Jeweller - March 2024

VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY MARCH 2024
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MARCH 2024
Contents
This Month
Industry Facets
15 Editorial
28
10 YEARS AGO
Time Machine: March 2014
16 Upfront
31
LEARN ABOUT GEMS
Game-Changing Gemmologists: VII
18 News
70
MY BENCH
Alex Hamilton
41 FASHION JEWELLERY
Exciting opportunities
55 Show & Tell
72
SOAPBOX
Marion van der Krogt
Fashion jewellery offers retailers the
opportunity to forge a connection with
the next generation of consumers.
Features
32
41
47
STATE OF THE INDUSTRY REPORT - ADDENDUM
What's going on in Queensland?
FASHION JEWELLERY
Improve your connection with the next generation
WATCH TRENDS
Industry analysts voice their thoughts on the year ahead
Better Your Business
47 WATCH TRENDS
Time for change
It's shaping up to be a year to remember for
the watch industry, with long-entrenched icons
challenged by new and innovative brands.
64
66
67
68
BUSINESS STRATEGY
How do you improve your business? RYAN ESTIS asks four key questions.
SELLING
DAVID BROWN explains the difference between product and sales training.
MANAGEMENT
You know what they say about assumptions? DALE FURTWENGLER offers advice.
MARKETING & PR
DENYSE DRUMMOND DUNN questions how well you know your customers.
32 STATE OF THE INDUSTRY REPORT
Beautiful one day,
perfect the next
In the latest addendum to Jeweller's 2024
State of the Industry Report, the complex and
often baffling retail landscape of Queensland
is put under the microscope.
55 SHOW & TELL BUYING GUIDE
Latest and greatest
Learn all about the latest new products
from industry leading suppliers ahead
of the Australian Jewellery Fair on
the Gold Coast.
69
LOGGED ON
SIMON DELL explains the inner workings of social media algorithms.
FRONT COVER
For more than 130 years, EDOX watches
have combined ultimate precision with
ingenious solutions – even for the most
demanding activities: be it above or below
the water surface, in the eternal ice or
even on glowing desert sand. Any timing
instrument from EDOX carrying the
legendary hourglass logo will meet even
the highest demands of its owner.
Learn more: dgau.com.au/edox
March 2024 | 13

T H E W A T E R C H A M P I O N
Forged from the same rugged DNA as its
predecessor, the new Neptunian Grande
Réserve features a scratch-resistant
ceramic bezel and sapphire crystal. At the
heart of this new Neptunian lies the new
calibre 808, which boasts a generous 68-
hour power reserve (réserve de marche in
French). With this remarkable improvement,
the Neptunian Grande Réserve is tailored
to excel both in and out of the water.
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14 | March 2024

Editor’s Desk
Stating the bleeding obvious: Who can you trust?
Many trade associations fail to uphold the standards they set themselves.
SAMUEL ORD discusses an ongoing issue facing the jewellery industry.
One of the hardest lessons we learn is to
be cautious of people who utter the words,
“Trust me.” The same rule applies to
anyone who says, “Believe me”.
These are off-handed statements people
liberally use; however, they betray a profound
fear. It's a suspicion that they need to
demand your confidence for one reason or
another.
We must be wary of people who make
claims about things that should be implicit.
Trust and faith are the foundations of the
jewellery industry. The international diamond
industry was built on trust; one only needs
to consider the concept of “appro”. In turn,
retailers must be able to trust suppliers, and
consumers must trust retailers.
Maintaining this trust is crucial to the
longevity of the jewellery industry. Yet,
we find so many people – particularly in
positions of ‘authority’ - routinely threatening
to undermine this faith by failing to adhere to
the standards they publicly set themselves.
Transparency, ethics, provenance,
truthfulness and leadership are common
corporate buzzwords that have entered all
industries; however, they are particularly
prominent in the jewellery industry.
Sadly, the more people, businesses, and
even industry organisations use these terms,
the less likely they appear meaningful.
It goes without saying that transparency
and ethical behaviour are important, as
are truthfulness and leadership; however,
I am continually amazed at the number of
organisations in this industry that do not
practice what they preach.
As an example, consider the World
Federation of Diamond Bourses (WFDB) and
its track record of missteps and problems.
The WFDB website states that it promotes
“trust, transparency and integrity among all
members of the industry.”
In early February, the WFDB distributed a
press release making claims about a legal
decision in France to “ban the use of all
terminology other than synthetic for nonnatural
diamonds.”
Although this appeared to be an important
development for the diamond industry,
Jeweller could only find one outlet covering
the story – and the details were sparse.
On 12 February, director of communications
Sharon Gefen was contacted to verify the
WFDB’s claims. A request was made for
any background information used to prepare
the press release because Jeweller could
not locate any official announcements from
French government sources.
Ms Gefen replied, stating that the
information for the press release came from
the “French and US media”, confirming that
she had not used government information.
Additionally, she did not provide source links
or any further information as requested.
On 13 February, the request was repeated
– pointing out that we could not verify any
of the WDBF’s claims. Ms Gefen was asked
if she could direct us to any news reports
she had seen detailing the matter. In an
extraordinary reply, she said, “I suggest you
use Google to find the media reports.”
In more than a decade of working in the
media, I’ve never encountered a response
of this nature. Organisations are usually
eager to ‘spread the word’ about their topic
of interest – particularly when they have
already issued a press release addressing it!
The WDBF’s president, Yoram Dvash,
was contacted and asked if this was an
acceptable way for a media representative to
communicate with the international media.
This was particularly important given the
WDBF had made claims for which it was
now refusing to provide evidence.
The WDBF effectively alleged that many
French jewellery companies were routinely
breaking the law.
Three factors were taken into consideration:
the lack of details in the release, the timing
of the release following the publication of a
story online similarly devoid of detail, and
the reluctance of Ms Gefen to provide any
background information. It seemed plausible
that the press release may have even been
issued due to said story.
Mr Dvash never responded; however, in what
appeared to be an embarrassing attempt
to save face, Ms Gefen would later send
a follow-up email containing snippets of
background information.
Unfortunately, several industry publications
published the WDBF’s claims – many
verbatim – without questioning their
accuracy or veracity.
These are
off-handed
statements
people liberally
use; however,
they betray a
profound fear.
It's a suspicion
that they need
to demand your
confidence for
one reason or
another.
They chose to accept the word of the WDBF
unchallenged.
In the weeks that have followed since that
exchange, at least two media organisations
have published thorough reports detailing the
intricacies of the ruling, which cast further
doubt over the WDBF’s media release.
That is to say, none of these intricacies – such
as the fact that it was a decision to uphold a
ruling from 2002 and not the introduction of
a new legislation - were ever reflected in the
initial WFDB press release.
The brief 200-word statement – the majority
of which was not about the French decision –
and the unwillingness of the WFDB to provide
source material raised questions about how
thoroughly the federation even understood
the matter before issuing a public opinion.
It was a shocking sequence of events from an
organisation that claims to promote “trust,
transparency and integrity."
I’ve been with Jeweller for two years, and in
that time, I’ve witnessed a surprising number
of ‘industry-leading’ associations fail to
adhere to their self-described standards.
The Diamond Dealers Club of Australia has
refused to provide membership figures, as
did the Jewellers Association of Australia.
The Responsible Jewellery Council did
not acknowledge issues with its online
membership directory, which contained
hundreds of incomplete records and listed
companies that appeared not to exist.
These organisations will gladly tell you
the importance of ethics, transparency,
truthfulness and leadership – and yet, when
asked simple questions about membership
figures, they are suddenly silent on
‘transparency'. Why?
It's as if transparency and truthfulness must
relate to your business but not theirs!
These moments of weakness threaten the
overarching trust within the industry, and one
can only wonder what kind of flow-on effects
these incidents have on consumer trust in an
industry already burdened by misconception.
So why do we see this endless parade of
supposed values, and what causes so many
of these industry bodies to fall short when
asked basic questions?
SAMUEL ORD
EDITOR
March 2024 | 15

Upfront
Stranger Things
Weird, wacky and wonderful
jewellery news from around the world
Six and out
Based in Surat, India,
Diamond Tech Company has
crafted a natural rough diamond
into a 1.04-carat polished stone
resembling a cricket bat. The
diamond's ‘skin’ has deliberately
been left intact on the handle and
elsewhere as proof that it is not a
lab-created stone. The diamond is
a gift from an unnamed fan to Virat
Kohli, former captain of the Indian
national cricket team. His name
had been inscribed on the diamond.
JLO makes a statement
In the music video for her
latest single, Can't Get Enough,
US popstar Jennifer Lopez wears
a diamond necklace valued at
$US340,000. The Eka Mia Luca piece
is from a collection by the Italian
brand Fope. Fope was founded
in 1919 by Umberto Cazzola,
who opened his first goldsmith's
workshop in Vicenza, Italy. Lopez
is no stranger to fine jewellery - in
2023, she more than 235 carats of
diamonds to the Grammys.
Sunken treasures
Emerald jewellery that
lay undiscovered at the bottom of
the sea for more than 360 years has
been displayed in New York City.
A royal orb, a cross on a necklace,
and a ring have been purchased
by Muzo Emerald Colombia, the
company that operates the mine
where the emeralds were originally
mined. These pieces were on
board the galleon Nuestra Senora
de Atocha, packed with gold and
silver, when it sank in 1622 during a
hurricane in Florida.
Rewind: Best Bench Tip
NOVEMBER 2015
“If you make a mistake,
start again.”
DAVID MANSFIELD
DAVIS MANSFIELD
JEWELLERS
HISTORIC GEMSTONE
The Regent Diamond
The Regent Diamond is a 140-carat
diamond owned by the French state
and displayed in the Louvre. The
origins of the diamond are unknown;
however, according to legend, it was
unearthed by an enslaved man in the
Kollur Mine near the Krishna River.
The man supposedly concealed the
diamond in a leg wound, which he
suffered while fleeing the siege of Golconda. Following his escape, he
made it to the Indian coast, where he met a sea captain who offered
him half of the profits from the diamond sale in exchange for safe
passage out of India. However, the sea captain betrayed the man and
killed him, eventually selling the diamond to a merchant in India. The
diamond is said to be cursed as a result of the betrayal.
Will your
business enjoy
the benefits
of automation?
Retail workforce shortages in
Australia are well-documented,
and businesses increasingly turn
to automation as a solution. In
2024, this is expected to extend
well beyond self-serve checkout
stations. Automation is making a
mark in warehousing, inventory
management, and ordering. A
recent study from US-based market
researchers McKinsey & Company
suggests that 52 per cent of all retail
responsibilities can be automated
with existing technology. This leads
to reduced human errors, improved
service quality for customers, rising
employee productivity, and reduced
business expenses.
Timeless Trends
Earrings are only getting bigger and
bolder in 2024. Classic designs such
as hoop and drop earrings continue
to be preferred among jewellery
lovers; however, you can expect to see
more styles throughout 2024. Large
chandelier earrings that were popular
among stars such as JLO and Beyonce
are back in a big way.
Campaign Watch
Pandora has released a new
marketing campaign, ‘Be Love', which
features a global roster of artists,
actresses, and musicians. The campaign
will promote a range of Pandora
collections, including sterling silver and
14-carat gold designs, Murano glass,
and lab-created diamond jewellery.
The campaign's global ambassadors will
include artists Chloe and Halle Bailey and
author Selma Blair, among others.
Image: Vogue
Image: Pandora
VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY
Published by Befindan Media Pty Ltd
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Copyright All material appearing in Jeweller is subject to copyright. Reproduction in whole or in part is strictly forbidden without prior written consent of the publisher. Befindan Media Pty Ltd
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News
News
Iconic Australian jeweller
creates PM's engagement ring
Sales momentum: Pandora shines in holiday season
In an unusual first for Australian politics, Prime
Minister Anthony Albanese announced his engagement
to partner Jodie Haydon on Valentine’s Day.
Albanese broke the news by posting a picture of
the pair on social media with the caption, “She said
yes”. Depending on the timing of the event, he is
expected to be the first Australian prime minister to
get married while in office.
Speculation immediately arose around the specifics
of the custom-made diamond ring Haydon has since
been seen wearing.
Albanese revealed that he chose Cerrone Jewellers
in Leichhardt, New South Wales, for the ring.
While the specifics of the piece remain uncertain,
it’s believed to be a three-carat round brilliant cut
diamond set in an 18-carat rose bold band.
“I sat down with him [Nicola Cerrone] and his
daughter and went through what it would look like
to design, and then we exchanged ideas about that,
and they put it together,” Albanese told Nova FM.
Pandora has published its fourth-quarter
financial report detailing a strong increase in
sales during a successful holiday season.
Revenue increased by 9 per cent on a year-onyear
comparison in the fourth quarter, achieving
sales of DKK10.82 billion ($AU2.39 billion).
Online sales improved by 13 per cent, while profit
increased by seven per cent. CEO Alexander
Lacik said that the company was particularly
pleased with Black Friday and Christmas sales.
“We are very pleased with how we ended 2023
with strong trading across the holiday season,”
he said.
"Looking back at the past two years since we
launched the Phoenix growth strategy, we
are proud of how our strategic initiatives have
come together to consistently drive strong
results despite the challenging macroeconomic
backdrop. In 2024, we target continued solid
and profitable growth as we execute on the next
chapter of Phoenix.”
Sales remained strong in the US and UK, paired
with a decline in China. Full-year sales improved
by six per cent to DKK28.14 billion ($AU6.23
billion), while profit declined by six per cent.
Revenue in Australia declined by six per cent in
the fourth quarter on a year-on-year comparison.
The company anticipates revenue to increase by
between six and nine per cent this year.
Pandora recently released a new marketing
campaign featuring various musicians,
actresses, and artists.
Lovisa: Strong sales as global expansion continues
“And that’s special because it’s one of a kind, which
is the sort of work that Cerrone produces, and it’s
made in Grayndler in the inner west of Sydney,
which I’m really proud of as well.”
In April of last year, Nicola Cerrone was presented
with a Medal of the Order of Australia at a ceremony
at Government House.
He was acknowledged for his contributions to
Australia’s arts, manufacturing and business sectors.
Albanese added: “He’s an amazing jeweller, and he
employs these extraordinary artists and has always
employed apprentices. I really admire the way he is so
passionate about the Australian industry. And he exports
to the world as well as supplies here in Australia.”
Cerrone oversees Australia’s largest handmade jewellery
workshop, with an emphasis on elevating the next
generation of artisans with apprenticeship programs.
Australian fashion jewellery chain Lovisa has
published another impressive sales report,
documenting a significant increase amid
international expansion.
Lovisa reported an 18.2 per cent increase
in sales in the first half of the financial year,
reaching $373 million. The company opened 74
new stores during the six-month period and now
operates in more than 40 countries worldwide.
The company has opened nine additional stores
since the start of the year, taking the network to
860. Jeweller’s 2024 State of the Industry Report
documented 175 stores in Australia.
“The company has continued to deliver solid
sales and profit growth and invested in the
structures to support our steady global
expansion,” CEO Victor Herrero said.
“This positions us strongly to move forward with
growth in both existing and new markets.”
Lovisa’s operating profit improved by 16.3 per
cent to $81.6 million. The company reported
a record 33.1 per cent increase in revenue
for the past financial year, achieving sales of
$596.5 million.
18 | March 2024

News
Membership blow: Major jewellery chain quits JAA, membership figures still unknown
One of Australia’s oldest jewellery businesses
has cancelled its membership with the Jewellers
Association of Australia (JAA).
Bevilles has been the ‘talk of the town’ over the past
12 months following its acquisition by Michael Hill
International in April last year.
At the time, CEO Daniel Bracken announced plans
to open more than 80 new Bevilles stores before
2028, including expansion into New Zealand and
Canada, forecasting an optimistic future for a
business founded in 1934.
Unfortunately, the JAA will not benefit from this
expansion. On Thursday, a spokesperson for
Michael Hill International confirmed that it had not
renewed the Bevilles JAA membership.
It’s the latest in a long-running trend of larger
jewellery businesses disassociating themselves
from the industry association. In past years,
small-to-medium jewellery chains such as Shiels,
Hoskings, and Anthony’s have deserted the JAA.
Indeed, even large chains such as Pandora,
Zamels and even the former ASX-listed retailer
Angus & Coote - and Michael Hill also - were once
members; however, all major jewellery chains have
slowly abandoned the JAA.
Last man standing
The cost of JAA membership is based on the
number of stores operated by the retailer, which
means the larger the store count, the larger the
annual membership fee.
With Bevilles (30 stores) no longer listed on the JAA
website, Salera’s has been left as the ‘last man
standing’ regarding jewellery chains supporting the
association.
Managing director Frank Salera was a JAA board
member for several years, joining in January 2016.
With that said, in another embarrassing twist, the
'Find a JAA Jeweller' online directory page lists
Salera’s stores that don’t exist.
The 2024 State of the Industry Report recorded 17
Salera’s stores in Australia, with five in Queensland
and 12 in Victoria. The JAA website records 20
Salera’s stores.
Three of the stores listed on the JAA website have
not operated for some time, and one phone number
is answered by another retail business.
Definition debate
This situation calls into question some of the claims
made by the JAA, which could put the association
at odds with the Australian Competition and
Consumer Commission (ACCC), namely Section 18
of Australian Consumer Law
Jeweller previously estimated the number of
retail members at the end of 2023 to be 316 –
representing around 350 stores – while the JAA’s
website claims “a current membership of around
650 outlets.”
Although the online directory has been updated to
remove Bevilles stores following the resignation,
the ‘650 outlets’ claim remains on the website
today - and that is without taking into account the
inflated figure for Salera’s stores and any other
possible errors.
While it may be the loss of just one member with 30
stores, the loss accounts for an immediate decline
of around eight per cent for the JAA’s store count.
Membership figures remain unknown
Despite attempts to clarify the association’s current
membership figures as part of the 2024 State of the
Industry Report, exact details remain unclear.
The last membership figure provided was JAA
president Joshua Sharp estimating that the
association had “around 400” members for 2022.
As documented in the SOIR, the JAA was unwilling
to provide its current membership and store
figures for the 2023 calendar year despite multiple
requests from Jeweller.
For that reason, researchers calculated
membership at around 316 using the JAA website
after removing faulty data and duplicate records.
The JAA has not disputed or corrected this figure.
Some members appearing on the directory page
had closed their stores or were no longer in
business despite remaining on the JAA website.
As noted above, the JAA website still states: “With a
current membership of around 650 outlets and the
median length of membership being 19 years, the
JAA covers all areas of the jewellery industry – from
manufacturing, wholesaling, distribution to retail".
The terminology “outlets” is interesting because
the JAA has always recorded actual paid members
in its annual financial statements, which were on
the public record with the Australian Charities and
Not-for-profits Commission (ACNC).
In a separate controversy, the JAA recently
contravened reporting regulations with the
ACNC when it failed to report amendments to its
Constitution within the required timeframe.
That aside, the JAA's membership figures are no
longer made public on the ACNC website, which is
why Jeweller requested the data directly from the
association.
Furthermore, while it’s true that one member may
represent many stores, it’s worth noting that the
JAA has not had more than 650 members since
2016 (744).
When questioned about this matter, JAA operations
manager Megan Young gave an unusual response:
“Outlet means a point of distribution, including but
not limited to retail and wholesale.”
Essentially, this means the JAA can call anything
an 'outlet'.
The conventional definition of an 'outlet' is: “a store,
shop or other commercial establishment selling
goods direct to the public, often from a single
manufacturer or producer.”
Young was also asked to provide a breakdown
of the JAA’s membership in terms of retailers
(physical stores and online) and supplier/
wholesaler members.
This was to determine how the figure of '650
outlets' was reached, given that students, retired
members, associates, etc, would not be deemed an
outlet based on the definition provided.
Young did not respond to this request at the time
of publication.
The use of the word ‘outlets’ was deemed worthy
of further consideration not only because of its
questionable accuracy but also because the JAA is
a 'member-based association', not an 'outlet-based
organisation'.
Indeed, it would seem unusual that a memberbased
association would not list its membership
figures – arguably, it should form the basis of its
industry marketing program. Instead, the JAA is not
open about the matter despite calling for "trust and
truthfulness" and transparency in the industry.
In 2010, the JAA represented 1,039 retail jewellery
stores, around 20 per cent of the market.
With the loss of another chain - along with the
inflated Salera’s store count and any other
potential errors - it’s likely that JAA members now
account for closer to 300 stores or around 8 per
cent of the market.
Jeweller will publish the updated figures if and
when the JAA corrects this information and/or
provides exact data.
MORE BREAKING NEWS
JEWELLERMAGAZINE.COM
March 2024 | 19

News
Jewellery retailers explore new approach to diamond supply
Purchasing diamonds has always been burdensome
for many retailers, with issues such as capital
investment, quality control, and unexpected
shortages leading to severe headaches.
A new diamond supplier has expanded its business
to Australia and New Zealand, intending to solve
many of these issues with an innovative new servicebased
model for retailers.
Canada’s HRA Group has launched Dialog, dubbed
the world’s first ‘subscription service’ for diamond
jewellery retailers.
The process is simple - retailers subscribe to Dialog
for a monthly fee. Dialog then provides retailers with
anywhere between $100,000 and $5 million in stock/
inventory – loose stones and finished jewellery -
which is held in-store by the retailer.
The monthly fee is 1 per cent of the total inventory
value up to $350,000, with the fee declining to 0.8
per cent beyond that.
The retailer pays the wholesale price only after a
diamond or jewellery piece is sold. A replacement
can be sent within 24-48 hours with no associated
fee for replenishing stock levels.
Pricing is reviewed quarterly to ensure it is
competitively priced against the market, and if
needed, any amendments are communicated to
retailers so they can adjust their pricing accordingly.
When a diamond or jewellery piece is sold, the
retailer receives an additional two per cent rebate,
which is deducted from the monthly subscription fee.
Dialog was launched in 2020 by co-founders Itay
Ariel, Reut Rothstein, and Aaron Ariel.
Rothstein said the company’s approach has been
slow and steady, and it is hoping to build long-term
relationships with suitable retailers.
“Most of our growth has been by word-of-mouth
so far. We currently have around 200 stores on
Dialog, and we usually partner with new retailers
due to recommendations from their friends,” she
told Jeweller.
“The most common feedback we receive is that
we’ve freed up more time for retailers. Most
business owners are responsible for stock
management, so things like travelling overseas
for buying trips and time-intensive quality control
procedures are no longer necessary.”
Rothstein said that the most high-profile
endorsement of Dialog so far has been US chain
Ben Bridge Jeweler, which has 35 stores. She
explains that each store services a unique market,
so a custom merchandise mix is generated for
every location.
To determine the optimal merchandise mix, routine
sales analysis is performed by Dialog to build
custom recommendations for retailers.
A new Australian division of HRA Group has been
established in Australia. It is headed by director
of sales Nicole Bender, who explained that there
are several key differences between Dialog and
traditional ‘call stones’ or consignment agreements.
Firstly, the diamonds and jewellery are held by
the retailer in-store indefinitely, with no sense of
urgency or ‘rush to sell’ because Dialog will not
request a return of inventory.
In addition, jewellers are free to set loose diamonds
in any jewellery they like, and retailers can request
any diamonds or jewellery available in the Dialog
inventory. Retailers can also return diamonds or
jewellery to Dialog at any time – there’s no obligation
to stock specific inventory.
“We’ve recently expanded into Australia, and we
have a few really good retailers on board already.
So far, the reception has been really positive from
everybody that we’ve spoken to,” Bender said.
“The message that stands out the most is that
many people have never heard of something
like this – it really is something new to the
market and the industry.
“Because of this, some people find it difficult to
grasp the service initially – because it can seem
too good to be true. They often jokingly ask what
the catch is.”
She continued: “The only thing I have to say to
that is that the whole premise of the program is
to sell more diamonds and diamond jewellery, and
that’s why we are looking for the right retailers
to work with. We do well if they do well; it’s as
simple as that.”
Dialog owns all inventory/stock and is not a thirdparty
aggregator, with a six-month trial available. If
the service doesn’t fit the business, the diamonds
are returned to Dialog and subscription fees are
refunded to the retailer.

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News
Gold Coast jewellery trade show sold out
Hot on the heels of the successful
Melbourne Jewellery Expo earlier this
month, Expertise Events is set to open
its second trade show for the year.
The Australian Jewellery Fair (AJF),
scheduled for 24-25 March at the
Gold Coast Convention Centre, sold
out weeks ago.
With nearly 70 individual exhibitors,
the 2024 AJF will launch under the
theme ‘Beyond the Horizon’.
Fair organiser, Gary Fitz-Roy, explained
that the theme “captures the essence
of a journey into the future of jewellery,
offering attendees an unparalleled
opportunity to explore the latest trends,
discover unique gemstones, and unveil
unseen designs.
“The Australian Jewellery Fair
promises to be a hub for industry
professionals, buyers, and
enthusiasts alike, providing a
comprehensive platform to kick start
the year with style and substance.”
The Gold Coast will offer retailers and
exhibitors food and beverages, with
free meals and drinks sponsored by
AV Diamonds.
There will also be a chance to
network with colleagues at a Sunday
night drinks.
“It will be great to be back in
Queensland,” Fitz-Roy said, adding,
“As one of the most anticipated trade
shows of the year, the Australian
Jewellery Fair on the Gold Coast
will showcase the creativity and
innovation of Australia’s leading
suppliers, featuring tens of
thousands of designs and one of the
biggest events to start the year.
“And it’s a sell-out!”
Not everything takes on a serious
nature. In fitting with the holiday
destination, fair visitors can try their
hand at putt-putt golf sponsored by
Gerrim. Players have the chance to
win prizes.
“We have even created a sun deck
with chairs and banana lounges to
make you feel totally chilled”, Fitz-
Roy said.
The event will host several new
suppliers and is timed to coincide
with the Mother’s Day buying period.
“It’s an important timing for retailers
because Mother’s Day is just a month
or so after the AJF, which is an ideal
opportunity for retailers to top-up
stock and ensure they maximise the
next retail promotion in a one-stopone-shop
event.”
Fitz-Roy explained that one of the
primary reasons the Gold Coast was
chosen was because retailers can
combine some serious business with
some serious fun.
“Some retailers have told me they
need a short holiday, and with
airfares back to reasonable costs,
it’s quite good value to fly up to
Coolangatta for the show and stay a
few days longer at Surfer's Paradise
for a well-earned break.
“I checked airfares, and you can fly
from Sydney to the Gold Coast for
under $100."
The AJF comes after a successful
Melbourne Jewellery Expo. Following
the industry gathering on the Gold
Coast, attention will turn to the
International Jewellery Fair scheduled
for 17-19 August in Sydney.
For further information, visit
jewelleryfair.com.au.

News
February: Latest sales analysis reveals important insights for Australian jewellers
The latest sales analysis of Australia’s
independent jewellery stores has revealed a
further realignment with figures from before
the COVID-19 pandemic.
The data was compiled from more than 400
independent stores in Australia and published
by Retail Edge Consultants, detailing a 4.3 per
cent decline in overall sales dollar performance
on a year-on-year comparison.
Comparative unit sales declined by 4.7 per cent
compared with February 2023. The comparative
average sale (inventory only) was effectively
flat, at $228 compared with $227 the year prior.
Retail Edge general manager Leon van Megen
said the latest results indicated that sales are
returning to a degree of ‘normalcy’ following
the impact of the global pandemic.
“When we measure against any month in 2022
and the early part of 2023, we are comparing
to what appears to have been the ‘COVID-19
bubble’,” he told Jeweller.
“As we work our way into more directly
comparable periods, we expect to see sales to
come broadly in line with the last ‘non-COVID’
time period."
He continued: "And that is what we see
this month: a gap in sales that has reduced
compared with prior years.”
Diamond-set jewellery declined by 10 per cent
on a year-on-year comparison, with van Megen
suggesting that this is an established trend and
that managing stock is vital.
Gemstone-set metal jewellery decreased by 7
per cent compared with 2023 and 14 per cent
compared with 2022.
Silver and alternative metal jewellery
decreased by 4.7 per cent, while jewellery
without a gemstone or diamond decreased by
7 per cent.
Van Megen added: “To avoid a cashflow
squeeze, manage your aged stock aggressively,
and buy well.”
Laybys decreased by 9.6 per cent in dollar
terms between new orders and pickups and
cancellations.
Services decreased by 32.1 per cent, while
special orders increased by 1.8 per cent.
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News
Unintended consequences: Diamond sanctions questioned
The world’s largest diamond mining company – the
De Beers Group – has expressed concern over
incoming economic sanctions against the Russian
diamond industry.
In December, the G7 nations - the US, the UK,
Canada, France, Germany, Italy, and Japan –
announced the introduction of a multi-stage
sanction process as punitive action against Russia
for the invasion of Ukraine.
The G7 detailed plans for a ‘diamond tracing’
system, which is expected to be introduced in
September. The specifics of the system are
unknown, with media reports suggesting that
Belgium may operate as a central hub for diamond
certification.
CEO Al Cook has urged the G7 to consider the
unintended consequences of such a system. Of
particular interest is the impact such a system may
have on the price of diamonds sourced from Africa.
"Effectively (African producers) would be forced to
send all their diamonds in one direction rather than
choosing. Ethical African diamonds would become
much more expensive," Cook told Reuters.
De Beers has recommended that the G7 coordinate
with Botswana, Namibia, South Africa, Angola, and
India to ensure that this certification system meets
the needs of critical contributors to international
trade.
"We understand and support the need for G7
sanctions on diamonds," Cook added.
"What's really important to us is that any sanctions
that are put in place achieve their desired effect
without creating terrible side effects.”
De Beers uses the blockchain program Tracr
to track its production. The company recently
published its first sales report of the year, outlining
increasing sales.
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Culture shift: British Museum displays stolen treasures
In an attempt to move on from recent controversy,
the British Museum is displaying ten recovered
items – including gemstones – that were stolen as
part of a long-running theft.
In August, the British Museum announced that
around 2,000 objects had been stolen, damaged,
or missing from its storerooms in one of the most
shocking stories of the year.
Around 350 items have been recovered to date, and
in a new exhibition dedicated to Ancient Roman and
Greek culture, 10 of these items will be on display.
The new exhibition will showcase a further 500
objects that were not involved in the crime, with
previously stolen items in their own display case
and labelled.
Chair of the museum’s Board of Trustees, George
Osborne, told the BBC that the exhibition was an
example of ‘cultural change’ within the institution.
"We promised we'd show the world the gems that
were stolen and recovered - rather than hide them
away," he said.
It’s believed that the thefts took place over 20 years
and that the museum was alerted to the alleged
sale of stolen items in 2021 but failed to take action.
The museum was repeatedly alerted to the theft
by dealer and collector Ittai Gradel. Gradel said he
has been pleased with the recent efforts to recover
from the controversy.
"I am greatly pleased also to see that the whole
culture of the institution appears to be changing
to one of much greater openness and willingness
to confront problems than what I encountered in
2021," he said.
Following the controversy, director Hartwig Fischer
resigned, and former Victoria and Albert Museum
director Sir Mark Jones was appointed in the
interim.
The police investigation into the thefts is ongoing.
Located in London, the British Museum is more
than 260 years old.
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News
EST. 1981
GREAT WATCHES DESERVE
A GREAT WATCH BATTERY
Lab-created diamonds: Popular with young consumers
According to recent media reports, lab-created
diamonds are increasingly popular with consumers
in New Zealand; however, the future of the category
remains uncertain.
Based in Auckland, Four Words co-owner Shivana
Pemberton said she’s noticed a notable increase
in customers' awareness and popularity of labcreated
diamonds.
"A two-carat solitaire diamond engagement ring,
if you were wanting to go natural you are probably
looking at $NZ24,000 to $NZ26,000. For the labgrown
diamond equivalent, you would be looking at
around $NZ8000," she told Newshub.
"Most of our competitors now offer lab-grown
diamonds, even some competitors that we didn't
think ever would."
This report comes after a story published by the
Associated Press, which questioned statements
made by lab-created diamond producers amid
concerns about greenwashing.
Owner of The Diamond Shop, Sera Cruickshank,
said that lab-created diamond jewellery accounts
for around 90 per cent of sales, despite the
Auckland store also offering natural diamonds.
"It's having a really big impact on natural diamonds.
In 2023 alone, they took an absolute dive of just over
20 per cent; it's almost unheard of," she said.
"Lab-grown diamonds really have changed the
industry and made it really difficult for natural
diamonds to compete."
What does the future hold?
Despite the apparent popularity of lab-created
diamonds among young consumers, industry
analyst Paul Zimnisky told Business Insider that he
expects jewellery retailers to return their focus to
natural diamonds this year.
"It's a manufactured version of one of humans'
most valuable natural resources. It allows
consumers to buy a diamond at really affordable
prices, especially very large diamonds that would
cost tens or hundreds of thousands of dollars if
they were natural diamonds,” he explained.
“I think people kind of just bought it, and they
thought, 'you're the only one with a three-carat
diamond. But if you go to a wedding these days,
you're just looking at people's engagement rings;
there's a lot of three-, four-, five-carat diamonds,
and it's become ubiquitous.”
Zimnisky also drew attention to recent high-profile
endorsements of lab-created diamonds – which
include Michael Hill International, Pandora and
Prada – and suggested that the popularity of the
stones may prove to be their downfall.
"Some of the fad is starting to fade a bit. I think it's
become a lot more mainstream," he added.
“I think now you might actually start to see the
opposite happen, where people are like, I just want
a smaller natural diamond."
As part of Jeweller’s 2024 State of the Industry
Report, more than 200 retailers were surveyed
about the importance of lab-created diamonds to
their business.
The responses were almost perfectly divided.
Around 40 per cent of respondents either ‘strongly
agreed’ or ‘agreed’ that lab-created diamond
jewellery has become a significant part of their
business over the past decade.
A greater number (42 per cent) stated that labcreated
diamond jewellery was not essential to
their business.
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March 2024 | 27

10 Years Ago
Time Machine: March 2014
A snapshot of the industry events making headlines this time 10 years ago in Jeweller.
Historic Headlines
Pandora jewellery seeks new chairman
Game of Thrones jewellery range announced
Consumer interest grows for smartwatches,
smart jewellery
Aussie jewellery suppliers announce merger
Gold jewellery demand highest in 16 years
Google confirms entry into
watch market
Google has confirmed its entry into the
watch market with the first preview of a new
smartwatch and its wearable technology
while Fossil Group will be one of the first
developers.
Google is currently in the process of
developing Android Wear, an extension of
the Android operating system into wearable
technology, and has been quick to partner with
leading fashion watchmaker Fossil Group as
well as Motorola and LG.
According to Google’s blog, its first Android
Wear offering will be in the form of watches
because they are “the most familiar
wearable”.
Smartwatches powered by Android Wear will
provide information and notifications from a
wide variety of Android applications.
$36 million Fabergé egg found
at flea market
A man planning to melt a gold ornament
purchased at a flea market was shocked to
discover it was actually a Fabergé egg valued at
$36 million.
According to media reports, the scrap metal
dealer, who wished to remain anonymous,
purchased the egg at a market in the United
States for about US$14,000 (AU$15,500).
Having been unsuccessful in finding a buyer for
the egg’s gold, the dealer reportedly turned to
the internet and was stunned after a keyword
search revealed he might be in possession of
a precious historical artwork. When the man
approached London-based antique dealer
Wartski, the dealer not only confirmed that the
piece was a genuine Peter Carl Fabergé egg, but
that it was one of eight Imperial Easter Eggs that
had been lost.
March 2014
ON THE COVER ICE WATCH
Editor’s Desk
More changes needed at jeweller's association
“The past two to three years have not been
a positive period for the peak industry body.
In fact, I would go as far as saying it’s been
an inglorious period.
At a time when the Australian jewellery
industry should be united, it has been
anything but united.
The disunity reached a peak in May 2012
when the JAA was seen to turn on its own
members.”
Soapbox
Get behind Australian manufacturing
“At my peak, I had 24 people on the
manufacturing site and another 50
contractors also getting work. The
industry was supporting each other and
we were all making money.
Now, everyone is struggling. I am down
to three people in manufacturing and
my colleagues are either in similar
positions or have closed completely and
are now working in other industries.
Retailers aren’t doing much better
either. Profits are down and the local
industry has been in decline for almost
two decades!”
Aram Atakliyan, Australian Designer Jewellery
STILL RELEVANT 10 YEARS ON
“In any sale, the customer or
prospect makes a predictable
series of buying decisions that lead
to a final purchasing decision.
The first and perhaps most
important of these is whether or
not the customer “buys” what the
salesperson is saying.”
Positive outcome for jewellery fair
The first Australian jewellery fair for 2014
drew to a close yesterday, with those in
attendance reporting overall positive results
and support for the many changes that were
introduced to the event.
An obvious change for the two-day show was the
relocation from Brisbane to the Gold Coast - a
decision that was embraced by all the exhibitors
interviewed by Jeweller.
Costas Karabouloukis, director of The Amber
Centre, said that the supplier gained a number of
new accounts from retailers that were located in
Sydney in Melbourne.
“The fact that these customers weren’t from
Queensland is proof that people are definitely
travelling interstate to attend the show. I think a
lot of people are using the fair as an opportunity
to combine business with pleasure,” he
explained.
Aussie jewellery suppliers
announce merger
Two local suppliers specialising in jewellery
tools and equipment will merge their
business operations to form one company.
Both Australian Jewellers Supplies (AJS)
and House of Jewellery (HOJ) will now trade
under the business name Australian Jewellers
Supplies, effective from Tuesday 1 April 2014.
Current HOJ managing director Selwyn Brandt
confirmed the arrangement, adding that the
company’s head office would be located in
Brisbane, with additional branches in all capital
cities. The current AJS and HOJ showrooms in
Sydney will be combined into one outlet.
READ ALL HEADLINES IN FULL ON
JEWELLERMAGAZINE.COM
28 | March 2024

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March 2024 | 29

Behind every gemstone,
there is a fascinating story
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around the world. Studying
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Passionately educating the industry, gem enthusiasts
and consumers about gemstones

REVIEW
Gems
Gemmologists who changed the game:
Serving an industry amid constantly evolution
Over the past six issues of Jeweller magazine,
we’ve taken a closer look at the many
gemmologists who have transformed the
industry over the years.
In this issue, we will take a temporary break
from biographical reflections on influential
individuals and instead focus on the changing
nature of the field.
Gemmologists are, in many ways, the ‘unsung
heroes’ in the world of gemstones and jewellery.
They are pivotal in an industry built on beauty,
rarity, and value.
Contrary to popular belief, gemmology is not
a recent development. Of course, gemstones
in various forms have been used by humans
as adornment and for displays of wealth since
the beginnings of civilisation. The roots of
gemmology as a scientific field can be traced, at
a minimum, to the 1800s.
Serious formal education in the science of
gemmology was documented in the early 20th
century when the first courses in gemmology
emerged through organisations such as the
Gemmological Association of Great Britain,
founded in 1908, followed by the Gemmological
Institute of America, founded in 1931.
Since then, gemmological training institutions,
including the Gemmological Association of
Australia (GAA), founded in 1945, have increased
worldwide, creating new generations of experts
who serve as the industry’s backbone.
Some of Australia’s leading gemmologists
include Bill Sechos, Terry Coldham, Grant Hamid,
Kym Hughes, Jan Vlanzy, Grant Pearson, Garry
Holloway and Francine Payette.
These scientists are building on the legacy of the
founders of GAA – including Jack Taylor, Arthur
Wirth, Sandy Tombs, and more recently, Geoff
Tombs, Grahame Brown, Patricia Callaway, Pat
Reis, Corinne Sutherland, Bob Bubeck, Suzette
Fairley, and Des Bumstead.
New challenges
In the past, the duties of gemmologists revolved
around basic gemstone identification and
distinguishing natural gemstones from their
synthetic counterparts. However, as the industry
evolved, so did the role of the gemmologist.
Today, they face increasingly complex challenges,
Influential Australian gemmologists: Corinne Sutherland, Geoff Tombs and Grant Hamid in 1980.
from identifying newly treated gemstones to
determining the quality of precious stones such
as diamonds, rubies, sapphires, and emeralds.
To determine the value of gemstones, one must
complete a valuation course available in Australia
by the National Council of Jewellery Valuers.
With questions ranging from the authenticity of
diamonds to the stability of treated gemstones,
the expertise of trained gemmologists has
become indispensable to the jewellery industry.
Increasingly, low-grade gemstones are being
treated in various ways to increase their
preserved value for sale. New treatments need to
be detected and identified.
Organisations such as the GAA have been
instrumental in providing comprehensive training
programs, including diplomas in gemmology
and practical diamond grading, ensuring that
professionals are equipped to navigate the
complexities of the trade. These complexities can
vary from quench fluxed filled lab-created rubies
to B” jade, which refers to jadeite bleached with
acid and then impregnated with polymer resin.
Gemmology is a multifaceted science
encompassing the study of various gemstones,
ornamental materials, biological materials, and
lab-created (synthetic) substitutes and imitations.
As technology advances, both in terms of the
increasing array of imitations, synthetics,
and treatments entering the market and the
instruments needed to identify and describe
these advances, so do the challenges faced by
gemmologists. The importance of gemmological
education cannot be overstated in an industry
where confidence and knowledge are paramount.
Gemmologists trained by reputable institutions
such as the GAA possess the technical skills
needed to identify gemstones and understand
their work’s ethical and legal implications.
In summary, gemmologists play a vital role in
preserving the integrity and authenticity of the
gemstone and jewellery industry. Their expertise,
honed through rigorous training and practical
experience, ensures that with confidence,
jewellers can sell, and consumers can purchase
– secure in the knowledge that these precious
treasures are in safe hands.
Kathryn Wyatt BSc FGAA Dip DT, is a qualified
gemmologist, diamond technologist, registered
jewellery valuer, educator and member of the
Australian Antique & Art Dealers Association. For
more information on gems and gemmology, go to
www.gem.org.au
March 2024 | 31

ADDENDUM TO THE
2024 STATE OF THE INDUSTRY REPORT
Going it alone:
Why is Queensland different?
Over the past decade, Queensland's number of jewellery stores has
decreased dramatically more than any other state. Why?
43%
Decline in independent
jewellery stores in
Queensland between
2010 and 2023.
Queensland is the only
state in Australia where
the majority of the
population does not live
in the capital city.
KEY FINDINGS: AT A GLANCE
Queensland has more
chain stores and buying
group members than
Victoria, despite the
difference in population.
329
Independent jewellery
stores in Queensland
as of 2023.
Q ueensland and Queenslanders are different.
Just ask them!
They will list many reasons why and quickly remind
you that Queensland is ‘beautiful one day and perfect
the next’.
While that iconic Queensland government tourist
slogan may well be accurate, many of the reasons
given as to why the northern state is different are
less clear.
Said another way, the examples that Queenslanders
will likely give about their state being different to the
remainder of Australia may be accurate; however, it’s
not the entire picture.
This is particularly true when it comes to the jewellery
industry. Indeed, Australia’s second-largest state offers
a far more complex economy than any other.
This partly explains why, since 2010, the number of
retail jewellery stores – chains and independents -
declined from 919 to 680.
This 26 per cent drop was the largest among all
states, with NSW, Victoria and WA declining by
around 14 per cent. Regarding independent jewellery
retailers specifically, the figures are more alarming.
The 2024 State of the Industry Report (SOIR) found
that Queensland’s ‘mum-and-dad’ independent
retailers declined by 43 per cent (from 577 to 329).
This was more than twice the figure for NSW (19
per cent) and Victoria (21 per cent). The decline of
independent stores in WA (23 per cent) and SA (25
per cent) aligned with trends in NSW and Victoria.
So what precipitated the much larger fall in the
Sunshine State?
Queensland’s befuddling retail landscape
When questioning why Queensland’s retail sector
does not conform to these trends witnessed in other
states, it’s important to consider additional data
uncovered by the SOIR.
For example, given that independent jewellery stores
experienced a sharp decline from 2010 to 2023, what
happened to fine and fashion chain stores?
Over the past 13 years, NSW and Victoria each
‘lost’ 11 per cent of their chain stores.Meanwhile,
Queensland’s chain store count remained consistent.
Declining from 316 in 2010 to 309 in 2023, this two
per cent drop over the period was negligible.
Indeed, it’s fascinating that Queensland has more
jewellery chain stores (309) than Victoria (272)
despite the difference in population. If you need
further proof that Queenslanders seem to have more
affinity with chain store products and shopping, then
consider the fashion jewellery category.
Despite the considerable difference in population
compared with NSW (2.9 million more people) and
Victoria (1.4 million more people), Queensland more
than holds its own regarding fashion jewellery stores.
Queensland has the same number of fashion
jewellery stores as Victoria (71), while NSW (73) has
just two more stores.
On the surface, Australia’s two largest fashion
jewellery chains – Lovisa and Colette – appear to
have a similar strategy regarding stores in Victoria
and Queensland. Coincidentally, both chains have the
same number of locations in Queensland as they do
in Victoria despite the difference in population.
The SOIR recorded 43 Lovisa stores in Queensland
and 43 in Victoria, while Colette had 16 locations in
Queensland and, like Lovisa, the same number in
Victoria (16). As they say in the movies: “Now, here’s
the thing!”
Consistent with population statistics, NSW has
more buying group members (200) and buying group
stores (225) than Queensland (109 and 132). That
said, once again, the Sunshine State’s figures exceed
Victoria’s, with only 106 members and 131 stores.
It’s important to remember that these results follow
a 43 per cent decline in the number of ‘mum-anddad’
independent jewellery stores since 2010!
With that said, this is not a new trend. Jeweller’s
2016, 2018, and 2020 Buying Group Reports indicated
that more Queensland retailers were members of
one of the three buying groups compared to Victoria.
The plot thickens further when considering brandonly
stores. Given that fine and fashion jewellery
chains have a strong presence in Queensland,
it’s fair to assume that a similar trend would be
reflected in brand-only stores, right?
Wrong! In another baffling contradiction, the number
of brand-only stores in Queensland is only about half
that of NSW and Victoria.
Between 2010 and 2022, Queensland’s population
increased from 4.49 million to 5.41 million, meaning
around 20 per cent of the country’s population calls
the state home.
With that said, we find conflicting information across
each sector of the industry.
Queensland hosts just 16 per cent of all independent
jewellery stores, 24 per cent of fine jewellery stores,
and 27 per cent of fashion jewellery retailers.
Why is this happening?
It’s clear that Queensland is running its own race
when it comes to the jewellery industry, and it’s
expected that similar results will be found in other
retail categories such as fashion, white goods, and
so on. The question is - why?
For starters, Queensland is the only state in
Australia where most of the population does not live
in the capital city. This detail often guides the retail
landscape in other states.
Local and international tourism are vital to
Queensland’s economy. Comparing statistics
across the states is challenging; however, more
international tourists land in Sydney than Brisbane.
However, that can be deceptive because many
international tourists visit Queensland from Sydney,
usually because flights from their home country to
Sydney are their only option.
Queensland has seven international-level airports -
stretching from Coolangatta on the Gold Coast right
up the eastern seaboard to Cairns - compared to
NSW’s three city airports.
32 | March 2024

CHART 1: BUYING GROUP MEMBERSHIP - STATE-BY-STATE
250
2024 STATE OF THE INDUSTRY REPORT
WHAT HAPPENED IN QUEENSLAND?
200
150
100
50
0
232
NSW
143
VIC
152
QLD
50
WA
60
23
12
6
223
130
133
46
55
21
9
5
206
112
116
35
43
20
10
7
200
106
109
34
SA
TAS
ACT
NT
NSW
VIC
QLD
WA
SA
TAS
ACT
NT
NSW
VIC
QLD
WA
SA
TAS
ACT
NT
NSW
VIC
QLD
WA
2016 2018 2020 2023
45
SA
17
TAS
8
ACT
4
NT
Chart 1 shows a stateby-state
comparison of
buying group membership
between 2016 and
2023. It's interesting
to note that despite
Victoria (6.7 million)
having a significantly
larger population than
Queensland (5.4 million),
and indeed, more
independent jewellery
stores. It would seem that
Queensland's 'mum-anddad'
jewellery retailers
are more inclined to join a
buying group.
For comparison, Victoria has two international airports
– Tullamarine and Avalon – but arguably, they are both
in the state’s capital city – Melbourne.
With more international standard airports than
any other state, it’s evident that tourism is vital to
Queensland’s economy. The need for seven airports
also reflects the often understated size of the state.
With an area of 1,727,000 square kilometres, it’s more
than twice as big as the US state of Texas and seven
times the size of Great Britain!
Queensland is the second-largest state in Australia
after WA. For reference, WA only has three
international airports.
The salient point is that based on the size of
Queensland and the number of regional cities
and towns, more retail opportunities are found
in this style of population distribution.
For example, ten of the 30 largest urban areas by
population in Australia are found in Queensland,
compared with just seven in Victoria and six in New
South Wales.
When a state's population is concentrated in its
capital city, the expansion of chain stores is restricted,
mainly due to competitive risks and the threat of sales
cannibalisation.
This is less of an issue in Queensland, and thus,
chain stores have maintained a firm and stable
grasp on the market while independent jewellery
stores have declined.
The COVID-19 Sledgehammer
It’s worth considering why focusing on the number
of airports is essential to understanding the decline
of small Queensland jewellery stores.
Tourism is a crucial cog in Queensland’s economy,
and that tap was turned off during the pandemic.
According to research by Business Queensland,
more than 27 million domestic and international
overnight visitors came to Queensland in the year
ending March 2023.
Tourism is a $22 billion industry in Queensland,
with domestic and international visitors spending
$90.1 million daily. The tourism industry directly and
indirectly employs 206,000 people in Queensland. This
equates to roughly one in 15 people.
For jewellery and gemstones specific to the
Queensland region, such as the opal and sapphire
industries, tourist spending is vital – and the closure
of international and interstate travel during the
pandemic was a crushing blow.
One example is Opal Gallery, located on Cavill Avenue
on the Gold Coast. Managing director Hide Kojima
documented the challenges faced by his business
during the pandemic.
“Our storefront was located at 45 Cavill Avenue,
Surfers Paradise Queensland, a location very popular
for international tourists. We’ve been there for many
years now, so I considered that my second home,”
writes Kojima.
“This meant that we’d been targeting our products and
advertisements for these tourists for as long as I could
remember. Many of our tourists came from places like
China, Japan, and India, and we had many interstate
tourists each day as well.
He continues: “In March 2020, when the coronavirus
became a real threat to Australia, our business
immediately felt the impacts of it. Few people were
visiting Cavill Avenue, and it soon became a ghost
town. Honestly, we all felt a little lost.”
The impact of COVID-19 on Queensland’s coastal
tourist cities was devastating. From the Gold Coast
and Sunshine Coast in the south to Cairns and Port
Douglas in the north to Airlie Beach, Townsville and
Mackay, significant income disappeared overnight.
For those already considering closure before the
pandemic - whether because of weak sales or
retirement plans - the prospect of an indefinite
period without tourism spending was likely a strong
motivation for change.
It’s important to remember that while many of
Queensland’s jewellery stores may not directly depend
on tourism spending, chances are that many of the loyal
customers of these stores rely on tourism for income.
As a flow-on effect, reduced discretionary
spending from customers dependent on tourism
for employment was another crushing blow for
jewellery stores.
Showcase Jewellers has 31 members in Queensland,
representing 47 stores. Managing director Anthony
Enriquez said that he was surprised the decline
of independents was as dramatic as the figures
demonstrate.
He also said it’s understood that the sudden
evaporation of tourism spending was a devastating
blow for many jewellery retailers.
“The decline in store numbers being larger for
Queensland is a little surprising, as Showcase did not
have a significantly higher number of member stores
closing in Queensland over that period compared with
other states,” he explains.
“In many of those cases, the reason for closure was
mainly the retirement of owners, which is generally
happening across the industry. With that said, the
impact of COVID-19 - particularly the border closures
and lockdowns - limited tourist spending dramatically.
“Visitor numbers, particularly from overseas, were
slow to return, which could have had a greater impact
in Queensland [compared with other states].”
In that regard, it’s not surprising that in a 2020 survey
conducted by the National Retail Association, 95 per
cent of business owners surveyed reported that they
either ‘strongly agree’ or ‘agree’ that “it is very difficult
to ensure financial stability right now.”
One-two punch
While it’s widely understood that the impact of the
global pandemic had on international tourism, it is not
well recognised that Queensland tourism suffered an
earlier blow.
The Chinese government began punishing Australia
over a diplomatic dispute that included imposing a $20
billion trade ban.
China also banned group tours to Australia, and it
has previously been reported that 1.4 million Chinese
tourists spent $2.1 billion in Australia in 2019, $581
million spent by participants of China’s Approved
Destination Status (ADS) or tour group scheme.
Although this ban was eventually lifted, Chinese
tourists visiting Australia are still at just a fraction
of pre-pandemic levels even though the borders
reopened in January.
Tammy Keers is an independent jeweller who was
not surprised to learn about Queensland's decline in
jewellery retailers. She connected the phenomenon
with several key developments in recent years.
The owner of Artisan Bespoke Jewellers in Brisbane
says, “There were many jewellers and suppliers
that we knew and heard of doing it tough before
COVID, so when the opportunity came to renew their
leases, I think they took it as their queue to exit.
“The shift in consumer preferences since 2010 has
increased demand for custom and bespoke designs.
Handmade custom jewellery has been a part of our
story since we opened our doors in 2006, so we
are not new to this style of manufacturing.
“Unfortunately for jewellers who did not have a
strong hand-making and design background
meant that they would have been unable to
compete with those who could.”
These insights were reflected in Jeweller’s
survey of more than 200 retailers on the
industry's pressing issues.
Retailers were asked: Custom-made jewellery has
increasingly become an important part of my business
in the 5-10 years.
More than 77 per cent of retailers stated that they either
‘strongly agreed’ or ‘agreed’ with that statement.
Keers also noted the significance of retirement,
suggesting that many businesses closed their
doors for the final time due to a lack of succession
opportunities.
March 2024 | 33

2024 STATE OF THE INDUSTRY REPORT
WHAT HAPPENED IN QUEENSLAND?
TABLE 1: 2023 POPULATION COMPARISON
Why is Queensland different? NSW VIC QLD WA SA TAS ACT NT TOTAL
State Population 8,293,965 6,766,559 5,418,453 2,855,594 1,844,616 572,660 464,601 251,700 26,468,148
Percentage of National 31.34% 25.56% 20.47% 10.79% 6.97% 2.16% 1.76% 0.95% 100.00%
State Size (km²) 800,150 227,416 1,729,742 2,527,013 984,321 64,519 2,358 1,347,791 7,683,310
Population density 10.24 28.47 2.93 1.08 1.77 6.31 6.04 0.18 57.02
International Airports by State 3 2* 7 3 1 1 1 1 17
All Independent stores 754 499 329 187 136 61 30 14 2,010
Chain stores - Fine jewellery 297 201 238 137 62 16 24 12 987
Chain stores - Fashion jewellery 73 71 71 25 15 2 6 2 265
Brand-Only stores 89 74 42 22 8 - 3 1 239
Total stores 2023 1,213 845 680 371 221 79 63 29 3,501
Total stores 2010 1,417 984 919 432 277 85 72 39 4,225
Decline - 2010 V 2023 -204 -139 -239 -61 -56 -6 -9 -10 -724
% Decline - All stores -14.40% -14.13% -26.01% -14.12% -20.22% -7.06% -12.50% -25.64% -
% Decline Independent stores only 19.19% 21.29% 42.98% 22.73% 24.86% 6.15% 26.83% 46.15% -
This table is a comprehensive
analysis that demonstrates
the many ways that
Queensland differs from all
other states when it comes to
the jewellery industry. Over
the past decade, independent
jewellery retailers in
Queensland have declined
at a greater rate (43 per
cent) than in all other states.
What's not well recognised
is that Queensland has more
fine jewellery chain stores
than Victoria, and an equal
number of fashion jewellery
chain stores, despite the
significant population
difference between the two
states.
* Victoria has two international airports; however, they are both in Melbourne. Queensland, because of its size and population spread, has international-level airports in seven different cities.
“Since 2010, family-owned jewellery businesses
have also had to close their doors due to the next
generation choosing not to take on the business or
due to retirement,” she explained.
Coincidentally, this was also highlighted by Jeweller’s
retailers survey. Retailers were asked: I intend to
retire or sell my business in the next five years.
A startling 38 per cent of respondents indicated that
they ‘strongly agreed’ or ‘agreed’ with this statement.
Nationwide Jewellers managing director Colin
Pocklington suggests that Queensland’s overall
decline in independent jewellers can be partly
attributed to an ‘exodus’ from shopping centres.
Nationwide has 64 members in Queensland,
accounting for 71 stores.
Pocklington agreed with Keers and connected the
decline to the importance of custom-made and
bespoke jewellery.
“There are very few independents in shopping centres
as it is. There are many reasons why this is the case;
however, a factor you can’t ignore is the extra rent
you pay compared with the customers you attract to
your stores as an independent compared with a chain
store,” he explains.
“I think many jewellers have discovered that it’s not
worth paying for the premium rent of a shopping
centre location because your customers will find
you for custom-made jewellery and repairs at a high
street location all the same.”
Pocklington continues: “I think this decline is also a
continuation of the growing importance of custommade
jewellery as a part of the business.
"Selling finished merchandise, which is more of a
shopping centre practice, has become less important
for independent jewellers.”
Chain store equation
Based in Fortitude Valley in Queensland, Mark Cotterell is
the owner of Mark Cotterell Master Jewellers.
“Social media has allowed greater visibility for
small non-storefront jewellers to be seen and build
business bases whilst many traditional bricks-andmortar
‘family style’ jewellers had limited workshop
facilities and little to no designer elements to their
businesses,” he says.
“Queensland has a strong base of chain jewellers,
34 | March 2024
probably more so than other states. The jewellers that
buy jewellery and have no craftsman on site are the
shops that have been exposed to a much larger extent,
and there aren't a lot of well-trained jewellers left.
“Many of those now work for themselves and are
active on social media.”
Cottrell’s view is backed by the SOIR research that, as
indicated above, Queensland has more fine jewellery
and fashion chain stores than Victoria.
For example, Angus & Coote has more stores in
Queensland (32) than it does in Victoria (20), as does
Goldmark (22 and 8).
Both chains are owned by New Zealand’s James
Pascoe Group, which also owns Prouds, which has 67
stores in Queensland and only 47 in Victoria.
Likewise, Shiels, the 50-store South Australian-based
chain, also favours Queensland over Victoria despite
the latter’s larger population.
There are 16 Shiels stores in Queensland and none
in Victoria, which would suggest that the size of the
state and the fact that most of the population lives
in the many varied cities offers better expansion
opportunities.
The only chain that goes against the trend is Michael Hill
International, which – at the time of the SOIR research –
had 28 Queensland stores compared to 34 in Victoria.
Closing remarks
Despite the challenges of the past few years, the
Queensland economy has continued to expand at an
impressive pace.
Increased retail productivity is expected to coincide
with the ongoing population explosion; however,
independent jewellers seem the ‘odd one out’.
The decline of independent jewellers in Queensland
has occurred for many reasons. COVID-19 encouraged
many businesses considering closure – whether it
was because of weak sales or retirement plans – to
do so.
The challenges of the pandemic also encouraged
many jewellers to consider shutting up shop in favour
of a studio or workshop, with social media serving as
the basis for meeting new customers, as opposed to a
front door on a high street.
Pocklington also points to a shortage of
manufacturing bench jewellers nationwide, with
the shortage most likely worsened in regional
Queensland.
Independent jewellers have also abandoned shopping
centres, partly due to an increased focus on bespoke
and custom-made jewellery.
Customers seeking personalised jewellery will
discover retailers on a high street or on social media
just as easily as they would in a shopping centre,
where mass-produced jewellery is more popular.
With the above factors in mind, it’s important to note
that just because Queensland’s independent jewellery
retailers are declining overall, that does not mean the
industry is ‘unhealthy’ or in trouble.
Logic dictates that if discretionary spending has
remained strong in Queensland, then the jewellery
stores that have remained open should enjoy
improved sales because of the decreased competition.
Said another way, if a more significant percentage of
the industry achieves improved sales, is this not an
argument for a healthy industry?
It’s another reminder that everything is a matter of
perspective, including store closures.
SOIR ADDENDUM EXPLAINED
This article is an addendum to the State of the Industry
Report
published in December 2023. The purpose of the
six-month study into the Australian jewellery industry is
two-fold – it’s a historical document offering an in-depth
examination of the trade from which a glimpse of the future
may be obtained.
As is often the case with studies of this nature, the research
often uncovers unexpected insights. These include significant
changes due to advances in technology, the evolution of
consumer habits and expectations, and the unforeseen
impact of an unprecedented global pandemic.
In some cases, the space allocated to specific sections of the
report was insufficient because of the additional detail and
information obtained. This article is one such case where it
was noted that the decline of independent jewellery retailers
in Queensland far exceeded declines in other states. This was
deemed worthy of further analysis.
There is a host of additional information uncovered during
the SOIR research period, which was also unable to be
included in the initial report due to space and time limitations.
Jeweller
will continue to publish addendums to the SOIR to
analyse and clarify an ever-changing industry.

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What about the energy used to produce them?
March 2024 | 35

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36 | March 2024

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PHIL PRESTON
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Cultivating these diamonds in a
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Indeed, lab-grown diamonds have
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This complexity reveals a nuanced
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This has led to more interest
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This approach helps build trust with
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As sustainability gains momentum,
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March 2024 | 37

production chain we can begin to
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The consumer market is growing
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When it comes to the jewellery sector,
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An impressive 68% of Millennial and
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Embracing sustainable practices
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38 | March 2024
Ultimately, the journey
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jewellery industry to
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it’s good for business. A 2023
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Buyers like Jake Goodwin also
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Jewellers themselves are taking
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are asking about lab-grown
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Ultimately, the journey towards
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Clear Neutral and other initiatives
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What seems clear, though, is that the
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FASHION FEATURE
Adorning Ambitions
When the going gets tough, the tough get going.
SAMUEL ORD discusses the advantages fashion jewellery
products offer retailers in trying economic times.
GUESS
March 2024 | 41

BRONZALLURE
FURLA
T he greatest businesses discover opportunity in
difficult times. Every challenge to the status quo
is a chance to explore new strategies.
The challenges of today are well-documented – times
are tough for consumers, and budgets have been
tightened accordingly.
Australian jewellery retailers are right to be concerned
about these economic conditions.
Jewellery is a luxury purchase – not a necessity – and
luxury products are usually the first on the chopping
block when discretionary spending declines.
Australians are responding to the financial pains
associated with cost-of-living pressures and inflation,
and economic experts have warned that retailers are
likely to suffer.
Shane Oliver, chief economist with financial services
company AMP, told ABC News that more challenging
times lay ahead for retailers.
“It is likely retail sales will remain weak in the months
ahead in response to ongoing cost-of-living pressures,”
he said.
“In fact, the noisy data over the past few months has
partly reflected the growing trend of consumers seeking
out bargains and discounts, which is a sign of weakness
in household consumption.”
The popularity of recent ‘Black Friday’ sales events
has also highlighted the current Australian affinity for
reduced-priced goods.
Many consumers opted to complete their Christmas
shopping in November rather than December to
maximise discounts and promotions.
While these shifts in consumer purchasing patterns
might concern some retailers, for others, it presents
an opportunity to demonstrate the most important value
in business.
That is the ability to be flexible and adaptive to meet new
consumer demands.
42 | March 2024
FA SHION JE WELLERY
Things To
Remember
Emulation
As production capabilities
have improved, the ability of
fashion jewellery to emulate the
characteristics of fine jewellery
has increased significantly.
Evolution
When Pandora entered the
Australian market it was
dismissed by many as 'cheap
fashion jewellery'. Today,
Pandora is the world's largest
mass-market jewellery brand.
Resilience
Times may be tough for many
consumers today; however,
many loyal customers for fashion
jewellery brands are insulated
from economic pressures due
to their age and background,
meaning they continue
purchasing despite cost-ofliving
pressures.
Variety
Fashion jewellery collections
offer independent retailers a
chance to significantly broaden
their stock, encouraging new
customers to visit the store.
Silver bullet
While consumers' budgets may be changing, the demand
for quality jewellery is not.
Whether it be a gift for a loved one or a personal pleasure,
jewellery remains unrivalled in luxury status. Earrings,
bracelets, rings, and necklaces are all embedded with
deep emotional attachments that can be preserved for
generations.
With that said, not every piece of jewellery needs to evolve
into a family heirloom.
The market for affordable and trend-driven jewellery has
rapidly evolved over the past decade, meaning consumers
on tight budgets still have access to designs that can
complete every outfit.
Today, there are countless options for retailers that cater
to the midmarket, offering trendy accessories and
innovative designs that suit all budgets and tastes.
Fashion jewellery collections offer retailers many
significant advantages crucial to succeeding in adverse
economic environments, including quick turnover,
versatility, and affordability.
Indeed, fashion jewellery generally retails below $100
and rarely above $500, making it an appealing option
for consumers with a limited budget.
The crucial advantage of fashion jewellery is the ability to
adapt to constant changes in style and trends.
Consumers, especially those of younger demographics,
are consistently fascinated by the latest and greatest
collections – primarily driven by social media marketing.
By 2030 ‘Generation Z’ and ‘Millennials’ are expected to
account for 48 per cent of retail spending in Australia.
CEMOH’s Simon Dell says that young shoppers aim to be
well-informed and constantly seek the balance between
affordability and quality.
“Social media trends are the name of the game for Gen Z.
Product novelty matters to them more than brand names.
Many businesses market their products through social
media influencers,” he explains.

THOMAS SABO
PANDORA
“As jewellery retailers, it’s crucial to understand
the products young Australians are buying and the
characteristics and designs that appeal to their mindset
the most.”
This constant evolution of products gives retailers an
opportunity to refresh their merchandising and marketing
both in-store and online regularly.
Stores that regularly refresh their merchandising may also
develop a reputation among local consumers for being in
touch with the latest trends.
Stores with this reputation can keep customers curious
about the latest releases and, by doing so, encourage
consumer loyalty and repeat sales.
There’s the opportunity for more frequent sales, rather
than being limited to key anniversaries and holidays to
secure traditional annual purchases.
Success stories
Retailers and consumers were once forced to decide
between fine and fashion jewellery, and hard-working
artisans and passionate devotees scorned any comparison.
With that said, it’s always been challengingto define the
difference between fashion and fine jewellery clearly. The
industry broadly defines fashion jewellery as made from
base metals such as copper, brass, leather, or plastic.
This includes ‘simulated gemstones’ made from glass,
crystal and plastic. Gold-plated and silver-plated base
metal products are also considered fashion jewellery.
The difference between the two categories has become even
more nuanced in recent years as design and production
technology has improved the quality of products.
As manufacturing and design capabilities have improved
over the years, fashion jewellery began to embody an
increasing number of traits and characteristics once
exclusively attributed to fine jewellery.
Indeed, it’s even become harder to tell the difference
between stores that offer fine or fashion jewellery.
The most notable success story when it comes to this
strategy is Pandora. Fewer than 20 years ago, a once
FA SHION JE WELLERY
Advantages
Adaptable
Fashion jewelley collections are
able to keep up to date with the
latest trends and styles due to
short production cycles.
New Customers
With the addition of fashion
jewellery products, independent
retailers may encourage new,
previously unfamiliar customers
to visit their store.
Loyalty
Many fashion jewellery
collections have a 'collectability'
aspect, encouraging repeat
purchases and generating loyal
customers for a brand and store.
Big Picture
Fashion jewellery is primarily
purchased by young, female
consumers. While these
consumers may not be in
the market for fine jewellery
today, in the future they will
be. Securing a relationship
with these customers via
fashion jewellery collections is
important.
largely unknown Danish brand appeared in Australia.
Early attempts at distributing the brand fell flat because,
at the time, Pandora was considered ‘cheap fashion
jewellery’ manufactured in Asia.
Pandora’s partnership with a vast network of independent
fine jewellery stores in fewer than five years led to a brand
revolution in Australia and internationally.
During that time and beyond, Pandora’s products slowly
began to include silver and gold pieces and, eventually,
lab-created diamonds.
As a result, Pandora has expanded to more than 7,800
points of sale, including more than 2,400 concept stores,
is the world’s largest mass-market jewellery brand.
Emulating fine jewellery at an affordable price has been
pivotal in the expansion.
Pandora recently reported an other quarter of increasing
sales. Before the announcement, chief financial officer
Anders Boyer said the focus remains on appearance sat
high-profile fashion events to drive the brand's relevance.
“We’ve raised the game starting a year back, putting more
money behind not just driving awareness of the brand, but
driving desirability as well,” Boyer said.
“We are participating in those kinds of events in order
to show that even though we are an accessible luxury
brand from a price perspective, we also know what’s on
trend, and we can be part of creating what’s on trend as a
company.”
Case study
Still not convinced that fashion jewellery collections may
offer something valuable to your store? Consider another
Australian success story – Lovisa.
Indeed, Lovisa is at the lowest end of the fashion jewellery
category - and the types of products the chain offers its
customers do not belong in fine jewellery stores.
The standard, quality, and style of the jewellery differs
entirely from fine jewellery collections; however, the point
to be made is that there are many different categories and
markets within the jewellery industry in which retailers
March 2024 | 43

ROSEFIELD
may find success.
Independent retailers have to target a specific
market, and that market can be widened - if
need be - by expanding the demographics of
visitors to any given store.
The company was launched in Sydney in 2010
to "fill the void for high quality, fashion-forward,
and directional jewellery.”
From humble beginnings as the ‘little sister’
of Diva, Lovisa has blossomed into the leading
fashion chain in Australia and a dominant figure
in the wider jewellery industry.
In the 2024 State of the Industry Report, Lovisa
was documented as having 175 stores in
Australia, with a strong presence in Victoria
(47 stores), New South Wales (43 stores) and
Queensland (43 stores).
This is a particularly
impressive expansion
given that Jeweller had
compiled chain store
data as recently as
2020.
Lovisa had 140 stores
before the pandemic,
meaning that despite
the challenges of
lockdowns and forced
store closures, the
company could still
aggressively expand
– further
evidence
of the
durability of fashion jewellery during difficult
economic times.
Lovisa recently reported an 18.2 per cent
increase in sales in the first half of the financial
year, reaching $373 million.
The company opened 74 new stores during the
six-month period and now operates in more
than 40 countries worldwide.
It must be said that the reasons behind Lovisa’s
success go beyond product.
Stores are in high-traffic locations such as
shopping centres, and vertical integration ensures
speed to market and frequent inventory turnover.
With that said, much of the company’s
advantage in a very competitive market comes
from product innovation.
With a short production cycle, Lovisa can drive
consumer engagement by taking trends straight
from the latest fashion shows and making them
available for mass consumption as quickly as
possible at affordable prices.
Lovisa’s business strategy underpins the value
of fashion jewellery – the company can offer
a broad range of products capable of rapidly
adjusting to involving trends and preferences at
an affordable price.
As mentioned, products similar to what is offered
by Lovisa do not belong in fine jewellery stores.
However, there are still valuable lessons to
be learned from the company's success for
independent retailers about the viability of
affordable, on-trend products and the value of
forging a connection with young consumers.
Additional benefits
Chains and independent jewellery stores are
different businesses; however, for independent
retailers there are lessons to be learned based
on the successes of Pandora and Lovisa.
While products from Lovisa and Pandora
certainly don’t appeal to everyone, the rapid
expansion and strength of sales for both
chains – particularly during the pandemic -
demonstrate the appeal of fashion jewellery.
While independent jewellery retailers cannot
replicate the impact of vertical integration,
they can capitalise on the adaptability and
consistently ‘on-trend’ nature of fashion
jewellery.
It’s also worth noting that Lovisa and Pandora
have withstood recent economic downturns
better than many other companies because of
the low-cost niche nature of fashion jewellery.
As a final point of consideration, it’s also worth
noting that fashion jewellery offers retailers
access to a new target demographic of resilient
consumers.
Fashion jewellery sales are dominated by
younger, primarily female, consumers.
While these consumers cannot make large fine
jewellery purchases, they are unlikely to feel
certain impacts of certain economic pressures.
Put another way, the purchasing patterns of
teenage girls are not burdened with mortgage
repayments!
These consumers also tend to pay close
attention to evolving trends, where fashion
jewellery can meet a need that traditional fine
jewellery cannot.
With that said, while these young consumers may
not be on the search for fine jewellery today, in a
few years, they almost certainly will be.
By using fashion jewellery to forge a connection
between these consumers and your business
today, you’re increasing your chances to be
front-of-mind when the day comes when they
need to make that first major purchase.
44 | March 2024
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WATCH FEATURE
Dialling in on Trends
Predicting future
trends in the watch
industry is a tall task.
SAMUEL ORD speaks
with industry analysts
from around the world
about what lies ahead.
CHOPARD

HUGO BOSS
TAG HEUER
T
he past year was action-packed for the
international watch industry, defined by
surprising acquisitions and collaborations and
the release and embrace of innovative new designs.
For retailers, industry analysts, and consumers, it’s only
natural that anticipation for what lies ahead would be high
after such an exciting year.
Just as you might stay up late to reach the end of a gripping
novel or a finish must-watch television series, everyone has
one question on their mind – what’s next?
The increasing popularity of ‘smaller’ watches was one of
the most significant talking points of 2023, as consumers
and designers alike favoured comfort over statement.
In January, GQ published a report compiling data from 230
manufacturers to determine if watches are ‘getting smaller’.
Author Cam Wolf found that while the average timepiece
has not become notably smaller, larger watches are being
phased out.
“The fact that the overall average remained stagnant tells
me the pieces we hold up as examples of shrinkage are
really just new ends of a widening range,” Wolf writes.
“Maybe it’s not necessarily that all watches are downsizing,
but that there’s now a greater variety of available sizes.”
It’s been said that the sign of a truly comfortable watch is
that it ‘disappears’ on your wrist – it’s easy to forget it’s even
being worn.
Large watches also have to deal with empty space too. When
a timepiece is unnecessarily large, excessive negative space
can make the design feel empty.
Australian editor of Time and Tide, Jamie Weiss, says that he
expects smaller pieces to continue increasing in popularity
with local consumers.
“After years of larger case sizes being the dominant
trend, I think we’re really starting to see smaller
watches come into vogue - or rather, we’re seeing
smaller watches finally becoming more popular among
Aussies,” he tells Jeweller.
“Big watches have not been truly fashionable at the top
of the industry for quite a while, but Aussies - particularly
Aussie men - love a big watch and have been a bit behind
WATCH TRENDS
Market
Forecast
Cam Wolf
GQ
“Maybe it’s not necessarily that
all watches are downsizing,
but that there’s now a greater
variety of available sizes.”
Jamie Weiss
Time and Tide
“Big watches have not been truly
fashionable at the top of the
industry for quite a while, but
Aussies - particularly Aussie men
- love a big watch and have been
a bit behind the curve.”
CHOPARD
the curve.”
Weiss attributed this shift in taste to the decreasing
relevance of gender in design, as manufacturers
increasingly attempt to create products that appeal to
both men and women.
“We’ll continue to see watch cases shrink down to more
vintage proportions in 2024," he continues.
"I also think there’s definitely an increased interest in
vintage watches, especially among Gen Z, so we’re likely
to see more retro re-releases like the Piaget Polo 79 that
was just unveiled."
When asked about his favourite release of the past year,
Weiss drew attention to the Chopard Alpine Eagle, otherwise
known as the Sunburnt Red.
The piece was hailed as a breakthrough in watch design
and collaboration, with a conservative Swiss luxury
watchmaker partnering with an Indigenous artist.
“It’s cool to see a somewhat conservative Swiss luxury
watchmaker back a young Indigenous artist – a hardcore
punk musician and tattoo artist to boot – and give him an
enormous amount of creative control,” he explains.
“They’ve shown respect for Indigenous art and respect for
the Australian watch market/community through this collab:
it’s a turning point for watches in Australia.”
Add a splash of colour
The importance of size was a common trend among the
watch industry analysts contacted by Jeweller for this story.
Indeed, smaller timepieces are more of a celebration of
watchmaking.
Namely, the craftsmanship required to create an intricate
clockwork far exceeds that of a large, cumbersome, but
eye-catching design.
Frank Geelen of Monochrome Watches says that he expects
practicality and size to be a keen focus for designers.
“I’m expecting to see smaller, slightly more
compact watches – back to 38-39mm for noncomplicated
watches, and 41-42mm as a maximum
for chronographs and complications,” he explains.
“We’ll see fewer complications for the sake of
48 | March 2024

Since 1962, Duraflex Group Australia have been proudly distributing international
jewellery and watch brands. (02) 9417 0177 | www.dgau.com.au
March 2024 | 49

BRAND DIVE
EDOX'S ANNIVERSARY
140 YEARS OF WATCHMAKING
Among the many Swiss brands occupying shelves
and showcases in Australian stores sits EDOX, a
watchmaker planning to celebrate an important
anniversary with new special edition releases.
EDOX – otherwise known as Montres Edox et Vista
SA - was founded in the watchmaking hub of Biel in
Switzerland by Christian Ruefli-Flury in 1884.
EDOX celebrates its 140th anniversary this year,
with festivities beginning in the Swiss city of Les
Genevez, where the company manufactures more
than 70,000 watches annually.
The brand will mark the anniversary in all of
the traditional ways – including special edition
timepieces and new partnerships. Head of global
sales, Leonhard Schweiger, says the brand will also
use the opportunity to reflect on the past.
“In a fast-moving world, remaining relevant is
becoming more and more of a challenge. This
said, a family-owned structure is not necessarily
a downside in this case,” he tells Jeweller.
“It actually allows decisions to be taken quite
easily and fast since the members of the family
have been in charge of strategic positions for
several years now."
He continues: "The most important point, then,
is to find the right balance between modernity
and heritage.”
Since the 1960s, EDOX has specialised in
producing diving watches, creating many
patented technical features.
For many collectors, choosing the right dive
watch can lead to an endless rabbit hole of
specifications, designs, and brands.
The fundamentals are simple; however, there
is a need for utility, durability, and versatility to
ensure that it’s capable of being both a prized
possession and everyday wear.
While it can be a headache for consumers to
choose the suitable model, there’s a good reason
why they’re so popular – the proper dive watch is a
blend of practicality and sophistication.
Over the years, EDOX has distinguished itself
through extremely water-resistant diving watches,
which usually indicate both high-quality material
and sophisticated case design.
Schweiger says that offering value for money and
maintaining high production standards has been
pivotal to the brand’s success across 140 years.
“Consistency has been the main ingredient for
longevity, and that is how we want to celebrate.”
After a three-year hiatus, EDOX returned to
Australian stores in July 2022, announcing a new
partnership with Duraflex Group Australia (DGA).
Until 2019, the brand was distributed in Australia by
Lion Brands.
The brand announced its return at the 2022
International Jewellery Fair in Sydney, where it was
well-received by retailers. Marketing emphasised
the importance of the Swiss watchmaker as being
family-owned, offering a key point of difference
from other mass-production brands.
Expected to benefit from significant product
development and repositioning, at the time, DGA
managing director Phil Edwards was optimistic
about the brand’s prospects in the Australian
market.
Two years later, he says the brand has rewarded
that faith. All watches are hand-assembled in Les
Genevez, Switzerland, with a single watchmaker
responsible for assembly and regulation.
Edwards says that’s been a decisive factor for many
Australian retailers looking for quality assurance.
“A lot of the initial retailers wanting to stock EDOX
were watchmakers – having worked with many of
the Swiss watch brands, they had great confidence
in the quality of the watches,” he explains.
“EDOX is the clever alternative to mass production
brands. Given that some of those mass brands are
exiting wholesale – our retailers are delighted to
partner with a family-owned independent Swiss
watch brand.”
In the 1960s, the watchmaker released its iconic
SkyDiver timepiece – a rugged high-performance
tool watch produced for a Swiss military group.
In the years that followed, the SkyDiver evolved, and
its function-forward design eventually became the
foundation of the Neptunian collection.
When examining the EDOX catalogue today, it’s
hard to look past the new EDOX Neptunian Grande
Réserve, which meets all the style requirements of
a modern dive watch while preserving the features
that allow for durability.
Edwards says this ability to innovate and evolve
while maintaining the character of past designs
makes the brand so popular.
“EDOX provides high-quality Swiss watches with
irreproachable water resistance at affordable luxury
price points - these are the main components to
reach consumer satisfaction, and that is what the
brand delivers,” he says.
Resilience in legacy, resilience in build
Competition in the luxury market is fierce. There’s
something for everyone, meaning consumers will
find the perfect watch with enough research.
Conversely, this diversity in brands leaves many
retailers exhausted when trying to make the ‘right’
choice about what to stock.
“140 years of history means credibility and a
rich heritage. There’s no denying this is a highly
competitive category, but what sets EDOX apart is
their willingness to truly collaborate with retailers –
not dictate to them,” Edwards explains.
“The brand's diverse range of collections also plays
a key role in attracting retailers and consumers.
EDOX offers a wide variety of styles catering to
different preferences and lifestyles.
“This versatility allows retailers to curate a diverse
selection, appealing to a broader consumer base.”
As a final note, dive watches are an unusual
contradiction among collectors. In terms of
practicality, most people do not need a watch that
can survive a trip to the bottom of the ocean.
With that said – this level of durability and
performance is undeniably appealing. It’s akin to
owning a sports car that can do 250 km/h – you’ll
likely never drive that fast, but for some strange
reason, it’s nice to know it’s possible.
For Australian consumers, a dive watch is
appealing for all the same reasons – we may never
leap from an aeroplane above Airlie Beach or set a
course record at Bathurst; however, there’s a sense
of comfort in knowing that should that opportunity
ever arise, we’ll have the right watch for the job.
50 4 | | March 2024

AUDEMARS PIGUET
TED BAKER
TOMMY HILFIGER
complication and more practical usable watches for daily
wear. Ultra-thin is also a trend that is strong.”
Geelen also noted the increasing importance of colour in
design, even for traditionally conservative manufacturers.
Over the past 12 months, designers increasingly
incorporated exotic materials for dials to offer a
point of difference to competitors.
Put another way; there was a notable shift in the use of
colour in dials as brands searched for new ways to stand
out in a crowded market.
“The trend of more colourful dials, something that used
to be reserved for niche brands, has now found its way to
mainstream major brands,” Geelen continues.
“I liked seeing more luxury and elegant sports watches,
such as the Louis Vuitton Tambour, various AP Royal Oak
models, Laurent Ferrier Sport Auto, and also the very
affordable Tissot PRX.”
He continues: “One particular piece that has my full
attention is the first Rolex in titanium, the Yachtmaster
in RLX titanium. The other one is the Chopard LUC
1860 with the salmon dial – that’s timeless elegance!”
The Louis Vuitton Tambour was also a release of great
interest to Nick Hall of Man of Many, who suggests that
it may have signalled a serious change in strategy.
The brand’s iconic watch was reinvented with aunisex
design featuring a slim case, a ‘first-of-its-kind’ integrated
bracelet and an exclusive automatic movement.
“I think the release of Louis Vuitton's Tambour last year was
an interesting moment for the watch world,” Hall explains.
“The luxury brand's flagship collection marked a renewed
focus on traditional watchmaking that made a lot of purists
stand up and take note.
"It didn't so much signal a changing of the guard, but it did
show that brands outside of the known watchmaking sphere
could measure up to the Swiss masters. That may be an
unpopular opinion, however.”
Hold your horses
With consumer confidence and discretionary spending at low
levels, many analysts expect industry leaders to ‘play it safe’
Frank Geelen
Monochrome Watches
“We’ll see fewer complications for
the sake of complication and more
practical usable watches for daily
wear. Ultra-thin is also a trend that
is strong.”
Nick Hall
Man of Many
“I predict that most brands will stick
to their ‘greatest hits’ and look to roll
out anniversary models whenever
possible.”
Ariel Adams
A Blog To Watch
“Since we are in economically
uncertain times, we will have large
companies being very conservative
and trying to make the watches they
think the market currently wants.”
in terms of design.
This may lead to an emphasis on vintage pieces embodying
‘classic’ designs that are proven performers with watch
collectors.
“Admittedly, the boom in luxury watches is starting to slow
down, the result of economic constraints and a rising cost of
living, so it's unlikely that we'll see watchmakers try anything
too ambitious this year,” explains Hall.
“I predict that most brands will stick to their 'greatest hits'
and look to roll out anniversary models whenever possible.
For established players, the ability to dip into the archives
and revamp historical pieces will continue to be an important
point of distinction.”
Hall pointed to recent releases from Longines and Rado
as examples of this principle in action, with iconic brands
revisiting classic collections and revitalising them with new
materials and movements.
He suggests that this has increased the popularity of vintageinspired
designs, characterised by smaller case sizes, simple
dial layouts and GMT functionality.
With that said, this may also open the door for emerging
watch brands to capture new market share by offering
innovative new products to consumers who don’t want to
see ‘more of the same’ from major players.
“Over the past three to five years, we've seen a significant
uptick in interest across the watch market, predominantly
within the luxury category,” Hall continues.
“Brands such as Rolex and Omega will always be popular
with consumers; however, watch fans are slowly broadening
their horizons, actively working to educate themselves on
microbrands and mid-tier luxury maisons. I expect this to
continue in 2024.
Ariel Adams of A Blog To Watch agrees with Hall and thinks
that major brands will avoid taking significant risks.
“Since we are in economically uncertain times, we will have
large companies being very conservative and trying to make
the watches they think the market currently wants,” Adams
explains.
“Very little inventiveness and risk from the major watch
brands in 2024 is most likely. Smaller brands will again
have to be risky and provocative to get attention after a few
March 2024 | 51

TIMEX
CHRISTOPHER WARD
easy years of doing business, thanks to spillover demand
from Rolex.”
Adams says that regardless of the direction these major
manufacturers are taking, one thing is sure: finding out in
advance will be difficult!
“As you know, watchmakers are often quite secretive about
what they are going to release,” he says.
Wind back the clock
Vintage and heritage-inspired timepieces remain as hot
as ever; however, one analyst believes that manufacturers
can’t afford to release anything uninspired.
“It's getting to the point where the designs need to be
extremely well-executed to get any attention,” writes
Shane Griffin of Worn and Wound.
“In fact, the vintage-inspired pieces that get a lot of attention
- at least from watch blogs - are ones that have their own
unique take on vintage, such as Lorca, Farer, Serica, and
Laventure.”
Few brands have enjoyed as much attention as Christopher
Ward in recent years. After a brand ‘reinvention’ in 2020,
the increased price and quality of timepieces haveincreased
popularity among collectors.
In 2023, Christopher Ward launched a new line of
integrated bracelet sports watches that was one of
the most passionately discussed releases.
“Certain brands like Christopher Ward, Formex, and Ming
have made room for some non-traditional designs/features
that we'll likely see more of. I think the integrated
bracelet trend will slow, but not necessarily to a halt,”
explains Griffin.
The market is generally moved by 80 per cent of
what I would consider the ‘status quo’ for watch
design, but it's the 20 per cent that is the most
interesting, and I think most of that segment will
be microbrands trying to fight for a piece of the
smaller pie.”
Another analyst quick to raise the significance of
the Christopher Ward phenomenon was Rhonda
Riche of Watchonista, , who said C2Bel Canto was one
of her favourite releases of the past year.
Shane Griffin
Worn and Wound
“It’s getting to the point where the
designs need to be extremely wellexecuted
to get any attention.”
Rhonda Riche
Watchonista
“It’s a tough call. 2023 was a good
year for watches, but there were so
many releases.”
LOUIS VUITTON
“It’s a tough call. 2023 was a good year for watches, but
there were so many releases,” she says.
“The Christopher Ward C2Bel Canto stands out because
this mechanical chiming watch was a little unexpected
but beautiful and accessibly priced. It’s not surprising that it
was an award winner.”
Recipe for success
While the watch industry strives to offer ‘something for
everyone’ given how competitive the market is, collectors
are notoriously tricky to please.
While the past year brought about significant innovation in
design, Griffin says that he hopes manufacturers continue to
push the envelope.
“I guess I'm a bit of a curmudgeon when it comes to
watches, and it takes a lot to impress me these days,”
he jokes.
“I would stop well short of saying there weren't any nice
watches released in 2023; however, I honestly wasn't moved
much by last year's novelties.”
While heritage and vintage-inspired designs are popular,
offering something fresh is always the recipe for success.
Griffin says there are several examples of watchmakers
hitting the right balance between tribute and revitalisation.
“That said, I've been impressed with a number of
microbrands in general, and I do appreciate Omega's
continued push to advance movement quality,” he adds.
“I also think it's fair to give kudos to TAG Heuer and
Breitling for tightening up some of their designs
and properly calling back their heritages without
making 1:1 reproductions.”
Indeed, in a market as sensitive as watches
and timepieces, predicting significant change is
always difficult.
Consumer tastes are fickle and can change
quickly, while manufacturers and brands
remain tight-lipped about future plans.
With that said, it’s shaping up to be another year to
remember for the watch industry.
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March 2024 | 53

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STAND GC58 AUSTRALIAN JEWELLERY FAIR
LUXURY PEARL & OPAL JEWELLERY
54 | March 02 9266 2024 0636 • ENQUIRIES@IKECHO.COM.AU • WHOLESALE.IKECHO.COM.AU

AUSTRALIAN JEWELLERY FAIR
2024 Buying Guide
GOLD COAST
SHOWTIME!
The Australian Jewellery Fair is just weeks away, offering retailers the
opportunity to add new products and collections to their stores in
time for Mother's Day. Jeweller presents a Buying Guide packed with
the latest products from some of Australia's leading suppliers.
PLAN HEAD
WITH THE
BUYING GUIDE

BUYING GUIDE | AUSTRALIAN JEWELLERY FAIR
AV Diamonds Australia
avdiamond.com
STAND
94-96
Chemgold
chemgold.com
STAND
16
AV Diamonds Australia is a
jewellery manufacturer with a
strong international presence.
The company focuses on the
implementation of cutting-edge
programs, sophisticated marketing
strategies, and a dedication to client
satisfaction.
Chemgold has been supplying jewellery
retailers and manufacturers across Australia
and New Zealand for nearly 40 years. With
a range of products and services developed
with the needs of jewellers in mind, Chemgold
offers a one-stop service to assist customers
at every stage, from design, printing, casting,
and finishing to refining, findings and bullion.
Baume & Mercier
DURAFLEX GROUP AUSTRALIA
dgau.com.au/baume-mercier
STAND
84-88
With a rich legacy spanning almost
two centuries, Baume & Mercier
takes pride in precise watchmaking
that produces stylish and classy
pieces of the highest quality.
Baume & Mercier is distributed
in Australia and New Zealand by
Duraflex Group Australia.
Classique
SAMS GROUP AUSTRALIA
classiquewatches.com
STAND
63,78
Classique watches are available in
an array of metal and dial colours,
featuring a bracelet band, with the
option for a diamond bezel and fitted
with Swiss quartz movement. With
more than 55 years of experience in
the industry, Sams Group Australia
delivers quality timepieces and
jewellery to the Australian public.
BECKS Group Australia
becksgroup.au
STAND
49-50
BECKS remains committed to
creating world-class wedding
rings and jewellery products using
only the finest precious metals,
diamonds, and manufacturing
techniques. For both retailers
and their customers, BECKS
stands by three powerful words -
long live love.
Cultured Jewellery Design
culturedjewellerydesigns.com
STAND
3
Burgundy Diamonds
burgundydiamonds.com
STAND
70
Cultured Jewellery Designs (CJD) is an
Australian wholesaler of the world's
finest quality pearls. The CJD collection
has an extensive range of pearls,
including South Sea pearls and Tahitian
pearls, as well as colour gemstones and
diamonds.
Burgundy Diamond Mines (BDM) is an
Australian resource company focused on the
mining, production, manufacturing, grading
and sale of diamonds. BDM owns and operates
a manufacturing facility in Perth allowing for
the polishing, grading and sale of exceptional
white and fancy-colour yellow diamonds.
56 | March 2024

UNDENIABLE
PROVENANCE
GUARANTEED
TRACEABILITY
A TRUSTED SOURCE OF FANCY COLOURED
AND WHITE POLISHED DIAMONDS.
Burgundy Diamond Mines is a global company focused on the mining, production,
cutting, polishing and sale of diamonds. Our diamonds are ethically produced and
sourced from Ekati Diamond Mine in Canada’s Northwest Territories. For sales
inquires, please contact polishedsales@burgundydiamonds.com.
burgundydiamonds.com
March 2024 | 57

Dialog
dialogvault.com
STAND
31
Dialog offers retailers a convenient and
cost-effective way to access premium
mined diamonds, lab-created diamonds,
and jewellery styles through a flexible
subscription model. Dialog was launched
in November 2020 and is now featured in
more than 100 stores around the world.
Diamonds on Call
diamondsoncall.com
STAND
79
Diamonds On Call is a business-to-
business e-commerce platform that
assists thousands of diamond suppliers
and retailers daily. Diamonds On Call
offers users support for purchasing a
diamond and quick delivery at a low cost.
Distell
distell-jewellery.com
STAND
74
Distell was established in 1982 and is a
family-owned business. Distell's strength
is in colour gemstone jewellery across
rings, earrings and pendants.
The range has evolved over the past
seven years, with products being
designed for independent retailers in
Australia and New Zealand.
Georgini
WEST END COLLECTION
georgini.com.au
STAND
82-83
Featuring delicate pink tones of
Argyle pink diamonds
Georgini Jewellery will be exhibiting
the latest collections at the Australian
Jewellery Fair, including the new
Diamonds by Georgini Collection, featuring
diamonds set in 18-carat gold plated
sterling silver. Georgini is distributed by
West End Collection.
PinkKimberley.com.au
Become a stockist today 02 9290 2199
58 | March 2024

Gerrim International
gerrim.com
STAND
44-45
Celebrating 30 years as a
wholesaler in the fine jewellery
industry, Gerrim is a brand
that prides itself on trust and
loyalty and offers the
assurance of elegance, style
and quality. As designers and
manufacturers, the company
sources ideas and inspiration
from around the world.
House of Bond
houseofbond.co.nz
STAND
7
Established in 1972, House of
Bond’s philosophy is quality
jewellery at affordable prices.
With more than 50 years in the
industry, the House of Bond has
built a reputation through integrity,
respect, and a commitment to
excellence in delivering exceptional
results for customers.
Imajpak
imajpak.com
STAND
89, 90, 91
Imajpak offers retailers a one-stop
shop for all their jewellery packaging,
jewellery displays, jewellery boxes and
gift items. A proudly family-owned
business, Imajpak has been servicing the
jewellery industry since 1990.
Swiss Made Mechanical
Classiquewatches.com
Become a stockist today 02 9290 2199
March 2024 | 59

BUYING GUIDE | AUSTRALIAN JEWELLERY FAIR
Mark McAskill
Jewellery
markmcaskill.com.au
STAND
14-15
Mark McAskill Jewellery
manufactures fine quality ninecarat,
18-carat and platinum
jewellery. Proudly offering a range
that consists of rings, earrings, and
pendants in both colour gemstones
and diamonds. Collections include
Pink Caviar, Estelle, Lux, Aura,
and Modern Bridal.
Pink Kimberley
SAMS GROUP AUSTRALIA
pinkkimberley.com.au
STAND
63,78
Pink Kimberley creates pieces of jewellery
that encapsulate the uniqueness and
beauty of Argyle diamonds while making
them wearable and elegant. Pink Kimberley
pieces display bright, vibrant Argyle pink
diamonds set in lavish designs.
Sams Group Australia has more than 55
years of experience in the industry.
NCF AUS
ncfaus.com
STAND
37
NCF AUS began in Hong Kong
20 years ago, specialising in
the distribution of Made in Italy
jewellery. In 2021 the company
opened a branch in Sydney, aiming
to bring unique designs, quality
craftsmanship and the latest
trends to independent retailers with
products not available elsewhere.
R&D Jewellery
rdjewellery.com.au
STAND
54,69
R&D Jewellery was launched
25 years ago, specialising in
Italian-made jewellery.
Since then, the range has
expanded and evolved to
meet market demands, with
more than 200,000 lines from
across the world available
with quick delivery.
PEKA
peka.co.nz
STAND
42-43
PEKA is a wholesale jewellery provider with
an extensive range of gold and silver chains,
pearls, findings, earrings and pendants. For
more than 40 years, this award-winning family
business has provided exceptional products
and service to the trade across New Zealand,
Australia and the Pacific.
24-25
RAD Jewellery Wholesale
radjewellerywholesale.com.au
At RAD Jewellery Wholesale, pride is
taken in creating stunning designs
with precious and semi-precious
gemstones. From basic classics
to extravagant and dressy pieces,
the company offers a comprehensive
selection to satisfy every
discerning customer. These include
earrings, rings, pendants,
necklaces, and tennis bracelets.
STAND
60 | March 2024

March 2024 | 61

BUYING GUIDE | AUSTRALIAN JEWELLERY FAIR
Sapphire Dreams
SAMS GROUP AUSTRALIA
sapphiredreams.com.au
STAND
63,78
Proudly presented by Sams Group
Australia, Sapphire Dreams
pieces combine timeless design
with the unmatched beauty of
Australian sapphires.
The range includes earrings,
bracelets, necklaces, and rings,
capturing the allure and timeless
elegance of sapphires.
WOLF
DURAFLEX GROUP
AUSTRALIA
dgau.com.au/wolf
STAND
84-88
WOLF represents decades
of innovation and the
pursuit of perfection,
creating quality products
that raise the standards of
design. The WOLF watch
stand is ideal for displaying
timepieces at home, on your
bedside table, office desk, or
while travelling.
Searay
searay.net.au
STAND
59
Searay is a leading Australian
jewellery wholesale brand with a
reputation for high quality
designs and reliability.
Since 2002, the company has been
supplying an extensive range of
jewellery to retailers in Australia
and New Zealand.
World Shiner
worldshiner.com
STAND
21
World Shiner is a diamond and
jewellery wholesaler serving more
than 10,000 customers globally
across Australia, Germany, India,
Italy, Japan, New Zealand, the UK
and the US. World Shiner takes
great pride in a legacy forged
over three generations.
Tusk Gallery
tuskgallery.melbourne
STAND
2
Tusk Gallery has been a colour
gemstone wholesale supplier to
the jewellery industry for more
than 40 years and has been
operating in Melbourne since
2021. The company supplies high-
quality Ceylon sapphires for an
affordable price.
Worth & Douglas
wdrings.com
STAND
39-40
Vina Jewellery
vina-jewellery.com
STAND
29-30
Pinaroo Jewellery & Gifts began
in 1989 and has since built a
reputation and a loyal following
of retailers and consumers in
Australia and New Zealand.
Pinaroo believes in not only
crafting jewellery, but experiences.
Worth & Douglas is a family
business established in 1953
with offices in Australia and New
Zealand. Manufacturers and
wholesalers of W&D wedding
rings, including ZiRO – The Black
Ring, Memento Flora and Fauna
lines, bangles, men's jewellery,
engagement rings, earrings
and pendants.
62 | March 2024

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March 2024 | 63

BUSINESS
Strategy
Improve trust in your business
by asking the right questions
It’s been said that trust, not money, is the currency of business and life.
RYAN ESTIS details an effective strategy to improve trust within your business.
“How can I support you in your work?”
On the surface, it seems like a simple
question; however, when business
leaders pose it to their staff, the impact
on bonding can be mighty because it
immediately encourages vulnerability and
establishes trust.
As a leader, it demonstrates you care about
your staff’s well-being and professional
achievement. Your employees can feel
safe asking for guidance — no matter how
difficult the journey ahead gets.
Vulnerability and trust are essential
elements of leadership. It means giving
others the benefit of the doubt and believing
in the goodness of intentions. Trust can’t
be demanded or assumed. Instead, leaders
must earn trust through words and actions.
Promoting authentic, open
communication and vulnerability sets
the stage for a high-performing work
environment. Leaders who speak
honestly about challenges they face and
are overcoming empower team members
to share their own challenges openly.
The report described leadership
competencies as ‘transmission circuits’,
and these attributes can be oriented toward
the behaviours that build trust. The research
identified seven key competencies that
business leaders should keep in mind.
• The ability to establish connections that
spread ideas and accomplish work
• A drive for development that focuses on
needs, expectations and aspirations
• Comfort with leading change in strategy
and alignment with vision
• The capacity to inspire others by
encouraging their efforts
• Critical thinking that seeks information
openly, invites dissent and stimulates debate
• Communication skills that result in open
and transparent dialogue
• A need for accountability to hold everyone
responsible for performance
Gallup's research demonstrated a threefold
increase in engagement among
employees who trust their leaders.
Employees who trust their leaders are
61 per cent more likely to stay with their
company and not search for another job.
We’re
hardwired
to seek
connections
with our fellow
humans,
but those
connections
don’t always
happen on their
own. That’s our
responsibility
as leaders.
yourself without knowing how other people
will react. Even the most creative people
will struggle if trust is low and vulnerability
is viewed as a weakness.
• Inspire innovation: Innovation is
daring to disrupt the status quo. We
often think of innovators as bold and
brash, but that ignores the uncertainty
and hard work involved.
Innovation is about trial and error, with no
guarantee of finding success. You need
to trust others and yourself while being
vulnerable enough to fail – sometimes
over and over again.
• Building meaningful relationships: To
build connections that matter, you need to
be approachable and empathetic.
You don’t have to make grand gestures;
you can lend an ear to a colleague or show
interest in what someone says. Those
small acts create trust and allow others to
be vulnerable with you.
That’s where deep and authentic
connections begin to form.
We’re hardwired to seek connections with
our fellow humans, but those connections
don’t always happen on their own. That’s
our responsibility as leaders.
According to a 2021 Gallup survey, only 23
per cent of employees ‘strongly agree’ that
they trust their leadership. That significant
lack of trust isn’t just an internal problem –
it ultimately translates to worse outcomes
for your customers.
Diving deeper
Indeed, when you invest the time to
cultivate trust, the payoff can be a source
of tremendous competitive advantage by
encouraging creativity, inspiring innovation,
and building deeper relationships.
• Open the door: Creativity thrives in an
environment of trust and vulnerability.
To be creative is to reveal a hidden part of
Questions that build trust
Over the years, I’ve developed a series of
four questions a business leader can ask
to help you quickly build trust in staff.
This exercise works for new businesses
and those that have just found themselves
slipping into unhealthy patterns.
It inspires more authentic, open, and
vulnerable conversations firsthand. Let’s
64 | March 2024

explore each of these questions and how
you can use them to cultivate meaningful
two-way conversations with your staff.
• What’s something you can be grateful
for right now? Begin the process
toward greater trust and vulnerability by
accentuating the positive.
If you’re asked this question, look around
and take a second to reflect: What can you
be thankful for right now? How can you
share that with your counterpart? As the
leader, asking the question, how can you
celebrate with them?
There’s no right or wrong answer to
this question. Your answer can be
simple, like the cup of coffee you had
that morning, or complex and profound,
such as overcoming a health crisis or
reconnecting with a loved one.
This question opens the floor to let
employees speak freely and candidly about
what they’re grateful for while revealing
something about who they are.
• What’s something you’re struggling
with? Answering this question can take
time and effort. Maybe you’re fearful of
rejection. Perhaps you can’t even admit to
yourself that you need support.
This powerful icebreaker can be the first
step toward finding real solutions. For
some employees, the chance to answer this
question can overcome their fear of being
hurt, especially if they have longstanding
trust issues.
Again, these answers can range widely,
touching on personal or professional
obstacles. You might need help with job
performance or work-life balance. You
might need help taking that next step in
your career.
As a leader, when you listen deeply and
affirm your employees’ answers, you’re
building a trusting relationship. You might
even be able to provide actionable solutions.
This same question can help you overcome
sales obstacles. Make your customers
challenge your challenge and support them
in solving it.
• What have you learned recently?
Top professionals know there’s always
something new to learn. This question
allows every staff member to name
something they can improve — for
themselves and the business.
Leaders set the tone here, too. If you can
admit that you’re a work in progress in staff
meetings, you’re showing vulnerability and
giving permission for your employees to do
the same.
When everyone does this, you’ve got a group
that’s been vulnerable and has seen they
can trust each other.
• What’s a fact about you that not too many
people know? Trust and vulnerability aren’t
just about work. Revealing a fun fact can
change someone’s perspective of you for
the better. And because you trust them, they
can trust you with a fun fact of their own.
For example, your newest sales hire shares
that they run a marathon every year. You
know right away that they are willing to put
preparation, dedication and a ton of effort
into achieving goals that are important to
them. You know they have physical and
mental endurance. And you know they
don’t rest on their laurels because there’s
another marathon to run the following year.
FOUR
QUESTIONS
TO ASK TO
BUILD TRUST
What’s
something
you can be
grateful for
right now?
Begin the
process on a
positive note.
What’s
something
you’re
struggling
with?
Encourage your
employees to
open up without
judgment.
What have
you learned
recently?
There’s always
something
new to learn in
business..
What’s a fact
about you that
not too many
people know?
Dive deeper to
learn more about
the people you
rely upon.
Trust and vulnerability in your business
US entrepreneur and philanthropist Marc
Benioff once said, “trust has to be the
highest value in your company, and if it’s not,
something bad is going to happen to you.”
With the research from Gallup detailed
above in mind, I’m sure you’d agree he
was right. With that said, what do trust and
vulnerability look like in your business?
You won’t always be able to run my
questions to build trust in a staff exercise
for every situation. With that said, there are
many ways for leaders to begin practising
vulnerability at work. Try adding these
simple steps to your routine to strengthen
employee engagement.
• Admit when you need help
• Tell people how they can support you
• Clarify that the support you’re offering is
really what they need
• Let go of ego
• Have courageous conversations
Trust and vulnerability flourish on teams
where people can freely communicate,
connect, and try and grow — and get back
up and try again if they fail.
Leaders create these structures when
they show up as their whole selves,
embrace vulnerability, and empower
others to do the same.
How can you inspire trust and vulnerability
in your business?
RYAN ESTIS helps companies achieve
breakthrough performance. He
recently publshed a new book,
Prepare For Impact. Learn more:
ryanestis.com
March 2024 | 65

BUSINESS
Selling
Products and sales:
For your business, it's a game of two halves
What’s the difference between product and staff training?
DAVID BROWN explains the crucial distinction between two essential elements of retail.
As any sports team knows, winning is
about committing to all aspects of play
for the entire game.
You’ll seldom win with an excellent first
half if the second one doesn’t back it
up. You’ll also struggle if your offence
is excellent, but the defence leaks like a
sieve. Sales training is the same.
In the competitive landscape of the
jewellery industry, a store's success often
hinges on its staff's expertise and skills.
Staff training is an invaluable investment
that goes beyond merely imparting
product knowledge and leaving the staff
the task of deciding how they will deliver
it. Likewise, the best sales training won’t
work if the product knowledge isn’t there
to back it up.
• Enhanced customer experience:
Staff training directly contributes to the
overall customer experience. When your
staff are experts in product knowledge
and sales techniques, they can offer
customers a more personalised and
informative experience.
This not only builds trust but also
increases the likelihood of making a sale.
• Increased sales and revenue: Training
is an investment that offers increased
returns if done correctly. Well-trained
staff understand the art of selling beyond
presenting product features.
Sales training equips employees with
the skills to identify customer needs,
overcome objections, and ultimately
close deals. This translates to increased
sales and, consequently, higher revenue
for the store.
• Brand consistency: Consistency
is critical to maintaining a strong
brand image.
When your staff are uniformly trained,
they convey a consistent message about
your brand and its values.
This consistency helps build brand trust
among customers and, as a result,
increases opportunities for sales.
• Adaptability to industry trends: The
jewellery industry is dynamic, with trends
evolving rapidly. Staff product training
ensures your employees are updated
on the latest industry trends, emerging
designers, and customer preferences.
This adaptability positions your store as
a trendsetter and keeps you ahead of the
competition. Customers will view you not
only as a retailer but also as a source of
information, improving their relationship
with your business.
• Employee morale and retention:
Providing training opportunities
demonstrates that you value your
employees and are invested in their
professional development.
This contributes to higher job satisfaction,
which, in turn, improves employee
retention. A staff member who feels
supported and knowledgeable will likely
be more engaged and motivated.
It’s important to understand the difference
between ‘sales training’ and ‘product
training’ and ensure you get the right
balance of each.
What is product training?
Product training centres on
imparting knowledge about the items
your store offers.
When your staff
are uniformly
trained, they
convey a
consistent
message about
your brand, its
values, and the
quality of your
products.
This includes details about gemstones,
precious metals, craftsmanship,
and unique features that set your products
apart. The primary goal of product training
is to ensure that your staff is well-informed
about the merchandise, as this knowledge
forms the foundation for effective and
meaningful customer interactions.
Product training is often factual and can be
delivered through manuals, workshops, and
online courses. It provides employees with
the technical information needed to answer
customer queries accurately.
What is sales training?
On the other hand, sales training emphasises
the ‘art’ of selling, as it is, indeed, an art!
It encompasses various skills, including
customer engagement, effective
communication, objection handling, and
closing techniques. The key objective of sales
training is to empower your staff to turn
potential customers into satisfied buyers.
It's about understanding customer needs,
building rapport, and guiding them through
the purchasing process. Sales training is
often interactive and involves role-playing
scenarios, workshops, and ongoing coaching.
It focuses on developing soft skills that are
crucial in customer-facing roles.
Stronger together
While product training provides the
foundational knowledge, sales training is
the catalyst that turns that knowledge into
successful transactions. Together, they
enhance the overall shopping experience
for customers.
It is not merely about knowing the products
but also about understanding the art of
selling. This dual approach positions the
store for sustained success, elevating
its reputation and ensuring customer
satisfaction in every interaction.
DAVID BROWN is co-founder
and business mentor with Retail
Edge Consultants. Learn more:
retailedgeconsultants.com
66 | March 2024

BUSINESS
Management
Beware presumptions! They’re a
management trap you must avoid
It’s human nature to make presumptions, but they can end in disaster.
DALE FURTWENGLER explains how you can avoid making mistakes with self-reflection.
While presumptions can simplify life,
beware! They are equally likely to
produce unintended results,
particularly in business.
Recently, I helped a friend develop a
marketing message. I offered several
suggestions based on what I presumed to be
the interests of his market.
As I reflected on our conversation later in
the day, I realised that I hadn’t asked him any
questions about the market or the results of
previous attempts to reach said market. In
that moment, I realised how often we act
on presumptions that could be, and often
are, erroneous.
Presumptions arise naturally based on
our prior experiences. They’re insidious
in that we don’t realise that we’re making
presumptions or that we are doing so without
exploring both sides of the issue.
In the situation outlined above, I offered
advice after realising that I had no idea what
strategies had worked previously in the past.
I didn’t know what fears, anxiety, and
frustration the management in his target
market were experiencing. His background
is working with larger organisations, while
I specialise in smaller to medium-sized
businesses. I hadn’t appropriately factored
that difference into our discussion.
Learning from history
It’s important to make an effort to
understand the successes and failures of
previous strategies. In the example I outlined
above, I didn’t have a strong understanding
of what results had been produced by his
previous marketing campaigns.
Without this knowledge, how could I have
concluded that my advice would benefit him?
How could I be confident that my insight
would lead to improved results?
The simple answer is that I could only reach
that conclusion by presuming that my prior
experience was relevant - without the benefit
of thorough analysis!
Over the years, I had intentionally avoided the
market he works within; consequently, there
was little chance that I would understand
the industry's intricacies, which are crucial
in reaching an audience effectively with a
marketing campaign.
I presumed they were the same as those
of the smaller and medium businesses I
preferred working with. While that may be
true in some instances, I’m sure there are
other motivations and factors to consider
when working with larger organisations.
Without asking questions, I could only
make presumptions about these factors
and motivations because I have little firsthand
knowledge to operate from.
Market preferences
I mentioned that I had intentionally
avoided working with his target market.
My experience with large organisations,
albeit limited, was that they are heavily
bureaucratic and slow-moving.
In other words, their modus operandi
isn’t aligned with my preference for a
results-oriented, quick analysis, quick
decision-making approach, which is often
the hallmark of a small to medium-sized
business, such as a jewellery store.
That is not to say that my preferences
are correct, while others are wrong. It
simply means that the likelihood of either
approach proving successful in the other
market is small.
That said, it’s easy to understand how
presumptions about the interests of others
Without this
knowledge,
how could I
have concluded
that my advice
would benefit
him? How
could I be
confident that
my insight
would lead
to improved
results?
- when you have a different preference and
strategy – can be way off the mark.
With the importance of avoiding
presumptions established, let’s examine a
better approach for dealing with these kinds
of situations.
Question everything
Presumptions are like emotions;
they’re automatic responses to the
situations we face. We naturally draw upon
prior experiences to help navigate the
current situation. Because presumptions
arise naturally, and we can’t prevent
ourselves from making them, you must
allow them to occur – and then pause.
Take the time to ask yourself important
questions, such as: What information am
I missing that might alter my perception
of these circumstances? What could I be
overlooking?
As an example of this in action, during my
reflection on the example I detailed above,
I realised that I didn’t understand enough
about my friend’s target market. I didn’t
know the concerns of the leaders in his field,
and I also didn’t particularly like working
with his market!
Those are important factors that, when
overlooked, led to significant deficiencies in
my knowledge –yet I still offered him advice.
I’m sure you’ll agree this was not the right
move, especially with a friend.
Fortunately, it’s easy to improve on these
kinds of mistakes. You can begin each
day by reminding yourself that you won’t
offer advice until you’ve asked yourself the
following question: What information am I
missing? What could I be overlooking?
If you want to be of value to others, to your
business, and your community, develop the
habit of challenging your presumptions.
DALE FURTWENGLER is a public
speaker, author, and the founder of
Teaching Confidence.
Learn more: teachingconfidence.com
March 2024 | 67

BUSINESS
Marketing & PR
Every successful marketing strategy
begins in the same place
Marketing campaigns are rarely successful without a thorough understanding of the target audience.
DENYSE DRUMMOND DUNN asks an important question – how well do you know your customers?
Are you considering overhauling your
marketing strategy and trying something
new?
Start by asking yourself an important
question – how well do you know your
customers? Knowing where to start
when answering this vital question can be
challenging.
• What do they think about your
advertising? This is another of the
ongoing performance metrics you
must follow to ensure you know your
customers.
What once amused or interested your
customers in the past can become
tedious and even annoying.
To help you do so, I’ve assembled this
helpful checklist of the facts you must
have to develop a complete understanding
of your customers.
As you make your way through these
questions, be sure to note any information
lacking in your understanding of your
customers. These are the areas you
must improve upon to succeed in your
marketing efforts.
• Who is your customer? Start this
process slowly. Begin by identifying all
the basic information you have about your
customers.
This includes age, gender, location,
income, and other obvious data points.
What do they consume? What type of
media do they gravitate towards? What
do they value in a business? What is their
motivation for shopping?
Look at how much your customer spends
on your product or service and how much
they have available. How does what they
spend compare with the amount they
spend on your competitors? Is your share
increasing or decreasing?
What does your customer need? What
solution are they searching for? Perhaps
you can offer the solution to a problem
they didn’t even know they had.
• What business are you in? Although this
refers more to the category
than the customer, it is important to
ensure you’re looking at this question from
the perspective of your customers and
your business.
An answer such as ‘jewellery store’ isn’t
enough. What type of jewellery does your
business specialise in? Is there a focus
on services, such as repairs and bespoke
creation?
Many businesses work with industry
definitions rather than customer
definitions. If you want to know your
customers, you need to understand what
specific category they are interested in.
• Who are your major competitors?
Maintaining a consistent understanding of
who your competitors are will
further strengthen your knowledge of
your customers.
If you complete a list of competitors and
include why you view them as rivals, you
may uncover new avenues for increasing
your customer base.
Furthermore, do you know as much about
your competitors’ customers as you do
about your own? Study this and work out
exactly where you stand with them.
• What do they think of your product?
Product testing is an overlooked factor in
business development.
This shouldn’t just occur whenever a new
product is launched. Your customers'
perception of your products should be
measured to some degree every year so
that you keep your finger on the market's
pulse.
Furthermore, what do they think of the
price? When answering this question,
don’t just consider the price your customer
pays for the final product. Do they
purchase products online with packaging
and extra shipping costs?
Are they driving out of town, or even
further, to make this purchase? All these
factors add more to the perceived cost of
your business.
What does
your customer
need? What
solution are
they searching
for? Perhaps
you can offer
the solution
to a problem
they didn’t even
know they had.
Ensure you know when your campaign
needs updating from their perspective,
not just yours.
• What do they think about your online
presence? Are your customers even
aware of your business online? Is your
business being noticed?
Unless you thoroughly understand your
customers’ habits online, chances are
your marketing efforts will not reach
them when and where they are most
valuable.
With that in mind, what do they think of
your social media presence? You can’t
hide your personality on social media or
delete what you have already shared.
The words you choose for a Tweet,
the ideas you share on Facebook,
the images you post on Pinterest,
everything stays online – somewhere!
Approach your online discussions in the
same way you would any other form of
communication and use the same tone
and spirit.
• Why do you sell? The most important
question comes last.
Why are you in the business you’re in?
You need to be very clear on the answer
to this question to know how to answer
all the other questions.
I suggest you return to the top, revisit
each point, and answer them truthfully.
By reviewing each question, I am sure
your thoughts will have changed or at
least been modified because of this new
perspective.
DENYSE DRUMMOND-DUNN works
with organisations that want to attract,
delight, and retain more customers.
Learn more:: c3centricity.com
68 | March 2024

BUSINESS
Logged On
Understanding your online presence:
The truth about social media algorithms
What is a social media algorithm, and how does it affect your business?
SIMON DELL breaks down the fundamentals of social media marketing.
Many of us have heard the term ‘social
media algorithms’, and depending on how
much time you spend on these platforms,
you’ve probably noticed changes in your
news feed.
You may have even seen the news
concerning Instagram CEO Adam Mosseri
and his announcement of changes to
the algorithm used on his platform and
with that said, what does that mean for
consumers and businesses?
For better or worse, social media
platforms such as Facebook, LinkedIn,
Twitter, and Instagram regularly
change their algorithms to reinvent how
consumers experience content.
Do you remember when Facebook just
‘showed you everything’, with the most
recent posts at the top? Those days are
long gone, with social media platforms
having more control of the content users
can see.
With that said, what’s the ‘truth’ about
social media algorithms, and how do they
affect your business and marketing?
What are social media algorithms?
Social media algorithms are simply a way
to sort which posts you see and when.
For example, your typical news feed used
to be in reverse chronological order, so
the most recent posts were at the top.
Now, the methods are more complex
and based on artificial intelligence and
machine learning. In some cases, you
can still choose to view your most recent
posts first; however, the default setting is
to show posts according to the platform’s
algorithm.
The intent is to create a better user
experience – or so these platforms
claim. Social networks want you to have
a better experience so they can sell more
advertising at a higher price, and that’s
genuinely why algorithms exist.
Every social media network is different;
however, these algorithms aim to give
social media users faster access to
relevant content.
The algorithm will often consider
relevancy, shares, likes, retweets, user
feeds, types of content, and quality
content. For example, a high-quality
piece of on-trend content will have more
chances of appearing on a user’s feed.
However, most of this is based on your
behaviour on the platform. For example,
you may see posts from people you
interact with the most. You'll see more
music-related posts if you search for a
lot of music-related content. Using these
metrics, the algorithm has a higher
chance of showing users the content
they will likely interact with by sharing,
commenting on, or becoming a subscriber;
these will, in turn, keep them on the
platform.
The issue for businesses and marketers is
that the algorithm changes frequently, and
the networks aren’t transparent.
However, they often give out snippets of
advice so marketers can keep up with
what works best for their customers.
Facebook’s algorithm, for example, seems
to be moving away from content that is too
explicitly sales-based, focusing more on
relevant ‘conversations’. And why wouldn’t
they? They want businesses to pay to
advertise, not do it for free using the right
hashtags.
Algorithms for advertising
The same principles apply to all social
media advertising. For example, the whole
basis of Facebook’s advertising program is
The issue for
businesses
and marketers
is that the
algorithm
changes
frequently,
and the
networks aren’t
transparent.
that you should, in theory, be able to reach
the right people at the right time.
So, it delivers sponsored content and social
media adverts according to your browsing
history and other online interactions.
The problem is that social media algorithms
are never perfect. So, if you try to manage
Facebook advertising yourself, you get nice,
easy options to let Facebook choose your
target audience and market accordingly.
This is great; however, you don’t get the
insight to your audience that a marketing
professional could deliver.
The ‘fresh content’ illusion
Social media algorithms also work to
keep users interested and engaged.
Psychologically, if you keep seeing identical
posts because you don’t follow many
accounts, you think there’s nothing new,
and you’ll check less frequently.
A dynamic social media marketing strategy
will help you ‘switch it up’ so it feels fresh
and new whenever your users open the
app. This altered news feed experience
also allows social media companies to
rotate more ads (impressions) through the
user’s feed, which is appealing when selling
advertising to businesses.
Understanding the basic principles behind
social media algorithms is crucial when
determining your marketing strategy. With
the above in mind, you should be able to
optimise your approach to these platforms
and deliver better results for your business.
Keep this in mind: The secret to customercentricity
is based on designing your
world around an understanding of your
customer’s needs and then focusing on
meeting those requirements.
This core idea relates to everything on
this list — and should relate to everything
in yours.
SIMON DELL is co-founder and CEO
of Cemoh, a Brisbane-based firm that
provides marketing staff on demand.
He specialises in digital marketing and
brand management. Visit: cemoh.com
March 2024 | 69

My Bench
Alex Hamilton
Artisans Bespoke Jewellers
Age 55 • Years in Trade 36 • First job Cabinet maker
SIGNATURE PIECE
ANDROMEDA RING
Remarkable 18-carat yellow and white gold with a 5.27-carat
crystal opal, a halo of blue and green diamonds, and an outer
halo of pink spinel and mandarin and tsavorite garnets.
FAVOURITE GEMSTONE Sapphire.
FAVOURITE METAL Platinum.
FAVOURITE TOOL Pulse Graver.
BEST NEW TOOL DISCOVERY Pulse Graver.
BEST PART OF THE JOB Handing a completed
job to a customer and seeing the look of
satisfaction on their face.
WORST PART OF THE JOB
Fixing jewellery that hasn’t been made well.
BEST TIP FROM A JEWELLER Listen to all the
advice you receive and take it on board.
BEST TIP TO A JEWELLER Try new techniques.
BIGGEST HEALTH CONCERN ON THE BENCH
Neck and back from sitting for long hours.
LOVE JEWELLERY BECAUSE The endless
possibilities of being creative with metals and
gemstones.
70 | March 2024

March 2024 | 71

OPINION
Soapbox
Will you embrace the advantages
of Artificial Intelligence?
What will your business look like in 10 years time? MARION VAN DER KROGT encourages
jewellers to explore the advantages artificial intelligence may bring their businesses.
After bursting into mainstream
popularity two years ago, artificial
intelligence (AI) has taken the retail
sector by storm.
ChatGPT became a household name,
and many retailers – including jewellers
– were left scrambling to keep up with
the latest developments.
When you’re already facing the long hours
associated with running your own business,
it can be challenging to find the time to stay
on top of the latest ‘tech trends’.
I recently had a fascinating experience
listening to an outbound phone call made
by an AI agent.
The level of sophistication was
indistinguishable from a human call
centre agent.
Fast, convenient, and consistent service
are three commonly described attributes
when customers are asked about their
‘ideal’ business – these ‘AI agents’ meet
these needs.
Programs such as ‘chat bots’ can help
customer care staff handle a high volume
of enquiries without increasing personnel.
These programs can also improve
efficiency and productivity.
Then, there’s the added benefit for your
employees and the time freed up by not
having to respond to repetitive online
customer enquiries. This can prevent
burnout among staff, who may grow
weary when dealing with the same daily
complaints or questions!
Considering this matter from a more
‘glass half full’ perspective, when more
time is made for employees to focus
on meaningful tasks, this can increase
personal satisfaction from work. It’s a
win-win outcome.
This made me realise the potential AI
holds for small jewellery businesses.
It has the potential to ‘level the playing
field’ and unlock new possibilities for
independent retailers.
Regarding jewellery, many businesses
are already using AI tools to generate
personalised suggestions to design
customers' dream necklaces or rings.
It won’t be long before customers
approach you with their AI-inspired
designs and ask you to bring them to life.
AI is revolutionising the way we do
business. Its impact is here to stay – and
you need to be ready for this change, or
you risk falling behind.
With rapid advancements, are you
keeping up with the new features and
capabilities? Can you evaluate what's
helpful for your business and leverage
this technology effectively?
As someone who helps jewellers run their
businesses efficiently through technology,
I've witnessed how quickly it can create
new opportunities and even reshape
entire industries.
In the not-so-distant future, AI will
empower small jewellery businesses with
capabilities such as intelligent chatbots
and advanced automation.
Some programs provide invaluable
insights, automate mundane tasks, and
enhance customer experiences — all at
a fraction of the cost these processes
traditionally consume.
There’s no shame in feeling cautious
about the progression of AI in retail.
Jewellery is an industry rooted in
tradition, and these traditions are
meaningful.
With that said, it would be foolish to
resist the benefits these programs can
offer your business for the sake of being
contrarian.
I think it’s important to focus on the
"As someone
who helps
jewellers run
their businesses
efficiently
through
technology,
I've witnessed
how quickly it
can create new
opportunities
and even
reshape entire
industries."
positives these programs may bring
to your business rather than fear the
‘machines taking over’.
While programs such as ChatGPT became
overnight sensations, the development of
these AI services has been gradual. Your
business's adoption of these programs
should also be gradual – you don’t need to
hand the keys to a robot tomorrow!
Whether it be implementing a chatbot
to converse with customers online or
installing a new program to manage your
inventory – there are many options.
Perhaps you could explore marketing tools
that reduce time spent sending emails and
making social media posts or consider
sales analysis and forecast programs.
So far, AI tools that focus on the marketing
side of business have seen the highest
adoption rate among small business
owners. These include tools that assist
with content ideation and creation by
proposing relevant topics, writing emails,
making social media posts and even
AI-supported video editing tools. Perhaps
that's where your business could begin.
I chose to embrace AI's advantages for
small businesses. It enhances operations,
improves efficiency, and better serves
customers. That’s a win for me!
AI will help today's jewellers make their
mark tomorrow – the degree to which it
impacts your business is on you.
With that said, let’s never forget the value
of human courtesy – it never hurts to
throw in a polite ‘please’ and ‘thank you’
to our AI counterparts, just in case Skynet
really is watching.
Name: Marion van der Krogt
Business: Alox CRM
Position: Founder and CEO
Location: Netherlands
Years in the industry: 17
72 | March 2024

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