>, our most significant<br />
challenge has been meeting our<br />
increasing demand for custom made<br />
jewellery.<br />
We have seen an increased uptake in<br />
those requesting custom made jewellery,<br />
especially diamond engagement rings.<br />
Dad (Paul Stone) has always focused on<br />
ensuring our windows stay full of beautiful<br />
stock, particularly diamond engagement<br />
rings that meet all budgets and style<br />
preferences.<br />
Additionally, a large portion of custom<br />
made rings have also featured Australian<br />
Inverell Sapphire and other coloured<br />
gemstones.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
It was a great period of trade of us during<br />
COVID.<br />
As fewer people were travelling they spent<br />
their hard earned money in Australia, and<br />
it seems they wanted luxury goods such as<br />
jewellery.<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
We are incredibly lucky to have highly<br />
experienced and long-term serving staff<br />
members within our business, with me<br />
being the youngest at 20.<br />
We are always looking for potential new<br />
team members. One future problem<br />
we will have to face will be hiring new<br />
members of the team.<br />
There are a lot of qualities that make a<br />
great retail jewellery assistant. Product<br />
Finding staff within the jewellery industry<br />
isn’t easy.<br />
As staff need to be trustworthy with<br />
valuable stock and capable of learning<br />
new things, such a jewellery design and<br />
gemstone knowledge.<br />
Have you made any changes now that<br />
lockdowns are behind us?<br />
We have focused on having some of<br />
Brisbane’s largest variety of stock in<br />
the shop windows, especially for the<br />
upcoming <strong>December</strong> (Christmas)<br />
trading period.<br />
Stock is critical to successful postlockdown<br />
trade.<br />
Can you comment on online retailing?<br />
I have recently set up an online shop on<br />
our website - stonesdiamonds.com - and<br />
so far it’s been so far successful.<br />
So I’m excited to see how it continues to<br />
develop and grows into the future.<br />
Have you noticed any major change to<br />
consumer behaviour in the past 5 years?<br />
More and more consumers tend to want<br />
education on what they are purchasing.<br />
Especially when it comes to larger<br />
purchases such as engagement rings.<br />
Looking forward to 2023, what trends are<br />
you anticipating in consumer behaviour?<br />
I think as economic times get tougher we<br />
will see increased consumer uncertainty<br />
with spending money on luxury items such<br />
as jewellery.<br />
But in saying that we know people will<br />
continue to continue to get married, have<br />
anniversaries and celebrate important<br />
occasions with beautiful jewellery.<br />
WORDS TO LIVE BY<br />
“Remain open,<br />
honest, and<br />
upfront.”<br />
Customers have been a mixture of both<br />
those who want an in-depth education on<br />
what it is they are buying.<br />
Then there are those customers who just<br />
want to see their loved ones happy with<br />
some new beautiful jewellery. Quality<br />
made and Australian made goods always<br />
appeal to local consumers.<br />
Are you selling more 18-carat gold<br />
jewellery than you were five years ago?<br />
Yes, we sell predominately stock and<br />
make jewellery in 18-carat gold. We have<br />
however noticed a large demand for ninecarat<br />
gold too.<br />
Are you selling more colour gemstone<br />
jewellery than you were five years ago?<br />
We sell a constant percentage of coloured<br />
gemstones - more have been sold as<br />
engagement rings in recent times.<br />
Are you selling more pearls and pearl<br />
jewellery than you were five years ago?<br />
We have seen increased demand for our<br />
pearl jewellery, especially in South Sea<br />
pearl strands, bracelets and earrings.<br />
What will be the most significant<br />
challenge your business faces in 2023?<br />
To continue to evolve and follow market<br />
trends within the jewellery industry.<br />
Do you see jewellery chain stores as<br />
being a larger or lesser threat to your<br />
business over the next five years?<br />
Lesser threat. Australian customers<br />
rather pay for quality, giving businesses<br />
like ours an advantage.<br />
Additionally, customers love to experience<br />
a personal customer service experience,<br />
something larger chains can’t offer.i<br />
<strong>December</strong> <strong>2022</strong> | 41
WHAT DO JEWELLERS THINK?<br />
INDEPENDENT JEWELLER<br />
Customers increasingly desire<br />
a piece to cherish forever<br />
Seb Brown <strong>Jeweller</strong>y<br />
with Seb Brown, Owner<br />
Est. 2009 • Years in Trade 13 • Location Melbourne, VIC<br />
seb-brown.com<br />
The problems of businesses finding<br />
suitable staff have been widely reported<br />
in the media; have you had to change the<br />
way you manage your staff?<br />
I maintained consistent work hours, put<br />
all staff on contracts which offer sick leave,<br />
paid holidays and I pay above the award<br />
wage. This has led to staff loyalty and overall<br />
happiness in the studio. Staff are also able<br />
to upskill within their interest area and<br />
constantly learn new skills and knowledge;<br />
so there is progression.<br />
Have you made any changes now that<br />
lockdowns are behind us?<br />
I enlisted architect Sean Godsell to design<br />
my new store and workshop. Our store is<br />
now open 9-5 Monday to Friday, we offer a<br />
range of stock for purchase, but the main<br />
impetus is to attract clients to our bespoke<br />
service. We have continued to sell online<br />
alongside bricks and mortar. I have also<br />
resumed showing at international markets,<br />
namely Paris fashion week and undertaking<br />
trunk shows interstate.<br />
Has your sales income increased or<br />
decreased in the past five years ago?<br />
Sales have increased significantly. My<br />
presence in the international market has<br />
increased, as has our client base here in<br />
Melbourne.<br />
I have aligned with retailers and brands<br />
overseas to raise my profile and explore<br />
new markets. My brand is relatively new<br />
so our growth has been steep, as has the<br />
learning curve.<br />
Can you comment on online retailing?<br />
Any jeweller without an online store needs<br />
to get one ASAP. It will definitely increase<br />
as customers become more and more<br />
comfortable with shopping online, young<br />
people have no qualms about spending<br />
significant amounts of money online.<br />
Are you selling more 18-carat gold<br />
jewellery than you were five years ago?<br />
Yes. Significantly more; it is my material<br />
of choice. My clients love the warmth of<br />
18-carat yellow gold and the patina which<br />
builds up over time. I also prefer working<br />
with it, and don’t leave the house without<br />
an 18-carat gold ring.<br />
Are you selling more colour gemstone<br />
jewellery than you were five years ago?<br />
Yes. I utilise a lot of pink sapphires, spinels<br />
and an array of multi-coloured stones. Our<br />
clients are quite adventurous and appreciate<br />
my use of (sometimes discordant) colour<br />
combinations. I have also noticed an<br />
increase in desire for large boldly coloured<br />
stones (not going to give away which type)<br />
set simply into gold.<br />
Do you think your store will increase its<br />
bespoke jewellery category ?<br />
Most definitely. My clients love the bespoke<br />
hand made process, they can meet one<br />
of my team in the studio, choose all the<br />
elements of their pieces and walk away with<br />
something truly unique.<br />
My pieces take time to make and nine times<br />
out of ten our clients are more than happy<br />
to wait. I also get a lot out of the bespoke<br />
process, as I can spend time sourcing<br />
interesting stones and expanding my<br />
repertoire of shapes.<br />
Looking forward to 2023, what trends are<br />
you anticipating in consumer behaviour?<br />
I have noticed an uptick in remodeling<br />
requests; people are looking to refresh<br />
old pieces and have sustainability and<br />
cost in mind.<br />
More exploration into Australian gemstones;<br />
parti-sapphires, zircons, diamonds and<br />
so on. Heavy interest in sustainability<br />
particularly to do with provenance of<br />
WORDS TO LIVE BY<br />
“question<br />
the notions<br />
of beauty,<br />
preciousness<br />
and<br />
ownership”<br />
diamonds, mining techniques and ethical<br />
making.<br />
Online sales continue to be strong and<br />
customers are happy to organise a piece<br />
via Zoom/email/phone. Unsure if sales will<br />
increase as interest rates rise, cost of living<br />
increases, fuel prices etc, but this remains<br />
to be seen.<br />
Recycled gold is a hit. I’m thankfully seeing<br />
a ‘buy less choose well’ mentality remain,<br />
clients will save up money for a thoughtfully<br />
made piece they will cherish forever.<br />
What is the most significant change to<br />
the industry in recent years?<br />
I was predominantly selling chunky silver<br />
pieces via a small network of boutique<br />
retailers and galleries. A lot of these shops<br />
have closed, and the market has shifted to<br />
insatiable demand for gold rings. This is due<br />
to pressures of online retailing, high rents<br />
and the changing nature of fashion.<br />
Online sales are a large and growing<br />
proportion of sales, this barely existed in the<br />
jewellery trade 10 years ago. Large online<br />
stores have gained trust, can offer a wide<br />
selection of brands/pieces and free returns.<br />
Lastly people are far more adventurous<br />
and are willing to invest in everything from<br />
‘push presents’ to divorce rings! Obviously<br />
online promotion and digital marketing has<br />
increased. The gallery model for presenting<br />
jewellery has remained, but as customers<br />
are more likely to connect with the jeweller<br />
directly this may be on the wane.<br />
What is one change you’d like to see<br />
within the jewellery industry?<br />
More investment and time focused on<br />
innovation in design and curation. The<br />
ability to access provenance information<br />
for diamonds. Also – Pinterest being<br />
permanently deleted! i<br />
42 | <strong>December</strong> <strong>2022</strong>
WHAT DO JEWELLERS THINK?<br />
INDEPENDENT JEWELLER<br />
Making the most of Australia’s<br />
beautiful gemstones<br />
Utopian Creations<br />
with Ben Manning, Director<br />
Est. 2005 • Years in Trade 24 • Location Adelaide, SA<br />
utopiancreations.com.au<br />
What’s the most significant challenge your<br />
business faced in <strong>2022</strong>?<br />
Competition online has been the biggest<br />
challenge to our business in <strong>2022</strong>,<br />
especially in the field of Australian sapphire<br />
engagement rings which have been a focus<br />
of our business for the past 10 years.<br />
COVID lockdowns forced established<br />
businesses to increase their online presence<br />
and it gave a lot of people time at home to<br />
start new small businesses. It’s the best type<br />
of challenge to have though, pushing us and<br />
the whole industry to innovate and provide<br />
customers with the best products available.<br />
Can you comment on online retailing?<br />
We created the first retail website for our<br />
business back in 2005 and while the world<br />
of online retailing has changed massively<br />
over the past 17 years while customers<br />
purchasing patterns haven’t.<br />
Our website serves as an excellent home<br />
base for customers to gather information,<br />
but at the end of the day, most sales are still<br />
conducted after numerous contacts with a<br />
sales member either in-store or via phone/<br />
email. Our website is worth every cent and<br />
every bit of time we put into it however, it<br />
rarely makes sales by itself. This proves<br />
the importance of a physical store and a<br />
knowledgeable sales team.<br />
Are you selling more colour gemstone<br />
jewellery than you were five years ago?<br />
Coloured gemstone jewellery continues to be<br />
our focus, predominantly Australian sapphire<br />
engagement rings. We’ve seen a slow and<br />
steady rise in people searching for Australian<br />
sapphires over the last 10 years with a more<br />
pronounced rise over the last 5 years.<br />
It’s not an easy space to work in due to the<br />
difficulty sourcing light and bright colours,<br />
and issues with photography, especially<br />
when dealing with interstate or international<br />
customers, but the outcomes are often<br />
more memorable than white diamonds<br />
due to the individual personalities of each<br />
sapphire.<br />
It’s a lovely supply chain to be involved with<br />
and building long-term relationships with<br />
miners and cutters in Australia is very<br />
rewarding. Traveling to the mining areas,<br />
seeing the miners in action, and noting the<br />
care that’s taken for the local environment is<br />
really important, helping us to build a story<br />
around our products, and connecting the<br />
consumer with the materials’ origins.<br />
In a world where customers expect better<br />
financial, health and safety outcomes for<br />
supply chains and care for the environment,<br />
local gemstones can be a real asset.<br />
Are there any products that have surprised<br />
you in sales performance?<br />
The rise of Australian sapphires as<br />
engagement ring stones has surprised us<br />
and I’m sure the rest of the industry, both in<br />
Australia and overseas.<br />
10 years ago we still had contacts, mainly<br />
ex-miners with extensive sapphire<br />
collections that contained incredible<br />
sapphires. Most of these collections have<br />
now been used and like others, we rely on<br />
newly mined sapphires. Thankfully we have<br />
20 years of experience and can provide our<br />
customers with most of their needs.<br />
Another product that has taken off over the<br />
past 10 years is lab-created diamonds. We<br />
imported our first about 10 years ago from a<br />
European company. This was very early for<br />
lab-created diamonds in Australia and even<br />
though we advertised lab-created diamonds<br />
on our website and in-store we didnt have a<br />
lot of interest for the first five years, making<br />
a few bespoke pieces per year.<br />
The last five years have seen steady growth<br />
though and I don’t see any reason for it<br />
WORDS TO LIVE BY<br />
“keep an open<br />
mind and be<br />
kind.”<br />
to change. There is a lot of conflicting<br />
information online that scares some<br />
customers off, I’m sure some coming from<br />
the mined diamond industry, but price and<br />
a perceived environmental benefit are such<br />
strong factors for some customers that lab<br />
will continue to be the choice for many.<br />
We continue to sell both mined and labcreated<br />
diamonds, providing customers<br />
with accurate information and we see<br />
a 60-40 split in favor of lab-created<br />
diamonds, but keep in mind all our mined<br />
diamonds are from traceable sources and<br />
are therefore generally more expensive<br />
than open market mined diamonds so the<br />
price difference for our customers may be<br />
even greater than normal.<br />
What will be the most significant challenge<br />
your business will face in 2023?<br />
The next 12 months could bring significant<br />
challenges not only to our business but the<br />
wider economy. The global economy is close<br />
to, if not already in a recession and at this<br />
point it’s not well understood how deep it<br />
will go. We are a small business with under<br />
10 employees which can bring benefits<br />
during widespread downturns as its easier<br />
to pivot away from marginal income streams<br />
and focus on what’s really important.<br />
The full impact of this slower economy<br />
might not be felt for two or even three<br />
years but it’s the work put in over the next<br />
12 months that will be important. For our<br />
business, it’s going to mean expanding<br />
our offerings to customers in-store and<br />
online while continuing to attract more<br />
local customers into our physical store and<br />
perfect our interstate and overseas sales.<br />
Coloured gemstones and lab-created<br />
diamonds provide customers with a lower<br />
price point for engagement rings so we<br />
expect a busy few years even if the global<br />
economy loses momentum. i<br />
<strong>December</strong> <strong>2022</strong> | 43
WHAT DO JEWELLERS THINK?<br />
INDEPENDENT JEWELLER<br />
Aiming for continued growth<br />
despite a cloudy economy<br />
Cleopatra’s Bling <strong>Jeweller</strong>y<br />
with Olivia Cummings, Director and founder<br />
Est. 2011 • Years in Trade 11 • Location Melbourne, Victoria<br />
cleopatrasbling.com.au<br />
What’s the most significant challenge your<br />
business faced in <strong>2022</strong>?<br />
It’s been challenging deciding where to put<br />
cashflow and investment while the world<br />
struggles with crisis after crisis.<br />
It’s a matter of following your gut because<br />
you know your business, while making clever<br />
financial decisions.<br />
As <strong>2022</strong> ends, was there anything that<br />
caught you by surprise during the year?<br />
I was expecting sales to drop more than<br />
they did, and for people to be more thrifty.<br />
Our sales were still strong.<br />
The problems of businesses finding staff<br />
have been widely reported in the media;<br />
have you had to change the way you<br />
manage your staff?<br />
We haven’t had any staffing issues, in fact,<br />
we needed to hire and found really incredible<br />
people.<br />
Have you noticed any new trends or<br />
changes in consumer product preference?<br />
Gold continues to grow for us, over sterling<br />
silver. We have noticed a big spike in clients<br />
wanting bespoke jewellery.<br />
Have you made any changes to your<br />
business strategies now that lockdowns are<br />
behind us?<br />
Our business model didn’t really change,<br />
however that is also the beauty of<br />
e-commerce.<br />
We did however open a store during COVID<br />
which in retrospect was a bold move.<br />
It’s done well and since we moved into a<br />
bigger store with offices and dispatch.<br />
Can you comment on online retailing?<br />
We are happy with our online sales, and we<br />
ship internationally which is also helpful<br />
when reaching a global market.<br />
That said, we always aspire to more and<br />
we are implementing growth strategies<br />
for online growth.<br />
Have you noticed any major change to<br />
consumer behaviour in the past 5 years,<br />
particularly due to COVID?<br />
We found people were treating themselves<br />
more and jewellery has become more<br />
“everyday” than it was.<br />
In <strong>December</strong> <strong>2022</strong>, are you paying more or<br />
less tenancy costs (rent/lease, outgoings<br />
etc) than you were in <strong>December</strong> 2019?<br />
Yes, we’re paying more but purely because<br />
we moved into an entire building.<br />
Before we were only paying for dispatch<br />
rent, whereas now we have an entire<br />
building to pay for.<br />
Has your sales income increased or<br />
decreased in the past five years ago?<br />
It’s increased, I think partly also due to our<br />
bespoke (solid gold) range.<br />
We are working hard to grow our bespoke<br />
range and it grew since COVID.<br />
Have you noticed any new trends or<br />
changes in consumer shopping habits?<br />
Post COVID we noticed a lot of clients<br />
wanting to purchase in store when they<br />
have the option.<br />
I imagine it’s because of how tired of online<br />
shopping people became.<br />
Are there any products you’re selling more<br />
or less of today that surprises you?<br />
10 years ago I made beads and relic pieces.<br />
I am always surprised that we are still<br />
selling as many of them today as we are.<br />
Are you selling more 18-carat gold<br />
jewellery than you were five years ago?<br />
Yes, in both our demi fine and solid gold.<br />
WORDS TO LIVE BY<br />
“There’s<br />
always<br />
something<br />
else waiting<br />
to be<br />
discovered.”<br />
Are you selling more colour gemstone<br />
jewellery than you were five years ago?<br />
Yes, and beaded products too. We are also<br />
selling more pearls and pearl jewellery.<br />
Is your store selling more or less bespoke<br />
or handmade jewellery, compared to five<br />
years ago?<br />
Yes, our bespoke range has grown. We want<br />
to increase this because it’s a great form<br />
of creative expression for us but also great<br />
profit.<br />
We’ve also observed a decline in jewellery<br />
repairs work, which we attribute to an<br />
increase in the quality of our jewellery.<br />
Looking forward to 2023, what trends are<br />
you anticipating in consumer behaviour?<br />
We hope to keep growing our bespoke<br />
solid gold range and offer a very bespoke<br />
customer experience.<br />
We don’t really follow trends with other<br />
jewellery brands as such, we like to carve<br />
out our own path through storytelling.<br />
What’s one thing hope for or one change<br />
you’d like to see within the industry?<br />
More people investing in solid gold because<br />
they see the value in gold, as opposed to<br />
custom jewellery.<br />
It’s better for the environment but also<br />
it supports the ancient craft of jewellery<br />
making and the artisans that we work with,<br />
and in turn our business.<br />
On a scale of 1 to 10 – how confident are<br />
you for the next 12 months in terms of<br />
sales and profitability?<br />
10 - although we are anticipating a<br />
significant challenge with the incoming<br />
global recession and people potentially<br />
spending less. i<br />
44 | <strong>December</strong> <strong>2022</strong>
18ct Diamond & Precious Coloured Gemstone <strong>Jeweller</strong>y Collection<br />
DJDIAMONDDESIGNS.COM.AU<br />
Daniel Jacuk | 0412 071 103 | sales@djdiamonddesigns.com.au<br />
METALS<br />
CASTING<br />
CAD/CAM<br />
REFINING<br />
FINDINGS<br />
Count on Chemgold<br />
Experience unmatched service & reliability<br />
1300 984 751<br />
sales@chemgold.com | www.chemgold.com<br />
Follow us<br />
Servicing Australia & New Zealand<br />
Sydney: Unit 37, 34-36 Ralph St, Alexandria 2015<br />
Melbourne: 1406/227 Collins St, Melbourne 3000
2012 – DECEMBER<br />
Tackling the tricky customer<br />
MARGARET FAY, FAY’S JEWELLERS<br />
What<br />
did<br />
jewellers<br />
After a lifetime in jewellery retail, Margaret Fay of Fay’s <strong>Jeweller</strong>s in<br />
Davenport shares some industry knowledge about the little things that<br />
make a retailer’s day run smoothly.<br />
“We have all had customers who have “checked it out on the internet” and<br />
who “know all about diamonds”. It can be a challenge, but always smile, be<br />
polite and congratulate them on their good taste.<br />
What about the dual lay-by conundrum? – he has a lay-by of which she is<br />
unaware; she also has a lay-by that he doesn’t know about. Ideally, the gifts<br />
are for each other, though one can never be sure. In the meantime, we<br />
mustn’t get them mixed up and can only pray they don’t bump into one<br />
another when coming into the shop.<br />
On those difficult days, I like to remember why I chose retail – the whirr of<br />
EFTPOS, the clink of the till, the unpredictability of customers, the challenge<br />
of the sale. It’s the ultimate gamble; it’s what we love.”<br />
think?<br />
2012 – APRIL<br />
Talk security, fight crime<br />
TONY BENSIMON, SHIELS<br />
<strong>Jeweller</strong> winds back the clock and reflects on<br />
what jewellers, retailers, and other members of<br />
the industry had to say more than one decade ago.<br />
2012 – FEBRUARY<br />
How much are you worth?<br />
DEAN HARRISON, ALCHEMY INFUSIONS DESIGNS<br />
I have once again found myself back ‘on the bench’, and immediately I find<br />
myself questioning the norms of the industry. What is a fair salary after all,<br />
asks Dean Harrison, owner of Alchemy Infusion Designs.<br />
“It’s a vicious circle – bench jewellers do not charge their time properly, then<br />
complain about a lack of income that stops them from training new jewellers,<br />
resulting in under-qualified jewellers, which affects the quality and standard<br />
in the industry. This leads to retailers complaining about the lack of competent<br />
jewellers and not wanting to pay fair and reasonable rates.<br />
Retailers need to ask themselves; are they prepared to invest money in quality<br />
bench jewellers by adding smaller margins to the customer, thereby allowing<br />
bench jewellers to chare reasonable rates for the skills and expertise which, in<br />
turn, will help the jewellery trade to grow?<br />
Being a jeweller is not simply about discount ring sizing; it’s about craftsmanship<br />
and quality. As manufacturing jewellers, we are blessed with the skills to create<br />
perfect little works of art made from precious metals, and that should always be<br />
respected and not forgotten.”<br />
Possibly the least favourite aspect of the jewellery trade is the<br />
issue of security. Toby Bensimon director of Shiels believes better<br />
communication between jewellers could help fight crime.<br />
“Although robberies are relatively rare, they are unforgettably traumatic<br />
to anyone who has had the misfortune of experiencing one.<br />
Our 40-plus stores are robbed regularly in the form of snatch and<br />
grab style robberies – once per fortnight on average. We are robbed<br />
after-hours once per year, which involves thieves smashing the front<br />
glass and making off with a few hundred dollars worth of jewellery but<br />
leaving a $3000 glass bill, and around every two to three years, we have<br />
a robbery where burglars gain access to the store and steal anything we<br />
do not secure in our safe.<br />
Recently, however, we were robbed by a crew of thieves who used a<br />
crude yet effective method to bypass our alarm system and gain entry to<br />
our safe. This was the first time in over 40 years that our safe had been<br />
accessed and they stole only the high-priced items.”<br />
2009 – JUNE<br />
Forward without fear<br />
RENEE BLACKWELL, RENEE BLACKWELL DESIGN<br />
In times of looming recession, the businesses that succeed are the ones<br />
who change their strategies accordingly. Renee Blackwell discusses<br />
some ways to keep the fires burning.<br />
As we progress into the global financial crisis, we are bombarded daily with<br />
fear-based, profit-oriented hype from all major media. Many jewellers and<br />
customers have become concerned, not knowing how to proceed or how to<br />
cope, but while financial doom and gloom is all over the media, we’ve really<br />
got to stop and think about how it’s actually affecting us right now.<br />
My business is actually doing well, as are many businesses like mine,<br />
because there are plenty of retailers still doing well, too. Retailers continue<br />
to spend money, but they are looking for something exciting and fresh -<br />
something that’s going to set them apart. This is the right attitude to have.<br />
46 | <strong>December</strong> <strong>2022</strong>
2012 –JULY<br />
Time is running out, so ‘Save the Time’<br />
NICHOLAS HACKO, NICHOLAS HACKO FINE WATCHES<br />
The Tasmanian Tiger is one of the most fabled animals in the world, and<br />
yet it remains one of the least understood, explains Nicholas Hacko.<br />
The Tasmanian Tiger may be ‘recreated’ from a remnant of DNA in the near<br />
future. Unfortunately, recreating a master watchmaker from DNA would be<br />
impossible!<br />
“Watchmaking is not a dying industry, merely one that is dying in this<br />
country as talent is forced overseas.<br />
Independent watchmakers are a true asset to any society. They possess skills<br />
acquired over many decades of complex restorations and repairs. They work on<br />
high-grade watches, both new (providing they can get spare parts!) and vintage<br />
and restore and repair fine and unusual timepieces, like vintage pocket watches,<br />
music boxes, clock mechanisms and barometers.”<br />
2007 – JULY<br />
The silver lining<br />
NIC CERRONE, CERRONE JEWELLERS<br />
The Australian jewellery industry has a great deal to boast about,<br />
according to Nic Cerrone of Cerrone <strong>Jeweller</strong>s. So why the long faces?<br />
Comprising a bevy of wonderful jewellers, the Australian jewellery<br />
trade operates in conjunction with a strong economy where people<br />
live privileged lifestyles.<br />
Despite this, I constantly hear negativity from members of the trade:<br />
complaints that the economy is bad; that there is a lack of customers;<br />
and that competition from imports is stiff, as is the general<br />
competitiveness of the business.<br />
But if you really love what you do, you will find a way to reach your<br />
goals. Isn’t it more rewarding when something is difficult to achieve<br />
- and you finally do achieve it?<br />
Overall there is enough business for everybody - business for cheaper<br />
jewellery, business for high-end, importing and exporting. The consumer is<br />
more aware of jewellery now than ever and there are many more buyers.<br />
2007 – JUNE<br />
Keep the lights on<br />
JAGO GAVIN, TAMANIE JEWELLERS<br />
Product disclosure and customer education should not come at the expense<br />
of making a quick sale, argues Jago Gavin from Tamanie <strong>Jeweller</strong>s.<br />
Our industry is getting hurt because we’re trying to make the quick sale and we’re<br />
not giving the customer the correct information.<br />
Sure, the dearer piece may not be the most viable option for your customer, but at<br />
least ensure they are fully informed about differences in quality before they decide<br />
on a cheaper alternative. Ensure you’re giving a full disclosure of the product. That<br />
way, the customer can walk out fully aware of what they’ve bought.<br />
Consumer awareness of jewellery products is increasing, but it’s the responsibility<br />
of the retailer to educate staff and, in-turn, educate customers about the quality of<br />
the product on sale.<br />
At the moment, the industry has lost some of its consumers’ trust because<br />
members have not been completely open with their customers. I recommend<br />
that we all try to be as transparent as possible in order to regain this trust.<br />
Once we do this, customers will start to believe in jewellery as a viable gift.
2014 – AUGUST<br />
Outsmarting the smartphone<br />
MICHAEL GRIMALDI, MICHAEL’S SHOWCASE<br />
I have been in this industry for 30 years, says Michael Gimaldi of Michael’s<br />
Showcase <strong>Jeweller</strong>s. My father was in the industry for 60 years and his father<br />
was in it before him. Times change and so too do shopping habits.<br />
These days we have a new breed of customer and a new shopping modus<br />
operandi that is becoming harder to compete with: the mobile phone, internet<br />
shopping and branding galore.<br />
Let me paint a picture, one with which I’m sure you’re all familiar. The customers<br />
come into the store, try stuff on, wear the pieces and ask you all about them.<br />
Not long after, you’re in your local coffee shop and here they are again, using<br />
their smartphone to view online all the gear they just played “Twenty questions”<br />
about with you. But wait, there’s more! One week later they have the cheek to<br />
come in and want that piece, the one they bought online, fitted or adjusted.<br />
So what are you going to do? I charge 15 bucks for a watchband resize.<br />
Hey, I’ve got people I need to pay. They seem to be OK with it now but one year<br />
ago when I started charging, boy did I get some shocked faces.<br />
2012 – MARCH<br />
Family jewellers: making them work<br />
TONI DESBROW, BILOELA SHOWCASE JEWELLERS<br />
As far as succession planning goes, it is the ultimate question says<br />
Toni Desbrow, co-propietor of Biloela Showcase <strong>Jeweller</strong>s. If a<br />
jewellery business can stay in a family for 100 years, I suppose it<br />
is a good thing, because it shows the strength within that unity.<br />
Husbands and wives working together? That’s another story. It is not always<br />
healthy for the family environment.<br />
Sometimes spending 24 hours a day together can be very unhealthy as it is<br />
hard to create any separation between home life and office life – everything<br />
travels with you, from work to home and vice versa.<br />
Sometimes it is nice to be able to leave the stresses of the working week<br />
behind you at the end of the day and that can be harder to do when your<br />
work, including your partner, goes home with you.<br />
When you are employed by someone, you finish your day and go home and<br />
leave work behind you. Maybe that is the advice we need to take:; work is<br />
work and home is home, and we should all do your best to keep it that way<br />
as much as we can.<br />
Working with a spouse is a touchy subject, particularly if one of you has not<br />
come from that industry. Generally, it should be the person with the industry<br />
experience who should run the business.<br />
Knowledge of the industry is everything and you shouldn’t be pulled back on<br />
growing a successful business.”<br />
2007 – AUGUST<br />
A change in attitude<br />
NIKHIL JOGIA, JOGIA DIAMONDS<br />
Despite the growing power of internet retailing for all sectors, too many<br />
jewellers are still resisting it. Nikhil Jogia of Jogia Diamonds calls for a<br />
new approach toward this dominant medium.<br />
The Australian jewellery industry still doesn’t fully understand the internet.<br />
Unlike traditional media, the internet has very few barriers to entry. Website<br />
templates can be downloaded and installed within minutes. Domain names
WHAT DID JEWELLERS THINK?<br />
2008 – APRIL<br />
Combating the invasion<br />
DEAN WALKER, DEAN WALKER DESIGNS<br />
Dean Walker of Dean Walker Designs argues jewellers should<br />
focus on manufacturing their own designs, instead of spending too much<br />
time repairing imported jewellery, to protect Australia’s design identity.<br />
I think most would agree that Australian manufactured jewellery is generally<br />
superior to imported jewellery, especially when it is handmade.<br />
Given imported jewellery transactions greatly outnumber sales of local<br />
jewellery in our market, there must be reasons, apart from quality - the<br />
two that come to mind are price and product knowledge (or lack of).<br />
I have often told customers that I am reluctant to resize rings due to a<br />
lack of sturdiness, pointing this out without the use of weasel words.<br />
An example would be: “This ring has been excessively hollowed, and any<br />
forces applied to it will concentrate around the settings”. Such advice serves<br />
two purposes: it gives the customer wisdom to use for future purchases,<br />
and educates the consumer that jewellery shopping is not only a question<br />
of price.<br />
People appreciate knowing and sometimes come back to buy better quality<br />
items than they would have bought before.<br />
2007 –MARCH<br />
The real robbery begins now<br />
ROBERT HAIN, DARJE JEWELLERY<br />
After a robbery in his store, the last thing Robert Hain, director, Darjé<br />
<strong>Jeweller</strong>y expected was poor treatment from his insurer. He argues it’s time<br />
insurance companies better supported the victims.<br />
In a laughable final slap in the face, our assessor then informed me that our<br />
premium would now rise to double what we had paid previously. I didn’t even<br />
complete the form when it arrived because there was simply no way I could<br />
afford it - it would have taken most of my profit, especially when I was only<br />
supposed to be making $25 an hour! Thus, I was left uninsured.<br />
The entire ordeal left me very angry and very hurt. In the jewellery trade, you<br />
must be honest. I have always been honest because I’m continually dealing<br />
with customers’ jobs and their trust is paramount to my business. I do the<br />
right thing, and I expect the right thing in return; in this case, I didn’t get it.<br />
If you fall victim to robbery in your store and the insurance assessor gives you<br />
a hard time, don’t tolerate it. The more we stand-up and protest as a united<br />
industry, the less chance this will happen again. Telephone the insurance<br />
company and voice your concerns. Get them to appoint a different assessor to<br />
handle your claim and hopefully they’ll take care of it for you.<br />
My advice is to insurance companies: stop treating the victims like the<br />
criminals or you’ll lose many valuable customers.<br />
... continued<br />
and hosting can be bought for less than a cup of coffee.<br />
Add to this the promise from Google that your ad can be on top of the search<br />
results in minutes (with the right bid), and it is very tempting for jewellers to<br />
start selling online without any professional advice.<br />
A prime example of this is Gemex.com.au, a blog offering “consumer advice”<br />
that has received lots of attention in the past year. The previous management<br />
of Jogia Diamonds paid large sums of money for a small display ad on this site.<br />
As it turns out, the ad brought us between five and fifteen visitors per month.<br />
Because of the low visitor numbers, we cancelled the ad. Still, even more<br />
jewellers advertise without any independent metrics whatsoever.<br />
Our collection of unforgettable jewellery designs are crafted<br />
in premium 18ct gold, centred around unique, one-of-a-kind<br />
Australian Sapphires. The pieces in this range have been<br />
embellished with beautiful White Diamonds, to enhance the<br />
incredible hues of the Australian Sapphire.<br />
SapphireDreams.com.au<br />
Become a stockist today 02 9290 2199
WHAT DID JEWELLERS THINK?<br />
2011 – FEBRUARY<br />
The enemies within<br />
JOHN TEMELLI, TEMELLI JEWELLERY<br />
2010 – JANUARY<br />
Do your homework<br />
MICHAEL SOBBI, LINDA & CO. DESIGNER JEWELLERS<br />
Not everything should be sold for a song, says John Temelli.<br />
Discounting – both on and offline – is ruining consumers’ perception<br />
of value in the Australian jewellery industry.<br />
Where has the prestige or the luxury gone in our industry? I ask, because<br />
I’m not sure I can see it anymore.<br />
The jewellery industry is supposed to be driven by luxury and brand ideals<br />
such as desire, status, new innovation and design. But lately I’ve begun to<br />
think retailers are losing sight of what makes it valuable.<br />
If this carries on, what was once seen by consumers as a status symbol will<br />
quickly lose that status. Brand ideals will falter and desire will falter with it.<br />
There is no doubt many of us are in this industry because we love it – but<br />
there are certainly others who view it as nothing more than a quick buck,<br />
easy money and take advantage of an industry built on trust.<br />
In this respect our biggest enemies are not pressures on the jewellery<br />
industry, but pressures from within it. To me, the biggest evils are internet<br />
diamond ‘wholesalers’ and the practice of discounting. These may seem<br />
different, but essentially they do the same damage to the industry and<br />
the consumer.<br />
According to Michael Sobbi from Linda and Co. Designer <strong>Jeweller</strong>s,<br />
the secret to successful retailing is to refresh your offering<br />
accordingly by regularly researching and reviewing the market.<br />
With the ever-growing use of the internet as a research tool, customers<br />
are a lot more educated than they once were; ultimately, the people<br />
representing the trade must be more highly skilled than ever before in<br />
order to gain a customers confidence.<br />
Focusing on those who are professional and have a passion for the<br />
industry is a sure way to improve not only the sales of the business,<br />
but also its customer relationships and service levels.<br />
Strengthening customer relations is vital. Customers remember the<br />
experience of the sale and will return if the experience was positive. And<br />
remember, customers don’t have to choose you. In the face of rising gold<br />
prices (and subsequent jewellery prices) jewellery has become a luxury.<br />
People are prepared to travel further to a jeweller whom they believe<br />
will give better service, better choice and better value.<br />
By providing only the highest quality service and constantly undertaking<br />
research and review, all retail jewellers can unlock rapid growth in their store.<br />
FIND US ON INSTAGRAM<br />
MILLENNIUM_CHAIN<br />
Australian leading wholesaler, specialising in manufacturing<br />
9ct and 18ct yellow gold, rose gold and white gold.<br />
Machine made and hand made, any kind, chains and bracelets,<br />
bangles and findings. Suppliers to retailers and wholesalers.<br />
MILLENNIUM CHAIN<br />
P: 03 9650 5955 | E: sales@millenniumchain.com.au<br />
www.millenniumchain.com.au
FEATURE: INDUSTRY INSIGHT<br />
What do<br />
jewellers<br />
think about...<br />
PRICE TAGS?<br />
It’s an age-old debate within the jewellery industry –<br />
price tags, yes or no? SAMUEL ORD explores the<br />
pros and cons of labelling jewellery with price tags.
WHAT DO JEWELLERS THINK ABOUT PRICE TAGS?<br />
Razmik Avakian<br />
RAZMIK & CO.<br />
"It shows a certain<br />
amount of respect for<br />
your customer and more<br />
importantly, that you<br />
respect their time.”<br />
Marissa Tomah<br />
VERVE JEWELLERS<br />
"Some customers are<br />
hoping to play it safe<br />
and will just assume that<br />
they can’t afford an item<br />
- in those cases everyone<br />
misses out.”<br />
W<br />
hen customers browse the price tag<br />
on any given item, the tag plays an<br />
important role in the emotion generated<br />
during that initial contact.<br />
This is the case whether it be something<br />
as big as a vehicle parked in a car yard or<br />
something as small as a diamond ring in<br />
a store’s front window.<br />
Academics from around the world have<br />
exhaustively studied sales techniques searching<br />
for that ‘silver bullet’ formula – and while it’s<br />
never been discovered, we have learned that<br />
there are a number of crucial elements that go<br />
into successfully communicating the price of a<br />
product to a customer.<br />
By now it’s likely you’re familiar with the ‘9<br />
Factor’ – it’s such a well-established retail play<br />
that not only do the majority of business owners<br />
know about it – so do the majority of customers.<br />
Items priced to end in a 9, 99 or 95 are known<br />
as ‘charm prices’ because consumers have<br />
been culturally conditioned to associate prices<br />
that end with a 9 as being discounted or reduced,<br />
even when they’re not.<br />
Furthermore due to what’s known as ‘left-digit<br />
bias’ customers’ perceptions are more heavily<br />
weighted towards the numbers we read first –<br />
meaning $10.99 feels more like $10 than it<br />
does $11 and that $397.99 feels more like<br />
$300 than it does $400.<br />
Likewise, font size on price tags matters too.<br />
Professors at the University of Connecticut<br />
found that customers perceive sale prices to<br />
be a better value when the price is written in<br />
a small font rather than a large, bold typeface.<br />
Customers mentally tend to associate prices<br />
with a larger front as having a higher numerical<br />
value, merely due to the ‘big’ nature of the text.<br />
It’s also common to believe that a price displayed<br />
with a larger font is the ‘original’ price whereas<br />
discounted pricing is expected to be smaller.<br />
Think of clothing stores placing a reduced<br />
price sticker on top of the original bigger tag.<br />
“Items priced to end in a 9,<br />
99, or 95 are known as ‘charm<br />
prices’ because consumers<br />
have been culturally<br />
conditioned to associate<br />
prices ending with a 9 as being<br />
discounted or reduced, even<br />
when they’re not.”<br />
It’s usually done that way to avoid the timeconsuming<br />
practice of retagging the clothing,<br />
however, it’s that kind of practice that has<br />
conditioned customers to view smaller price<br />
tags as those that have been discounted.<br />
Lose the tag?<br />
Understanding the ‘tricks’ of the trade is<br />
important – but what if you could avoid<br />
the stress of getting all the smaller details<br />
right by doing away with price tags entirely?<br />
Marc Salzmann, director of Micheli <strong>Jeweller</strong>y,<br />
says that presenting jewellery items without a<br />
tag can open up new opportunities for sales staff.<br />
“With some of the more expensive pieces of<br />
jewellery leaving the price tag off opens the<br />
door for an important conversation between<br />
the customers and our staff,” he explains.<br />
“When a customer is forced to ask how much a<br />
ring or necklace is worth, sales staff are given<br />
the chance to share the background of the item<br />
and what makes it important or appealing.<br />
When you take this approach you also get<br />
the opportunity to justify why an item might<br />
be priced the way that it is – while having the<br />
price tag out in the opening might otherwise be<br />
enough to turn a customer away from a piece<br />
they really like.”<br />
Salzmann added that Micheli <strong>Jeweller</strong>y uses a<br />
mixed approach, openly pricing some pieces of<br />
jewellery while leaving others a mystery.<br />
“Opening the door for the sales staff to build<br />
some rapport through conversation is another<br />
important benefit,” he added.<br />
“We also understand that some of our customers<br />
like to have the pricing information readily<br />
available, so we price many items openly.”<br />
William Stone is a third-generation jeweller<br />
working at the family business in Brisbane -<br />
Stones Diamond Ring Specialists.<br />
Stone sees immense value in conversation<br />
with customers and says that avoiding price<br />
tags opens the door to new opportunities.<br />
“For the stores with higher priced items, leaving<br />
the price off a necklace, ring or set of earrings<br />
gives any member of staff the chance to speak<br />
with a customer in-person, in-depth, and<br />
hopefully at length,” Stone explains.<br />
52 | <strong>December</strong> <strong>2022</strong>
DIAMOND LABORATORY<br />
Specialising in:<br />
• Argyle origin<br />
• Coloured diamonds<br />
• Synthetic diamonds<br />
• Rough diamonds<br />
www.deltadiamondlab.com<br />
0439 209 933<br />
03 9764 2165<br />
sales@lacouronnejwl.com.au<br />
www.lacouronnejewellery.com.au<br />
Bracelets & Necklaces | Bangles | Earrings<br />
Pendants | Fine Chains | Rings | Findings<br />
Personalised <strong>Jeweller</strong>y | Cufflinks<br />
Email info@eugenesjewellery.com.au<br />
Address 802/125 Swanston Street, Melbourne VIC 3000<br />
Phone 03 9662 4486<br />
eugenesjewellery.com.au
New Designs<br />
WHAT DO JEWELLERS THINK ABOUT PRICE TAGS?<br />
IP153-PWG-BT<br />
Lisa Stephens<br />
MAX WILSON<br />
DIAMOND JEWELLER<br />
IP153-EWG-BT<br />
"When you’re upfront<br />
with information like<br />
how much a piece of<br />
jewellery costs, you save<br />
your customers any<br />
unnecessary effort."<br />
IP154-EYG-GA<br />
“It’s the chance to convey the significance of a piece of jewellery and<br />
perhaps more importantly why it’s priced the way that it is. It gives you<br />
the chance to build rapport and have a stronger connection through<br />
conversation, which is crucial in the jewellery trade.”<br />
Darren Nancarrow is the owner of Diann Darling <strong>Jeweller</strong>s in<br />
Engadine, New South Wales.<br />
Nancarrow has spent more than 30 years in the jewellery<br />
industry and he echoed the sentiment of Salzmann and Stone.<br />
IP154-PYG-GA<br />
“When a particular piece is truly one of a kind or unique, leaving<br />
the price tag off is a worthwhile idea because you’re giving your<br />
employees the opportunity to speak with the customer about the<br />
background of the item,” he said.<br />
IP83-BANGLE-YGP<br />
“Understanding the ‘tricks’ of the trade is<br />
important – but what if you could avoid the<br />
stress of getting all the smaller details right<br />
by doing away with price tags entirely?”<br />
“It also gives that employee the chance to leave a strong, favourable<br />
impression on the customer. Our business we don’t feel particularly<br />
strong either way – price tags or no price tags. It’s perfectly acceptable<br />
to do both.”<br />
Calm down!<br />
It’s no secret that shopping for jewellery can be a stressful<br />
experience. It’s more often than not a substantial investment,<br />
and for many people, it’s into a product which requires extensive<br />
research to understand.<br />
Luxury Pearl and Opal <strong>Jeweller</strong>y<br />
+61 2 9266 0636<br />
enquiries@ikecho.com.au<br />
www.ikecho.com.au<br />
Pair those circumstances with the nerves of the jewellery being<br />
for a special occasion, for example, a marriage proposal? That’s a<br />
recipe for stress!<br />
Marissa Tomah, of Verve <strong>Jeweller</strong>s in Stanhope Gardens in
William Stone<br />
STONES DIAMOND<br />
RING SPECIALISTS<br />
“It gives you the chance to<br />
build rapport and have a<br />
stronger connection through<br />
conversation, which is crucial<br />
in the jewellery trade.”<br />
New South Wales, says using price tags can relax customers<br />
in an otherwise stressful time.<br />
“I think it’s important we use price tags and open pricing with<br />
customers because it’s often a very intimidating or daunting<br />
experience entering a jewellery store for the first time,” she says.<br />
“Particularly in a high-end store! If an item doesn’t have a price tag,<br />
you automatically run the risk of an otherwise nervous customer<br />
assuming that the item is well and truly outside of their budget,<br />
when perhaps it might not be.”<br />
“Customers mentally tend to associate<br />
higher prices with a larger font as having a<br />
higher numerical value, merely due to the<br />
‘big’ nature of the text.”<br />
She continued: “Some customers are hoping to play it safe and will<br />
just assume that they can’t afford an item – and in those cases,<br />
everyone misses out. A customer misses out on an item they really<br />
like and the jewellery store or business loses a sale.<br />
It’s often said today that the average person is comparatively ‘timepoor’<br />
when compared to generations past.<br />
What it means to be time poor can differ from study-to-study. For<br />
most it’s defined as the chronic feeling of having too many tasks to<br />
complete in too little time.<br />
available in 9ct & 18ct gold and platinum<br />
“Over the past two decades, global wealth has risen,” a recent<br />
report from Nature reports.<br />
“Yet material affluence has not translated into time affluence.<br />
Most people report feeling persistently ‘time poor’ — like they<br />
have too many things to do and not enough time to do them.”<br />
Respecting this widespread phenomenon and placing emphasis on<br />
saving time for customers is something Lisa Stephens, of Max<br />
FINE JEWELLERY MANUFACTURERS<br />
MARKMCASKILL.COM.AU<br />
+61 (08) 8352 1400 | sales@markmcaskill.com.au<br />
ADELAIDE | BANGKOK
WHAT DO JEWELLERS THINK ABOUT PRICE TAGS?<br />
Marc Salzmann<br />
MICHELI JEWELLERY<br />
Darren Nancarrow<br />
DIANN DARLING JEWELLERS<br />
“Opening the door<br />
for sales staff to build<br />
some rapport through<br />
conversation is another<br />
important benefit.”<br />
“It also gives that employee<br />
the chance to leave a strong,<br />
favourable impression on the<br />
customer. Within our business,<br />
we don’t feel particularly<br />
strongly either way - price tags<br />
or no price tags.”<br />
Wilson Diamond <strong>Jeweller</strong>s, says is immensely<br />
important.<br />
“We place price tags on everything in our store<br />
because we think our customers prefer to be<br />
offered the information up front and it helps<br />
them make an informed decision quickly,”<br />
Stephens explains.<br />
“In my opinion it’s really important to keep<br />
shopping at our store an efficient and enjoyable<br />
experience. When you’re upfront with information<br />
like how much a piece of jewellery costs, you save<br />
your customers any unnecessary effort.”<br />
Survey<br />
In April of 2021, Instore performed a survey<br />
of readers posing this very question – “should<br />
jewellers show prices?<br />
The outcome may surprise you! 42 per cent of<br />
responders said they would like jewellery stores<br />
to display prices, while 58 per cent said they<br />
preferred it be kept a mystery. Among the more<br />
interesting responses from those wanting prices<br />
to be displayed…<br />
• Customers appreciate the information being<br />
made available without the need to ask.<br />
• It puts customers at ease and removes the<br />
anxiety of asking about an item they may not<br />
be able to afford.<br />
• It gives customers more confidence in the<br />
jewellery store and removes an uncertainty.<br />
While the majority of those who responded<br />
to the survey said they preferred pricing kept<br />
secret for the following reasons…<br />
• It looks messy and displays appear cleaner<br />
without price tags.<br />
• Sales staff are given a chance to build<br />
rapport with customers when they need to<br />
ask how much an item costs.<br />
• Price tags take away from the value of a<br />
luxury item like jewellery – unique items are<br />
about what they mean to the possessor and<br />
not the mere value.<br />
“What it means to be<br />
‘time-poor’ can differ from<br />
study-to-study. For most, it’s<br />
defined as chronic feeling<br />
of having too many tasks to<br />
complete in too little time.”<br />
It’s a matter of respect<br />
The majority of the jewellery industry members<br />
<strong>Jeweller</strong> spoke to in preparation for this feature<br />
were comfortable acknowledging the strengths<br />
and weaknesses of both sides of the argument.<br />
One individual – an industry veteran with decades<br />
of experience – wouldn’t sit on the fence and<br />
emphasised his belief that placing price tags<br />
on items is about showing respect for your<br />
customers.<br />
“I think it’s very important that a jewellery store<br />
has its pricing on every item clearly displayed.<br />
You must do it! It shows a certain amount of<br />
respect for your customer and more importantly,<br />
it shows that you respect their time,” says<br />
Razmik Avakian of Razmik & Co.
“I see people putting up signs outside jewellery<br />
stores – 50 per cent off! 50 per cent off<br />
what I ask? You can also save people a lot of<br />
embarrassment by making it clear how much<br />
an item costs.<br />
He continued: “Perhaps they love an item, a<br />
necklace or a ring, but because it’s not priced<br />
clearly they ask and find out that they can’t<br />
afford it – that’s very disappointing for them.<br />
In my experience, so many people will not<br />
bother to enter a jewellery store that does not<br />
have prices clearly printed and as a business<br />
owner, you’re losing those sales before you’ve<br />
even had the chance to say hello.”<br />
“42 per cent of responders<br />
said they would like jewellery<br />
stores to display prices,<br />
while 58 per cent said<br />
they preferred it be<br />
kept a mystery.”<br />
The rules<br />
There are many additional reasons why one<br />
may choose to conceal the price of an item of<br />
jewellery.<br />
Private pricing can help a business avoid unfair<br />
competition from nearby rivals who may use<br />
the information to dominate a specific category<br />
with targeted pricing.<br />
Some retailers offer a wide range of jewellery<br />
products in terms of pricing – earrings from<br />
as low as $80 near diamond rings worth many<br />
thousands of dollars.<br />
It’s natural for a jewellery store to want to<br />
proudly display the most expensive inventory,<br />
however, when it’s paired with a heavy price<br />
tag, that may be enough to scare some<br />
customers away from the store forever. This is<br />
a disaster if there’s plenty on offer within their<br />
budget!<br />
All of these factors and more are important –<br />
but not as important as following the guidance<br />
of Australia’s trade practice enforcement<br />
– the Australian Competition and Consumer<br />
Commission (ACCC).<br />
The ACCC’s advice on the matter of pricing is<br />
simplied into five simple points.<br />
• Businesses must display clear and<br />
accurate prices, and must not mislead<br />
consumers about their prices.<br />
• There are specific laws about how<br />
businesses must display their prices.<br />
• Businesses must display a total price that<br />
includes taxes, duties and all unavoidable<br />
or pre-selected extra fees.<br />
• If a business charges a surcharge for card<br />
payment, weekends or public holidays, it<br />
must follow the rules about displaying the<br />
surcharge.<br />
• If more than one price is displayed for an<br />
item, the business must charge the lowest<br />
price, or stop selling the item until the<br />
price is corrected.<br />
Anything outside of those key points is fair<br />
game!
10 FACTORS TO CONSIDER<br />
1<br />
Saves the customer time by preventing the need to<br />
inquire about an item that may be outside of their<br />
budget.<br />
2<br />
A<br />
lack of clear pricing makes jewellery feel<br />
more like a piece of artwork, rather than a<br />
commodity with a set value.<br />
1/2 PG V<br />
ADVERTISEMENT<br />
3<br />
The<br />
4<br />
<strong>Jeweller</strong>y<br />
‘mystery’ generated by the lack of a price<br />
tag opens the door for sales staff to converse<br />
with customers and build rapport.<br />
stores look ‘cleaner’ and present better<br />
with more of an emphasis on the product itself<br />
without price tags.<br />
5<br />
Sales<br />
6<br />
Correctly<br />
staff are given the opportunity to share<br />
interesting background information about a piece<br />
of jewellery when customers ask about the price<br />
due to a lack of tag.<br />
pricing each item on display within<br />
a jewellery store can be extremely time<br />
consuming for staff.<br />
7<br />
A<br />
business may be ‘under cut’ by rivals who use<br />
the information displayed on price tags to provide<br />
discounted offerings.<br />
Solid Gold Collection<br />
Established for over five decades, Classique is renowned for high<br />
quality, elegant and ageless timepieces. Classique’s range of Solid<br />
Gold watches come classiquewatches.com<br />
in various designs, some featuring diamonds<br />
and are engineered with Swiss made movements. Suitable for<br />
every occasion. Stylish, modern, classic, and timeless pieces.<br />
ClassiqueWatches.com<br />
8<br />
A<br />
9<br />
Expensive<br />
10<br />
customer who asks about a piece of jewellery<br />
without a tag that is outside of their budget may<br />
feel embarrassed after finding out the price.<br />
items on display can be intimidating for<br />
customers, pushing them away from a store when<br />
it’s possible other items match their budget.<br />
An issue or error with the price tag on an item<br />
could be costly for a business and frustrating<br />
for a customer.<br />
Become a stockist today 02 9290 2199
SAMS GROUP<br />
AUSTRALIA<br />
Sams Group Australia’s Argyle pink diamond collection<br />
Whether you are investing in a tender stone, looking for some melee to complete a custom<br />
design or just a single pink diamond, you will find them stocked at Sams Group.<br />
TENDER STONES<br />
SINGLE STONES<br />
MATCHED PAIRS<br />
CALIBRATED MELEE LINES<br />
1 to 9PP/P/PR<br />
Apply for wholesale access via QR code or call our friendly team 02 9290 2199
Change language