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Jeweller - September 2024

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VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY SEPTEMBER <strong>2024</strong><br />

Tech Takeover<br />

EMERGING TECHNOLOGIES<br />

OPEN NEW DOORS<br />

Gavel to Glory<br />

FANCY COLOUR DIAMONDS<br />

IN THE SPOTLIGHT<br />

Together Forever<br />

BRIDAL AND ENGAGEMENT<br />

JEWELLERY SHINES BRIGHT


Long live<br />

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THE<br />

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EMERGING TECHNOLOGIES<br />

OPEN NEW DOORS<br />

VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY SEPTEMBER <strong>2024</strong><br />

FANCY COLOUR DIAMONDS<br />

IN THE SPOTLIGHT<br />

BRIDAL AND ENGAGEMENT<br />

JEWELLERY SHINES BRIGHT<br />

SEPTEMBER <strong>2024</strong><br />

Contents<br />

This Month<br />

Industry Facets<br />

15 Editorial<br />

16 Upfront<br />

18 News<br />

24<br />

27<br />

50<br />

10 YEARS AGO<br />

Time Machine: <strong>September</strong> 2014<br />

LEARN ABOUT GEMS<br />

Game-changing Gemmologists: XIII<br />

MY BENCH<br />

Hazel Oxborough<br />

28 FANCY COLOUR DIAMONDS<br />

Bidding for brilliance<br />

Since the closure of the Arygle Mine, fancy<br />

colour diamonds have enjoyed an explosion<br />

of popularity. How have high-profile<br />

auctions contributed to the buzz?<br />

Features<br />

28<br />

52<br />

SOAPBOX<br />

Gordon Simmonds<br />

FANCY COLOUR DIAMONDS<br />

High-profile auctions raising the stakes<br />

33<br />

39<br />

BRIDAL & ENGAGEMENT JEWELLERY<br />

The keys to successfully selling momentous jewellery<br />

CAD/CAM OPPORTUNITIES<br />

Emerging technology for jewellery retailers<br />

Examine the surge in<br />

usage of CAD/CAM<br />

services and tools<br />

among Australia's<br />

jewellers.<br />

42 INTERNATIONAL JEWELLERY FAIR<br />

Sydney on show<br />

39 CAD/CAM UPDATE<br />

Tech Power<br />

42<br />

Better Your Business<br />

44<br />

46<br />

47<br />

48<br />

INTERNATIONAL JEWELLERY FAIR <strong>2024</strong><br />

Walking the floor at the Sydney Fair<br />

BUSINESS STRATEGY<br />

Are you charging the right price? DAVE WAKEMAN offers helpful insights.<br />

SELLING<br />

RYAN ESTIS shows how you can escape a jewellery sales slump.<br />

MANAGEMENT<br />

Are you ready for what's ahead? DAVID BROWN details the importance of holiday sales.<br />

MARKETING & PR<br />

GEORGANNE BENDER & RICH KIZER conclude their retail makeover series.<br />

49<br />

LOGGED ON<br />

JEANNIE WALTERS continues her series on Artificial Intelligence in retail.<br />

33 BRIDAL & ENGAGEMENT JEWELLERY<br />

Together forever<br />

Bridal and engagement jewellery sales are<br />

critical to the success of many Australian<br />

retailers. For those just entering the arena,<br />

what are the keys to prosperity?<br />

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sourced diamonds from the Argyle and<br />

Ellendale mines in the Kimberleys of<br />

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well-known for producing the finest quality<br />

white and fancy colour diamonds, which<br />

are used to manufacture exquisite ranges<br />

of Australian jewellery. To learn more visit:<br />

ellendalediamonds.com.au<br />

Tech Takeover<br />

Gavel to Glory<br />

Together Forever<br />

<strong>September</strong> <strong>2024</strong> | 13


Editor’s Desk<br />

Two critical lessons learned from Sydney’s showdown<br />

Insanity is doing the same thing, over and over again, and expecting different results.<br />

SAMUEL ORD reveals two lessons from the competition between two jewellery fairs.<br />

We're all creatures of habit — people tend<br />

to follow familiar patterns and routines,<br />

which means human behaviour is often<br />

predictable.<br />

While predicting the specifics of the future is<br />

difficult, even the most basic understanding<br />

of human nature makes it clear that some<br />

things are unavoidable.<br />

Beginning in June, <strong>Jeweller</strong> set out to<br />

compare two jewellery trade shows set to<br />

unfold in Sydney on the same weekend.<br />

In August, the International <strong>Jeweller</strong>y Fair<br />

(Expertise Events) and the <strong>Jeweller</strong>y Industry<br />

Fair (<strong>Jeweller</strong>y Industry Network) competed<br />

for the loyalty of the broader industry.<br />

<strong>Jeweller</strong>y Industry Network willingly set its<br />

event to clash with the ‘traditional’ fair run<br />

by Expertise Events for more than 30 years.<br />

Before this year, two Australian jewellery<br />

fairs in the same city on the same days<br />

had never occurred before; albeit it was<br />

attempted by the <strong>Jeweller</strong>s Association<br />

of Australia in 2017. That attempt was a<br />

financial and public relations disaster.<br />

This was a critical factor in the decision<br />

to pursue the project. For the first time,<br />

suppliers were effectively being ‘forced’ to<br />

choose between the two, because of the<br />

deliberate strategy to create a clash.<br />

<strong>Jeweller</strong>'s analysis of the two fairs was<br />

complex. To provide an accurate like-for-like<br />

comparison, strict definitions were required<br />

to navigate the characteristics of each event,<br />

such as exhibitor lists, to cut through puffery<br />

like a hot knife through butter.<br />

The report aimed to provide retailers and<br />

suppliers with a clear understanding of what<br />

to expect from the two events if and when<br />

they had to choose between them.<br />

The scheduling conflict raised many<br />

questions the jewellery industry has<br />

previously been asked to answer. After the<br />

dust settled, two things became apparent.<br />

Collateral damage is inevitable when an<br />

industry is divided, and most people dislike<br />

being forced to choose between two options.<br />

These are facts of life.<br />

Caught in the crossfire<br />

‘Collateral damage’ is broadly used to<br />

describe any unwanted, unintended, or<br />

unforeseen fallout from an action or event.<br />

Ironically, it began as an abstract<br />

euphemism used by the military to<br />

take ‘the sting’ out of conflict analysis.<br />

I hope you’ll permit its use in this context<br />

because the competition between the two<br />

jewellery trade shows in Sydney had more<br />

than its fair share of unintended fallout.<br />

It began before the shows had finished<br />

when visitors hoping to travel between the<br />

fairs encountered issues with a bus service.<br />

People took to social media to air their<br />

grievances about these late, or possibly<br />

non-existent, buses, and the finger-pointing<br />

soon began.<br />

It was an easy matter for <strong>Jeweller</strong> to put to<br />

rest – the responsibility of organising the<br />

service fell on the <strong>Jeweller</strong>y Industry Fair.<br />

However, this simple explanation evaded<br />

some people. An industry supplier<br />

made unsubstantiated claims about the<br />

International <strong>Jeweller</strong>y Fair, reloaded, and<br />

took aim at Australia’s largest buying group!<br />

For seemingly no reason, these outlandish<br />

comments dragged Nationwide <strong>Jeweller</strong>s<br />

into a row it had no involvement with.<br />

The supplier also added the Independent<br />

<strong>Jeweller</strong>s Collective to his criticism.<br />

In the aftermath of the event, the supplier<br />

apologised to the Nationwide <strong>Jeweller</strong>s;<br />

however, he did not immediately address the<br />

impact of his outburst on Expertise Events.<br />

<strong>Jeweller</strong> can reveal that the supplier has<br />

now also apologised to managing director<br />

Gary Fitz-Roy, effectively ending the matter.<br />

The collateral damage didn’t end there!<br />

This week, the ‘owners’ of the Facebook<br />

group hosting these unsubstantiated claims<br />

issued a reminder to members to refrain<br />

from making defamatory comments.<br />

They noted past legal cases against<br />

Facebook administrators - another<br />

headache for another unintended target.<br />

I’m sure very few people would have<br />

expected this specific chain of events to<br />

transpire; however, it was predictable.<br />

Two jewellery trade shows competing on<br />

the same weekend in the same city is an<br />

industry divided.<br />

Fragmented resources, confusion, and a<br />

weakened voice damage industry unity.<br />

Collateral<br />

damage is<br />

inevitable when<br />

an industry is<br />

divided, and<br />

most people<br />

dislike being<br />

forced to choose<br />

between two<br />

options. These<br />

are facts of life.<br />

These factors can - as we have seen many<br />

times before - create a ‘powder keg’ of<br />

tension, and when it explodes, we can’t be<br />

surprised when uninvolved parties are found<br />

in the rubble.<br />

Don’t make me choose!<br />

Generally speaking, people dislike being<br />

forced to choose between two options. The<br />

pressure to make a decision, especially when<br />

both options are important or appealing,<br />

leads to stress and anxiety.<br />

People worry that they may make the wrong<br />

choice and face negative consequences. They<br />

fear missing out on potential opportunities<br />

because they made the wrong decision.<br />

These emotions manifested in Sydney. For<br />

suppliers, there’s the fear that suitable buyers<br />

may be walking the floor of the other fair.<br />

For retailers, the same fear was reversed.<br />

Perhaps there’s only time to visit one fair,<br />

and a better price or superior product is<br />

available with an exhibitor at the other show.<br />

Making a difficult decision can feel<br />

overwhelming, especially with high stakes.<br />

People resent being forced to take on<br />

this responsibility, especially if the choice<br />

may have significant implications for their<br />

business. The insult is doubled when the<br />

need to make a choice is entirely arbitrary;<br />

in this case, it seems it was.<br />

There’s no discernible reason as to why the<br />

dates had to clash. As we’ve asked many<br />

times before, who benefits from having two<br />

fairs occur in the same city at the same time?<br />

See you next year!<br />

Broadly speaking, for a trade show to be<br />

beneficial, it needs to enhance the industry<br />

rather than create division.<br />

The clashing schedules of these two jewellery<br />

fairs created many issues, and ‘innocent<br />

bystanders’ were inevitably caught in the<br />

crossfire. The specifics of the chaos were<br />

unpredictable; however, problems were easy<br />

to forecast — it’s human nature.<br />

With that said, there’s a question that's been<br />

asked many times that remains unanswered:<br />

Who benefits from this arrangement?<br />

As planning for next year’s fairs now begins,<br />

this question will be asked again.<br />

SAMUEL ORD<br />

EDITOR<br />

<strong>September</strong> <strong>2024</strong> | 15


Upfront<br />

Rewind: Best Bench Tip<br />

Stranger Things<br />

Weird, wacky and wonderful<br />

jewellery news from around the world<br />

Dog ate my diamond<br />

A woman in the US went viral on<br />

social media after revealing that an<br />

Australian Shepherd ate her diamond<br />

ring. Chloe Miller, from Florida, said that<br />

in March 2022, she was busy studying<br />

when she realised that her engagement<br />

ring had vanished from her bedside<br />

table. She realised that her dog, Charlie,<br />

was chewing on the ring and the<br />

diamond had come loose. In an interview<br />

with PEOPLE, she said that while the<br />

ring was damaged, the diamond was<br />

eventually recovered two days later,<br />

and the dog was unharmed.<br />

Sparkling celebration<br />

Letsile Tebogo, Botswana's first<br />

Olympic Games gold medal winner,<br />

has been presented with a diamond<br />

in recognition of his achievements.<br />

Debswana, a joint venture between the<br />

Botswana government and the De Beers<br />

Group, hosted an 'appreciation ceremony'<br />

for the country's athletes and coaches<br />

who attended the Olympic Games in<br />

Paris. Tebogo won the men's 200 meters<br />

at 19.46 seconds, with the government to<br />

declare a half-day holiday in his honour.<br />

Olympic team members each received a<br />

diamond pin and a cash payment.<br />

Man of mystery<br />

The UK's Serious Fraud Office has<br />

been asked to investigate the collapse<br />

of Vashi, a luxury diamond jewellery<br />

brand, and the disappearance of its<br />

founder, Vashi Domínguez. The company<br />

was founded in 2016 and gained<br />

international attention for its innovative<br />

approach. It was declared bankrupt in<br />

April 2023 after a court ruling forced it<br />

into liquidation. Domínguez attracted<br />

investment from high-profile backers,<br />

including high-profile billionaires.<br />

OCTOBER 2020<br />

“Plan your work. Get<br />

all the numbers and<br />

information on paper<br />

before you start a<br />

complex project and<br />

never assume details,<br />

where possible.”<br />

RYAN HADDRELL<br />

CLAYFIELD JEWELLERS<br />

HISTORIC GEMSTONE<br />

Eye of the Idol<br />

The Nassak Diamond, , sometimes<br />

known as the Eye of the Idol, is a large,<br />

43-carat diamond that originated as<br />

a larger stone in 15th century India.<br />

Discovered in the Golconda Mine of<br />

Kollur, the stone was initially cut in India<br />

and placed in the Trimbakeshwar Shiva<br />

Temple until 1817. The British East India<br />

Company seized and sold the diamond<br />

to British jewellers Rundell and Bridge<br />

in 1818. The Nassak Diamond was<br />

imported into the US in 1927, where<br />

Harry Winston acquired the diamond in<br />

1940 and recut it. The diamond was last<br />

sold at auction in 1970 and is held in a<br />

private museum in Lebanon.<br />

Innovation the way forward<br />

An analysis of Australia’s small<br />

retail businesses conducted by the<br />

Australian Retailers Association and the<br />

American Express Small Retail Index<br />

found that just 49 per cent are meeting<br />

or exceeding financial expectations.<br />

Retailers are proactively addressing<br />

issues, with 67 per cent reporting they<br />

are experimenting with innovative ways<br />

to capture new business. A further<br />

57 per cent said they have a renewed<br />

emphasis on loyalty programs, while<br />

30 per cent hoped to improve digital<br />

marketing and online engagement.<br />

Timeless Trends<br />

Sculptural metals are a jewellery<br />

trend that combines modern looks<br />

with timeless appeal. In recent weeks,<br />

runways at fashion shows around<br />

the world have been highlighted<br />

by abstract shapes in metals such<br />

as sterling silver, brass, and gold,<br />

which is ideal for creating a subtle<br />

statement without being overbearing.<br />

Campaign Watch<br />

Austria-based jewellery company<br />

Swarovski has named Ariana Grande<br />

as its new brand ambassador. The<br />

Grammy-winning singer and actress<br />

will star in the company’s upcoming<br />

holiday campaign. Grande’s<br />

partnership with Swarovski follows<br />

the release of her seventh studio<br />

album in March, and she said the<br />

brand’s emphasis on self-expression<br />

was admirable.<br />

Image: Shaun Leane<br />

Image: Swarovski<br />

VOICE OF THE AUSTRALIAN JEWELLERY INDUSTRY<br />

Published by Befindan Media Pty Ltd<br />

Locked Bag 26, South Melbourne, VIC 3205 AUSTRALIA | ABN 66 638 077 648 | Phone: +61 3 9696 7200 | Subscriptions & Enquiries: info@jewellermagazine.com<br />

Publisher Angela Han angela.han@jewellermagazine.com • Editor Samuel Ord samuel.ord@jewellermagazine.com • Advertising Toli Podolak toli.podolak@jewellermagazine.com<br />

Production Prince Bisenio art@befindanmedia.com • Digital Coordinator Riza Buliag riza@jewellermagazine.com • Accounts Paul Blewitt finance@befindanmedia.com<br />

Copyright All material appearing in <strong>Jeweller</strong> is subject to copyright. Reproduction in whole or in part is strictly forbidden without prior written consent of the publisher. Befindan Media Pty Ltd<br />

strives to report accurately and fairly and it is our policy to correct significant errors of fact and misleading statements in the next available issue. All statements made, although based on information<br />

believed to be reliable and accurate at the time, cannot be guaranteed and no fault or liability can be accepted for error or omission. Any comment relating to subjective opinions should be addressed to<br />

the editor. Advertising The publisher reserves the right to omit or alter any advertisement to comply with Australian law and the advertiser agrees to indemnify the publisher for all damages or liabilities<br />

arising from the published material.


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International<br />

<strong>Jeweller</strong>y Fair <strong>2024</strong><br />

Sydney skills showcase: Young jewellers welcome exciting new challenge in the spotlight<br />

PARTICIPATING STUDENTS<br />

ROUND ONE<br />

Shannon Elliott<br />

Imogen Richards<br />

Molly Katharine Zovaro<br />

Lachlan George<br />

Jaimen Hamer<br />

Solomon Gates<br />

ROUND TWO<br />

Rachael Behan<br />

Max Butera<br />

Alyssa Kulyk<br />

Matthias Simon<br />

Ravija Parekh<br />

ROUND THREE<br />

FINALISTS<br />

1. Solomon Gates<br />

2. Lachlan George<br />

3. Rachael Behan<br />

Matthias Simon<br />

Max Butera<br />

Jaimen Hamer<br />

The International <strong>Jeweller</strong>y Fair in Sydney was<br />

highlighted by the debut of the Benchies Mystery Box<br />

Challenge, with emerging artisans testing their skills<br />

in front of onlookers against a deadline.<br />

Across three days, 11 students from Design<br />

Centre Enmore TAFE NSW participated in a<br />

mystery box challenge, creating a piece of<br />

jewellery using a random assortment<br />

of materials.<br />

It was a challenge reminiscent of television<br />

shows such as Master Chef, The Great British<br />

Bake Off, or Hell’s Kitchen.<br />

The ominous red countdown timer was the<br />

‘cherry on top’, adding palpable tension to the<br />

scene as the jewellers frantically checked over<br />

their shoulders as less and less time remained.<br />

With $5,000 in prize money up for grabs, TAFE<br />

NSW head teacher of jewellery design Gina Kind<br />

said she was rapt with the result.<br />

“There are many ways we could expand the<br />

competition over the next few years," Kind said.<br />

"There have already been discussions about<br />

introducing an ‘open’ category for established<br />

jewellers, as one idea.<br />

“I’m impressed with how hard each competitor<br />

worked while they were in the spotlight. The<br />

students have performed beyond what was<br />

expected of them.”<br />

After three busy days of work on the bench, the<br />

eventual winner was Solomon Gates, a third-year<br />

apprentice with Saffo <strong>Jeweller</strong>y. Gates collected<br />

$2,500 in prize money.<br />

Runner-up was Lachlan George, a second-year<br />

apprentice from Evan’s Manufacturing <strong>Jeweller</strong>y.<br />

Joining these two on the podium was Rachael<br />

Behan, a third-year apprentice from The Little<br />

Workshop, finishing in third place.<br />

It’s a promotion that was arranged with little<br />

notice and yet far exceeded the expectations of<br />

fair organisers Expertise Events.<br />

“We’ve had a great deal of positive feedback<br />

about the Mystery Box challenge," managing<br />

director Gary Fitz-Roy told <strong>Jeweller</strong>.<br />

"Many retailers approached me at the fair to say<br />

they thought the concept was fantastic.<br />

“A few people approached me to say that they<br />

thought seeing a spotlight on young jewellers<br />

was great. It was important to them that<br />

someone was doing something practical to help<br />

young people make a name for themselves as<br />

they enter the industry.”<br />

Kind echoed Fitz-Roy's sentiments and said it<br />

was an important experience for the broader<br />

jewellery industry to learn from.<br />

“It’s a good exercise for the industry to see<br />

that people are still being trained in jewellery<br />

manufacturing and that hand-making skills are<br />

alive and well. We’re appreciative of the support<br />

from everyone around the event,” she added.<br />

“The biggest positive for me has been how the<br />

competitors have supported each other. It might<br />

be a competition, and there’s money on the line,<br />

yet they’ve cheered each other on and taken pride<br />

in each piece of work.”<br />

18 | <strong>September</strong> <strong>2024</strong>


Three buying groups under the one roof<br />

Following the conclusion of the International <strong>Jeweller</strong>y Fair in Sydney, the<br />

impact of having Australia’s three major buying groups reunited under<br />

one roof has been highlighted extensively.<br />

Australasia’s largest group, Nationwide <strong>Jeweller</strong>s, was well represented,<br />

as was the emerging Independent <strong>Jeweller</strong>s Collective (IJC), which recently<br />

reached an important milestone.<br />

The return of Showcase <strong>Jeweller</strong>s to the Sydney Fair generated significant<br />

excitement in the lead-up to the event. Expertise Events organiser Gary<br />

Fitz-Roy said the feedback following the fair had reflected this enthusiasm.<br />

“We’ve received a great deal of feedback expressing positivity about seeing<br />

the three buying groups on the show floor together,” he told <strong>Jeweller</strong>.<br />

“In these trying times, it was great to hear that seeing the three buying<br />

groups together was viewed as a positive outcome for the broader<br />

jewellery industry, presenting a united front.”<br />

In the immediate aftermath, IJC CEO Joshua Zarb was over the moon<br />

with how the weekend unfolded in Sydney.<br />

“We absolutely loved the Sydney Fair. I didn’t even have a chance to walk the<br />

show floor on the final day; we had so many people at our stand,” he said.<br />

“At our conference, we launched five new initiatives for our buying group<br />

members, and it was a great opportunity to run them through the changes.<br />

We are super pumped with how they’ve all been received, and I’m very<br />

excited for the next 12 months.”<br />

When asked about the reception to having all three buying groups<br />

united under one roof, Zarb said he thought it was terrific.<br />

“I think it’s great to have all three buying groups under one roof together.<br />

We’ve got a strong working relationship with everyone, and it was<br />

a great thing to see for the broader industry,” he explained.<br />

After the Australian <strong>Jeweller</strong>y Fair in March, Showcase <strong>Jeweller</strong>s<br />

confirmed it would be participating in the Sydney Fair. Managing director<br />

Anthony Enriques echoed Zarb's sentiments and said that it was a<br />

harmonious occasion.<br />

“I thought it was an excellent event. We had the chance to speak<br />

with some happy suppliers and spend one-on-one time with our<br />

members, which is important,” he said.<br />

“In the future, we will do more to incentivise our members to participate<br />

in these kinds of events because that kind of collaborative environment<br />

is essential, particularly when times are tough.”<br />

He added: “I think having the three buying groups together really adds<br />

to the prestige of the events, and it’s encouraged us to look for ways to<br />

improve on future shows.”<br />

Nationwide <strong>Jeweller</strong>s hosted its annual members and suppliers awards<br />

night on Saturday evening.<br />

General manager Glen Pocklington oversaw the buying group’s activities<br />

across the weekend and said that he was pleased with the outcome.<br />

“Speaking with suppliers, I would say that around 90 per cent of them<br />

have been busy filling orders and exploring fresh leads and that they’re<br />

happy with how the fair has unfolded given the economic climate,” he said.<br />

“We had more registered members this year than we did last year,<br />

and our traditional morning briefing on the opening day was well<br />

attended, which was great to see.”<br />

As part of the Global <strong>Jeweller</strong>s Network, Nationwide <strong>Jeweller</strong>s hosted<br />

a delegation of buyers from the US-based Independent <strong>Jeweller</strong>s<br />

Organisation (IJO) at the Sydney Fair.<br />

It didn’t take long for uniquely Australian jewellery to capture the<br />

attention of the visitors.<br />

“They were super thrilled with how the weekend was organised and<br />

had a great time. It was good to see them get among the action and<br />

place some orders for their stores,” Pocklington added.<br />

“It was a good initial foray into collaboration between the groups around<br />

major industry gatherings.”<br />

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collections for<br />

a modern style<br />

christianmarolho.com<br />

christian@christianmarolho.com<br />

+61 482 725 014


News<br />

<strong>2024</strong> Australian Opal Exhibition:<br />

National gemstone proudly on display<br />

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The latest edition of the Australian Opal Exhibition was one to remember,<br />

unfolding in Queensland over two days.<br />

Visitors and exhibitors returned to Southport Sharks for a second time<br />

after the venue was first used for the 20th anniversary edition of the show.<br />

Event coordinator Maxine O’Brien said attendance was slightly down<br />

compared with the previous year; however, given the current economic<br />

climate, that was to be expected.<br />

“The feedback has been really positive so far. I always take rebookings<br />

as the most important type of feedback, and they’ve been good. Everyone<br />

seems to like the new venue; it’s a bit more relaxed,” she told <strong>Jeweller</strong>.<br />

“There were quite a few new retail buyers present, which was great<br />

to see. The dinner was great, it wasn’t too formal, so there was a big<br />

emphasis on mingling and chatting.”<br />

She added: “There were some fantastic displays from our exhibitors,<br />

and we also had a showcase of three winning pieces from the recent<br />

Australian Opal Awards. It was a great opportunity to show the<br />

amazing things jewellers are capable of when working with opal.”<br />

Australian opal has been a hot topic recently, generating significant<br />

interest in local and abroad markets.<br />

That passion was reflected at the recent Australian Opal Awards in<br />

Lightning Ridge, which more than 250 people attended.<br />

O’Brien believes the industry is continuing to move from strength to<br />

strength and added that there was one clear highlight from this<br />

year's show.<br />

“I think it’s great when new people come along,” she said.<br />

“I think they’re often pleasantly surprised at what they see, and<br />

we love to hear that they’ve enjoyed themselves. Over the years,<br />

seeing new faces become regular visitors is a big thrill.”<br />

The Australian Opal Exhibition will return to Southport Sharks in 2025.


News<br />

Case closed: Supplier apologises for social media comments targeting major buying group<br />

An Australian jewellery industry supplier has<br />

apologised after an unexpected outburst<br />

targeting the country’s largest buying group.<br />

<strong>Jeweller</strong> recently reported on startling<br />

comments by Richard Morgan, a director and<br />

national sales manager of Keda Konsulting.<br />

He suggested that Nationwide <strong>Jeweller</strong>s had<br />

“bastardised the other fair” in reference to the<br />

International <strong>Jeweller</strong>y Fair.<br />

Keda Konsulting was an exhibitor at the rival<br />

<strong>Jeweller</strong>y Industry Fair running simultaneously<br />

on the same weekend in Sydney.<br />

The <strong>Jeweller</strong>y Industry Fair is organised by the<br />

<strong>Jeweller</strong>y Industry Network.<br />

Morgan's comments appeared on the <strong>Jeweller</strong>s<br />

Co. (formally Young <strong>Jeweller</strong>s Group) Facebook<br />

page, which was established in 2011 as an<br />

industry forum.<br />

<strong>Jeweller</strong>s Co. is owned by Brett Low and<br />

Ewen Ryley, two of the founders of the<br />

<strong>Jeweller</strong>y Industry Network.<br />

When Morgan’s post was first published by<br />

<strong>Jeweller</strong>s Co., Morgan was contacted for<br />

comment but he did not reply; however,<br />

the post was then deleted.<br />

Sources have since confirmed that he issued an<br />

apology to Nationwide <strong>Jeweller</strong>s yesterday.<br />

<strong>Jeweller</strong> contacted Morgan about his apology;<br />

however, he did not respond.<br />

Nationwide <strong>Jeweller</strong>s general manager Glen<br />

Pocklington did not wish to address Morgan’s<br />

comments directly; however, he could discuss<br />

the buying group’s purpose at the Sydney Fair.<br />

“One of our primary goals is to support the<br />

jewellery industry by helping to bring together<br />

the largest number of retailers and suppliers<br />

from our group during the peak buying window<br />

of the year,” he told <strong>Jeweller</strong>.<br />

“To that end, we attend the International<br />

<strong>Jeweller</strong>y Fair each year in Sydney, supporting<br />

around 80 of our preferred suppliers who also<br />

exhibit there.”<br />

He added: “This year’s fair was a great success;<br />

we’ve received overwhelmingly positive feedback<br />

from both our members and preferred suppliers<br />

despite the challenging economic environment.”<br />

Morgan’s attack on Nationwide stemmed from<br />

an earlier post on <strong>Jeweller</strong>s Co. that targeted the<br />

International <strong>Jeweller</strong>y Fair.<br />

He posted an unsubstantiated report that a<br />

shuttle bus service between the two shows was<br />

interfered with.<br />

“Someone mentioned to me that someone at<br />

the other fair [IJF] was stopping the buses from<br />

leaving or attempting to,” Morgan’s post read.<br />

He added: "As a supplier, this damages the<br />

businesses of 50 to 60+ plus suppliers. Can<br />

anyone confirm this, please?”<br />

Other <strong>Jeweller</strong>s Co. members challenged<br />

his comments, and Morgan did not offer an<br />

explanation about his allegations when<br />

contacted last week.<br />

Following news that he has issued an apology<br />

to Nationwide - Australia’s largest retail buying<br />

group - <strong>Jeweller</strong> asked Morgan if he had, or<br />

intended to, apologise to Expertise Events<br />

given the severity of the unsubstantiated<br />

allegation. At the time of publication, Morgan<br />

had not responded.<br />

When contacted Expertise Events managing<br />

director Gary Fitz-Roy denied any wrongdoing<br />

and suggested that any confusion over the<br />

transport between the two events was caused by<br />

the <strong>Jeweller</strong>y Industry Network.<br />

“It is divisive and unhelpful when the economy is<br />

struggling and times are tough for the industry.<br />

What is the benefit of the second show if all it is<br />

doing is creating division and resentment among<br />

jewellers and wholesalers?” Fitz-Roy said.<br />

He confirmed that Morgan has not<br />

apologised to Expertise Events over the<br />

unsubstantiated claims.


News<br />

Fireworks: Nationwide <strong>Jeweller</strong>s lights up Sydney with annual members awards night<br />

AWARD WINNERS<br />

SUPPLIER OF THE YEAR – NOMINEES • AUSTRALIA<br />

<strong>Jeweller</strong>y Centre [WINNER]<br />

Duraflex Group Australia<br />

Golden Mile<br />

Mark McAskill<br />

Orange River Diamonds<br />

SUPPLIER OF THE YEAR – NOMINEES • NEW ZEALAND<br />

Regal Castings [WINNER]<br />

Peka<br />

Worth & Douglas<br />

Nationwide <strong>Jeweller</strong>s headed to the W Sydney for the annual Members and<br />

Suppliers Awards dinner, reflecting on accomplishments over the past year<br />

and planning for the future. Against the backdrop of the <strong>2024</strong> International<br />

<strong>Jeweller</strong>y Fair – and a fireworks display following the dinner – the evening<br />

was a relaxed opportunity for members and suppliers to network.<br />

The coveted Nathan Cameron Perpetual Trophy winner was secured by<br />

Pamela Brown from Desma Designs. As the Apprentice of the Year Award<br />

winner, she received $5,000 in prize money to spend on tools and equipment<br />

to further her career. The award was presented by Judy Cameron of<br />

Cameron’s Fine <strong>Jeweller</strong>s in Swan Hill. The Promising Young Talent award<br />

winner was Ezekiel Torrents from Haab <strong>Jeweller</strong>s.<br />

In a surprise to very few, the winner of Australia’s Supplier of the Year was<br />

once again <strong>Jeweller</strong>y Centre, while Regal Castings picked up the award for<br />

New Zealand.<br />

MEMBER OF THE YEAR – NOMINEES • AUSTRALIA<br />

Santos Customs <strong>Jeweller</strong>s [WINNER]<br />

JC & C Manufacturing <strong>Jeweller</strong>s<br />

Ritchies <strong>Jeweller</strong>s<br />

MEMBER OF THE YEAR – NOMINEES • NEW ZEALAND<br />

Brent Weatherall <strong>Jeweller</strong>s [WINNER]<br />

Kings & Queens<br />

Knights the <strong>Jeweller</strong>s<br />

ADDITIONAL AWARD WINNERS<br />

APPRENTICE OF THE YEAR – Pamela Brown from Desma Designs<br />

PROMISING YOUNG TALENT – Ezekiel Torrents from Haab <strong>Jeweller</strong>s<br />

BEST NEW SUPPLIER (AUSTRALIA) – Soklich & Co<br />

BEST NEW SUPPLIER (NEW ZEALAND) – Web Wonks<br />

BEST NEW PRODUCT (AUSTRALIA) – Mark McAskill<br />

BEST NEW PRODUCT (NEW ZEALAND) – Worth & Douglas<br />

Brent Weatherall <strong>Jeweller</strong>s was the New Zealand Member of the Year,<br />

and Santos Customs <strong>Jeweller</strong>s was the Australian Member of the Year.<br />

Owner Romel Santos delivered a heartfelt thank you and expressed<br />

gratitude to his fellow retailers for the advice and support offered to<br />

his business since joining.<br />

Membership manager Erin Keller said highlighting the efforts of<br />

members with the awards night was something the group eagerly<br />

anticipated each year.<br />

“Handing Romel (Santos) the award was great. He’s an exceptional<br />

person, a fantastic member of our group, and a very deserving winner,”<br />

she told <strong>Jeweller</strong>.<br />

“He was so grateful to receive the award, and I had a few nominees for<br />

various other awards come up and thank me for even being considered.<br />

They feel like they’re being a little cheesy or cliched to say they’re happy<br />

just being recognised, but that’s what we love to hear.”<br />

Nationwide experimented with a new approach this year, shifting the event<br />

to the first night of the International <strong>Jeweller</strong>y Fair instead of the second.<br />

Keller explained that it was a delicate balance to strike, weighing<br />

responsibilities around the fair and accounting for travel and business<br />

commitments, and said the group would review feedback when planning<br />

for next year.<br />

“We’ve found that later in the weekend, people are already planning to<br />

head back to their stores, and some are just tired after a busy few days at<br />

the fair, so we thought we’d try something different,” she said.<br />

“We’ve had some good constructive feedback. People have told me that<br />

it was the best awards night they’ve attended so far, and other people<br />

said they had a great time and that it was well organised. We will take<br />

everything we’ve heard into consideration for next year.”<br />

The event also acknowledged members who had celebrated 10, 15, 20, 25,<br />

and 30-year milestones since joining the group.


News<br />

Industry mourning: BECKS’ Greville<br />

Ingham unexpectedly passes away<br />

The Australian jewellery industry was left stunned after word spread that<br />

BECKS managing director Greville Ingham passed away.<br />

Educated at the University of South Australia in the 1990s, Ingham worked<br />

at the Greengate Group for 13 years, before returning to the local jewellery<br />

trade in late 2020.<br />

Ingham joined Peter W Beck as national sales manager and held<br />

that role until April 2022.<br />

He was appointed managing director, and oversaw an ambitious major<br />

rebranding to BECKS following the passing of his mother, Ann Beck,<br />

in <strong>September</strong> 2021 and his stepfather, Peter Beck, in December<br />

of the same year.<br />

In an article written by Ingham for <strong>Jeweller</strong> in July 2022, he discussed<br />

his return to the company and plans for the future.<br />

“I had returned to the business in November of 2020 as part of a plan to<br />

learn different aspects of the business over a few years, developing into<br />

a ‘general manager’ style role with help from my two sisters, Jenni and<br />

Carol, who are already very knowledgeable in their areas of the trade,”<br />

he explained.<br />

He added: “Don’t forget your roots. Don’t forget that is what the business is<br />

founded on. Identify those legacy foundational attributes and protect them!”<br />

In an article published a month earlier, Ingham discussed the rebranding<br />

project in-depth, again emphasising the significance of family.<br />

"Our transition to BECKS reflects upon the fact that we are now in all<br />

ways truly the manifestation of a family business and we felt that should<br />

be reflected in our brand."<br />

The company released a statement expressing gratitude for the ongoing<br />

support of staff, customers, and suppliers.<br />

"Carol and Jenni Beck are committed to ensuring the continued success<br />

of the business into the future, and deeply appreciate the ongoing<br />

support of our valued customers and suppliers," the statement reads.<br />

"We extend our heartfelt gratitude to our dedicated staff for their<br />

unwavering support and efforts during this difficult time and in<br />

the days ahead."<br />

"Our thoughts are with Greville’s wife, children, and extended family<br />

and friends. He will be profoundly missed."<br />

The announcement was met with an outpouring of support from across<br />

the industry. Ingham took great pride in his work with the Australian<br />

Army Reserves, and was a frequent contributor and ardent supporter<br />

of this publication.


10 Years Ago<br />

Time Machine: <strong>September</strong> 2014<br />

A snapshot of the industry events making headlines this time 10 years ago in <strong>Jeweller</strong>.<br />

Historic Headlines<br />

Ancient Roman jewellery found in city centre<br />

Nationwide announces third Diamond Safari<br />

Tiffany & Co sales on the rise again<br />

Pandora jewellery marks 9 years of cancer support<br />

GIA makes diamond testing more affordable<br />

ACCC supports jewellers’ fight<br />

against landlords<br />

A proposed national database designed to assist<br />

jewellers in negotiating rental costs is one<br />

step closer to realisation after the consumer<br />

watchdog announced its preliminary approval.<br />

The Australian Competition and Consumer<br />

Commission (ACCC) has issued a draft<br />

determination that proposes to authorise<br />

the <strong>Jeweller</strong>s Association of Australia (JAA)<br />

to develop and implement a national retail<br />

tenancy database.<br />

JAA Code of Conduct chair Colin Pocklington<br />

emphasised the “significant benefit” the<br />

database presented to jewellers.<br />

“Access to the rental database will help<br />

jewellers determine the true market rental<br />

of shops, potentially saving them many thousands<br />

of dollars per year,” he said.<br />

Industry reacts to diamond<br />

grading concerns<br />

The recent decision by diamond trading platform<br />

RapNet to stop listing all European Gemological<br />

Laboratories (EGL) grading reports has sparked<br />

a slew of reactions from the industry – both<br />

locally and internationally.<br />

The <strong>Jeweller</strong>s Association of Australia (JAA)<br />

has announced it is working with the National<br />

Industry Advisory Council to develop a list of<br />

“suitable” domestic and international diamond<br />

grading laboratories. JAA Code of Conduct chair<br />

Colin Pocklington indicated that the JAA had<br />

always intended to develop the diamond grading<br />

guideline but that it was appropriate to address<br />

the issue now given RapNet’s decision.<br />

In order to remain compliant with the JAA Code<br />

of Conduct, retailers must issue customers<br />

with grading certificates from “reputable”<br />

laboratories for any diamond-related purchase<br />

weighing 1-carat or more.<br />

<strong>September</strong> 2014<br />

ON THE COVER PASTICHE<br />

Editor’s Desk<br />

Positive change starting at <strong>Jeweller</strong>s Association<br />

"Therefore, Hunter joins the association at a<br />

time when many initiatives have been set in<br />

train; however, it will be her job to ensure they<br />

come to fruition.<br />

The fact that she will now not be dealing with a<br />

13-member board should surely make the tasks<br />

at hand a little easier. I hope she is successful<br />

and I also hope she doesn’t stay in the position<br />

too long!<br />

You see, I don’t believe people heading industry<br />

bodies should be in the position for much<br />

longer than three years. That timeframe allows<br />

them to get settled and then to push through<br />

the required changes that can often cause<br />

discontent among a vocal minority."<br />

Soapbox<br />

Outsmarting the smartphone<br />

"The big squeeze is biting in. We see more<br />

closures of businesses and we have seen<br />

the fall of long-established retail outlets.<br />

I know a lot of fellow retailers are feeling<br />

it. American online stores are relentless.<br />

Prices seem too good to be true and, for<br />

the most part, they actually are. I have seen<br />

engagement rings featuring diamonds with<br />

more fluorescence than a 1980s high school<br />

dance."<br />

Michael Grimaldi,<br />

Michael’s Showcase <strong>Jeweller</strong>s<br />

STILL RELEVANT 10 YEARS ON<br />

And when it comes to retail sales one of<br />

the worst ways to start a conversation<br />

is with, “May I help you?” It’s dreaded by<br />

sales training experts the world over<br />

yet almost all retail staff open a sales<br />

opportunity with it all day, every day.<br />

Sydney jewellery fair sets records<br />

After two days of trading, the overall<br />

consensus regarding the Sydney jewellery<br />

fair has been one of positivity with a number<br />

of exhibitors stating they have experienced<br />

“record” sales.<br />

While Monday morning was notably quieter than<br />

opening day of the JAA International <strong>Jeweller</strong>y<br />

Fair on Sunday, it didn’t appear to take long for<br />

the show floor to start filling with visitors.<br />

Many exhibitors reported greater success on<br />

the second day’s trading than the first day.<br />

Timesupply managing director Ken Abbott<br />

explained that he was surprised by the strong<br />

results achieved on Monday – especially<br />

considering the success the supplier<br />

experienced on the previous day in which he<br />

says he received the first order within two<br />

minutes of the fair opening.<br />

Showcase <strong>Jeweller</strong>s acquires<br />

Aussie diamond brand<br />

Passion8, the well-known diamond brand<br />

previously owned by Miller Diamonds, has<br />

been acquired by Showcase <strong>Jeweller</strong>s,<br />

which could cause a few issues for the local<br />

jewellery industry.<br />

READ ALL HEADLINES IN FULL ON<br />

JEWELLERMAGAZINE.COM<br />

George Proszkowiec, chairman JIMACO – the<br />

operating company for Showcase – told <strong>Jeweller</strong><br />

that the deal had been finalised with the Miller<br />

Diamonds’ liquidator on Friday 29 August, two<br />

days before the Sydney fair.<br />

Proszkowiec said the decision to acquire Passion8<br />

was largely driven by the fact that it was stocked<br />

by a large number of Showcase members.<br />

Carson Webb, acting Showcase CEO, said, “Our<br />

members are fine jewellery retailers and we’re in<br />

the fine jewellery and diamond business. This is<br />

a wonderful opportunity to venture forward with<br />

an amazing brand that has amazing potential for<br />

our members.”<br />

24 | <strong>September</strong> <strong>2024</strong>


We Are Here For You


REVIEW<br />

Gems<br />

Gemmologists who changed the game:<br />

Andrew Cody<br />

Andrew Cody was a formidable figure in<br />

the gemstone industry. His contributions<br />

significantly progressed the Australian<br />

opal industry.<br />

Cody had an unrivalled passion for Australian<br />

opals and dedicated most of his life to promoting<br />

and celebrating this unique gemstone.<br />

His love for collecting gemstones and minerals<br />

started from an early age, and a school<br />

excursion to Coober Pedy accelerated<br />

his love for opals.<br />

In 1964, his interests turned to cutting opal, and<br />

he went on to complete studies in Valuations at<br />

the Royal Melbourne Institute of Technology.<br />

His passion and understanding of the market<br />

provided the basis for his business, Cody Opal,<br />

which he founded in 1971 at the age of 20.<br />

The business initially specialised in opal<br />

wholesale and gemstone cutting before later<br />

expanding into the international export of opal<br />

to Japan, Europe, and the US.<br />

In time, the business became a family affair,<br />

with his brother, Damien Cody, joining Andrew.<br />

In 1991, Andrew wrote the book ‘Australian<br />

Precious Opal—A Guide Book for Professionals’.<br />

It was published in English and Japanese and<br />

remains an important resource for industry<br />

professionals and gemmologists alike.<br />

He assisted Australia Post with an awardwinning<br />

series of stamps commemorating<br />

the proclamation, designed the official<br />

National Gemstone emblem, and developed<br />

the official opal nomenclature.<br />

In 2000, Cody co-founded The National<br />

Opal Collection, which has its head office in<br />

Melbourne and showrooms in Melbourne<br />

and Sydney.<br />

The business includes museum displays, retail<br />

sales, and wholesale exports to the international<br />

gemstone industry. It is now recognised around<br />

the world as the primary source of opal.<br />

Andrew became an Associate Research<br />

Officer at the Australian Museum, contributing<br />

important research into the genesis of opal<br />

formation.<br />

Andrew Cody: 1951 - 2022. With a deep passion for<br />

Australian opal, Andrew Cody dedicated most of his life to<br />

promoting and celebrating the national gemstone.<br />

His extensive collections of opals and opalised<br />

fossil specimens have also been exhibited at<br />

the museum.<br />

In 2001, Cody Opal was awarded a Governor<br />

of Victoria Export Award for Minerals and<br />

was a finalist in the Australian Exporter of<br />

the Year Awards.<br />

In 2010, Cody and his brother Damien published<br />

a second book, ‘The Opal Story,’ which was<br />

translated into six languages.<br />

Cody was involved in championing the<br />

declaration of opal as Australia's national<br />

gemstone, which became official in 1993.<br />

In 2018, Andrew Cody produced a limited release<br />

of sixty opal master sets. Each set contains 216<br />

opal samples from deposits worldwide to assist<br />

with identifying, classifying, and grading opal.<br />

Major laboratories and gemmological institutes<br />

availed themselves of this resource, and the<br />

release was quickly over-subscribed.<br />

Cody Opal Australia received a JNA Honouree<br />

award for Industry Innovation of the Year for<br />

this initiative.<br />

In addition to running his successful businesses,<br />

Cody served the gemstone industry in various<br />

roles.<br />

He was president of the Australian Gem<br />

Industry Association, chairman of the Australian<br />

<strong>Jeweller</strong>y and Gemstone Industry Council,<br />

president of the International Colored Gemstone<br />

Association, and a member of Thailand's<br />

JTC-AIGS Leaders Council.<br />

He was also a special projects officer of the<br />

World <strong>Jeweller</strong>y Confederation (CIBJO).<br />

Cody received honorary fellowships from The<br />

Australian Gemmological Association and the<br />

Gemmological Association of Great Britain for<br />

his vast contributions to the gemstone industry<br />

and study of gemmology.<br />

In addition to these official roles, he was a<br />

regular speaker at national and international<br />

forums.<br />

He also served as an expert in the opal<br />

industry, appearing in countless articles and<br />

media appearances.<br />

Cody passed away in 2022 after a brave<br />

battle with a rare form of blood cancer.<br />

His legacy is carried forward through his<br />

businesses, Cody Opal and The National<br />

Opal Collection, which remain significant<br />

exporters of Australian opal worldwide.<br />

Through Cody's efforts, the Australian opal is<br />

held in high regard on international markets<br />

and has become recognised as the National<br />

Gemstone of Australia.<br />

He has left an immeasurable impact on the<br />

Australian opal and gemstone industries.<br />

Teaghan Hall is a fine art graduate with a<br />

specialised interest in antique jewellery. She works<br />

in the antique jewellery trade and has written for<br />

various industry publications while studying with<br />

the Gemmological Association of Australia.<br />

For more information on gems and gemmology,<br />

visit www.gem.org.au<br />

<strong>September</strong> <strong>2024</strong> | 27


FEATURE<br />

Fancy Colour Diamonds<br />

THE INFIORATA PENDANT<br />

NINA'S JEWELLERY<br />

THE ARGYLE<br />

BALLERINA PIN<br />

LJ WEST<br />

ARGYLE ALPHA<br />

GLAJZ<br />

ARGYLE PINK DIAMOND RINGS<br />

PINK KIMBERLEY<br />

SAMUEL ORD considers the impact<br />

high-profile auctions have on the<br />

popularity of fancy colour diamonds.


GAVEL TO GLORY | Fancy Colour Diamonds<br />

THE EDEN ROSE<br />

CHRISTIE'S IN NEW YORK<br />

BLUE DIAMOND &<br />

PINK DIAMOND RING<br />

HARRY WINSTON<br />

F ancy colour diamonds have<br />

long been lauded as something<br />

of a ‘complete package’ for<br />

jewellery retailers and consumers.<br />

The auction of these diamonds commands<br />

significant international media coverage.<br />

How does that impact consumers'<br />

perceptions of these diamonds and the<br />

jewellery they are set in?<br />

Exceedingly rare, uniquely beautiful,<br />

and shrouded in mystery, these<br />

diamonds have enjoyed an enduring<br />

association with luxury and exclusivity.<br />

Available in nearly all the colours of<br />

the rainbow, from deep blues to vibrant<br />

pinks and intense yellows, there’s a stone<br />

to appeal to the tastes of all jewellery<br />

designers and consumers.<br />

It should be said, of course, that these<br />

auctions feature a different type of jewellery<br />

than you'd find, even in a high-end metropolitan<br />

jewellery store.<br />

With that said, the question is, do these auctions<br />

increase interest among consumers in the less<br />

‘exceptional’ yet still dazzling ‘everyday’ varieties<br />

of fancy colour diamond jewellery?<br />

Indeed, the closure of the Argyle Diamond<br />

Mine in 2020 ignited a frenzy of fancy colour<br />

diamond jewellery purchasing.<br />

Despite the impacts of a global pandemic, a<br />

wounded economy, and an embattled diamond<br />

industry in the following years, the passion for<br />

these stones remains strong.<br />

On a recent trip to a jewellery fair in Hong Kong,<br />

I had an interesting conversation with an industry<br />

supplier about this enduring popularity.<br />

While discussing the litany of issues the diamond<br />

industry faces, I asked Shubham Maheshwari of<br />

Kunming Diamonds if the fancy colour diamond<br />

trade was experiencing any associated ‘blowback’.<br />

To my surprise, he told me the category has been<br />

largely sheltered from these issues.<br />

Maheshwari explained that fancy colour diamond<br />

collectors are unusually passionate about these<br />

stones and eager to learn all they can.<br />

It’s easy logic to follow - most people purchase<br />

diamond jewellery at one stage or another in<br />

their lives; however, the specific interest these<br />

consumers have in diamonds is often limited to<br />

that occasion.<br />

Consider it like this: many people undertake<br />

extensive research before purchasing a diamond<br />

engagement ring; however, many may not<br />

purchase diamond jewellery again. After the<br />

purchase, the interest is subdued.<br />

Fancy colour diamond jewellery, on the other<br />

hand, is a far more niche purchase. Maheshwari<br />

made another interesting point – that highprofile<br />

auctions drive the enthusiasm behind<br />

these stones.<br />

“Auctions are still helping the industry<br />

significantly. They generate a lot of excitement<br />

and keep the enthusiasm for these pieces alive,”<br />

he explains.<br />

Food for thought<br />

It’s an interesting proposition – could some<br />

degree of the popularity of these rare and<br />

expensive diamonds be attributed to high-profile<br />

auctions and the media buzz they generate?<br />

In many ways, it’s an easy case to make. Fancy<br />

colour diamonds are rare and their appearance<br />

at luxury auctions emphasises their exclusivity.<br />

<strong>September</strong> <strong>2024</strong> | 29


GAVEL TO GLORY | Fancy Colour Diamonds<br />

A closer examination reveals that, in terms<br />

of marketing, it’s something of a ‘doubleedged<br />

sword’.<br />

Auctions are usually reserved for unique<br />

luxury items, attracting buyers searching for<br />

something ‘special’.<br />

When these auctions ‘break records’<br />

– regardless of how overly specific the<br />

benchmarks might be - this could be perceived<br />

as validation of value, which in turn improves<br />

consumer confidence in the category.<br />

As mentioned, auctions involving fancy colour<br />

diamonds frequently attract media attention<br />

coverage, particularly with the attendance of<br />

celebrities and persons of public note.<br />

This exposure could spark interest among<br />

consumers who watch these events closely, and<br />

even more so among those easily influenced by<br />

trends and celebrity endorsements.<br />

In a recent interview with Solitaire Magazine,<br />

Phillips worldwide head of jewellery senior<br />

specialist Benoît Repellin discussed the<br />

‘modern make up’ of jewellery auctions<br />

in great detail.<br />

He says that media attention around these<br />

auctions has attracted younger consumers<br />

to the market; however, he continues by<br />

suggesting that it’s a complicated issue.<br />

“Today, the big jewellery collectors are more<br />

discreet. In recent times, jewellery is seen as<br />

a key fashion statement at red carpet events.<br />

But most of the pieces that the influencers,<br />

actors and actresses wear are loaned to<br />

them by jewellery maisons from either their<br />

heritage department or from new collections,”<br />

Repellin explains.<br />

“It is good to see these jewels adorned and<br />

it does help generate interest in younger<br />

THE BLEU ROYAL<br />

CHRISTIE’S IN GENEVA<br />

audiences, but we rarely see real influencers<br />

today who collect a lot of jewellery and wear<br />

it in public like how Elizabeth Taylor did in<br />

the old days.<br />

He added: “Perhaps Jennifer Lopez is a<br />

potential influencer from modern times who<br />

owns a lot of interesting jewellery that she has<br />

worn in public.”<br />

High-profile auctions include detailed<br />

descriptions and commentary on the diamonds<br />

being sold, and expert photographers and<br />

videographers showcase the stones' stunning<br />

visual appeal.<br />

Many fancy colour diamonds have fascinating<br />

histories and backstories, and this context<br />

can be used to drum up additional interest<br />

among collectors.<br />

This increased access to information could<br />

be considered a motivator for intrigue and<br />

interest among consumers, enhancing their<br />

appreciation and understanding of the category.<br />

Finally, it would be folly to overlook these events<br />

themselves. The excitement and drama of an<br />

auction in a competitive atmosphere can drive<br />

consumer interest and engagement.<br />

Newcomers join the party<br />

Repellin says that an increasingly younger<br />

demographic is interested in jewellery auctions,<br />

mainly due to digital marketing.<br />

“Most of the buyers in the jewellery auction<br />

world today are aged between and above 50 to<br />

60 years. However, we are seeing a demographic<br />

shift with more younger clients showing interest<br />

in jewellery auctions. This shift is driven partly<br />

by the advent of online auctions and is more<br />

prominent in Asia and in some European<br />

countries, than in the US,” he added.<br />

“The pandemic changed how people like to<br />

participate in auctions and brought about a<br />

popularity for online auctions. We invest a lot in<br />

digital marketing now.<br />

WINSTON PINK<br />

LEGACY<br />

CHRISTIE'S IN GENEVA<br />

"Our presence on social media has also allowed<br />

us to reach a broader range of clients. As of last<br />

year, about 40 per cent of jewellery buyers at<br />

Phillips auctions were aged 50 or below.”<br />

As mentioned, it’s not all smooth sailing—<br />

jewellery and diamond auctions could be<br />

perceived as a ‘double-edged sword’ when it<br />

comes to promoting the category.<br />

If a diamond or jewellery piece does not achieve<br />

its expected auction price or even falls short<br />

of previous records, it can negatively impact<br />

market perception.<br />

As a recent example, an Argyle pink diamond<br />

was highly publicised ahead of a recent sale<br />

in Sydney.<br />

The 0.94-carat radiant-cut fancy intense pink<br />

diamond was expected to generate tremendous<br />

attention among collectors.<br />

THE ETERNAL PINK<br />

SOTHEBY'S IN NEW WORK<br />

30 | <strong>September</strong> <strong>2024</strong>


LE MONTAIGNE DIAMOND<br />

DIOR<br />

In the lead-up to the sale, First State Auctions director Ari Taibel<br />

described the stone as the ‘most significant diamond’ his company<br />

has auctioned; however, it went unsold. There was a similar story<br />

in New York recently, when three fancy colour diamonds went<br />

unsold at Phillips.<br />

A 45-carat, fancy vivid yellow stone, a 4-carat, fancy-intense-green<br />

diamond, and a 3-carat, light-blue set in a ring by Cartier each went<br />

unsold. The point to remember regarding these examples is that<br />

individual auctions are not emblematic of broader trends in the<br />

fancy colour diamond market.<br />

That said, of course, it hasn’t been all bad news lately! A 202-carat<br />

yellow diamond, known as the Yellow Rose, impressed onlookers<br />

at Christie’s in Geneva, generating a $USD6.7 million return – the<br />

second-highest price for a stone of its size and colour for the<br />

auction house.<br />

In the aftermath of the event, Max Fawcett, head of jewels<br />

for Christie’s in Europe, said, “There is nothing better as an<br />

auctioneer than a full and engaged saleroom, and to achieve such<br />

strong results is remarkable.”<br />

He described the market for colour diamonds and gemstones<br />

as ‘on fire’ and said it was the best possible start to the<br />

auction season. Staying with Geneva, Phillips sold a 6-carat<br />

pink diamond for $USD12 million in May. At the same auction,<br />

the Argyle Phoenix, a 1.56-carat fancy red diamond, returned<br />

$USD4.2 million, nearly triple its estimate.<br />

A 10-carat fancy intense pink diamond ring at Christie's in New<br />

York returned $USD13.3 million. Rahul Kadakia, international<br />

head of jewellery at Christie’s, said the Eden Rose “surpassed all<br />

expectations” and that collectors remain eager to pursue fancy<br />

colour diamonds.<br />

High-profile auctions, boosted by media coverage, are attracting<br />

an increasingly younger demographic to the world of fancy<br />

colour diamonds. While successful sales may boost market<br />

confidence, unsold high-profile pieces could negatively impact<br />

perceptions. Recent notable sales indicate ongoing passion and<br />

enthusiasm in the market despite the occasional setback.<br />

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BRIDAL<br />

FEATURE<br />

FEATURE<br />

Together XXXForever<br />

A BEGINNER’S BLUEPRINT<br />

Bridal &<br />

ART DECO COLLECTION<br />

SOKLICH & CO.<br />

soklichco.com<br />

Discover Soklich & Co.’s new Art Deco<br />

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diamond, surrounded by 42 white round<br />

brilliant cut diamonds in 18-carat white<br />

gold and showcasing elegant yet bold<br />

geometric shapes and symmetrical<br />

pattern in an alluring collection.<br />

Engagement<br />

<strong>Jeweller</strong>y<br />

Sales<br />

Successfully selling engagement<br />

and bridal jewellery is critical for<br />

Australia’s independent retailers.<br />

SAMUEL ORD explains the basics<br />

behind success in the category.<br />

NIRVANA<br />

NINA'S JEWELLERY<br />

ninasjewellery.com.au<br />

Nina's <strong>Jeweller</strong>y celebrates forever with<br />

hidden details - surprises intended only for<br />

the wearer, designed to elevate otherwise<br />

classic styles. This includes ornate baskets,<br />

hidden diamonds and elegant details.<br />

And as Australian fancy colour diamond<br />

specialists, they embrace the trend of<br />

colour diamonds in engagement rings.<br />

E<br />

ngagement and bridal jewellery<br />

sales are crucial to the success of<br />

many independent jewellery stores<br />

in Australia.<br />

It’s a category that demands attentiveness and<br />

expertise from sales staff. The stakes are high,<br />

and it can be a daunting experience for those<br />

‘entering the arena’ for the first time.<br />

Several unique factors separate the sale of<br />

engagement and bridal jewellery from the<br />

retail of other forms of jewellery.<br />

It’s not uncommon for the purchase of bridal and<br />

engagement jewellery to be the most significant<br />

final decision of a young consumer’s life. This<br />

means that the purchasing process is complex.<br />

There’s a significant amount of money at stake,<br />

and furthermore, the pieces that are selected will<br />

likely be worn for a lifetime, symbolising the most<br />

important personal relationship that the consumer<br />

will experience.<br />

It should go without saying that high-value<br />

transactions must be handled with care.<br />

Discussions about budgets and financing<br />

should be given extra consideration, which can<br />

strengthen the level of trust between consumers<br />

and businesses.<br />

This is one of many crucial differences between<br />

bridal and engagement jewellery and other<br />

categories. Another is the need for multiple visits<br />

and detailed consultations, often underpinned by<br />

the stress of wedding planning.<br />

These factors can be further strained by a sense<br />

of urgency that many consumers experience when<br />

shopping for momentous jewellery. Sales staff must<br />

be responsive and efficient and recognise that many<br />

people struggle with procrastination. Who among<br />

us hasn’t left a vital decision until the last moment?<br />

With that in mind, discretion and sensitivity are<br />

crucial challenges that jewellery sales staff must<br />

answer. Proposals are often kept secret to secure<br />

the surprise; however, all it takes is one mistimed<br />

phone call or email to spoil the moment!<br />

Product knowledge is another crucial pillar for<br />

successfully selling bridal and engagement<br />

jewellery. Consumers are searching for retailers<br />

who they can trust to provide the right product.<br />

Whether it be in-depth knowledge of precious<br />

metals, gemstones or diamonds or the ability to<br />

explain the differences in settings and certifications,<br />

advising consumers on the finer details requires<br />

some background reading.<br />

While this can be a stressful challenge, it creates<br />

critical additional opportunities for retailers.<br />

Building a strong relationship with the consumer<br />

is essential because of the emotional intensity of<br />

the purchase. If retailers handle this relationship<br />

correctly, it can begin a lifelong association between<br />

consumer and business.<br />

Said another way, while consumers may quickly<br />

forget where they purchased their latest bracelet or<br />

set of earrings, very few forget the store where they<br />

found a diamond ring that they would wear for the<br />

rest of their lives!<br />

This is a tremendous opportunity for repeat sales,<br />

referrals, consumer advocacy, and word-of-mouth<br />

marketing.<br />

In summary, selling engagement jewellery involves<br />

complex decision-making and a higher level of<br />

personalised service than selling other jewellery.<br />

While the stakes are higher, so are the rewards!<br />

Sit & Settle<br />

Every day, consumers enter Australia’s jewellery<br />

stores burdened by stress and concern. It’s easy to<br />

quickly feel overwhelmed by the technical aspects<br />

of engagement rings, whether diamond grading,<br />

precious metal types, or settings.<br />

Developing the ability to identify and understand<br />

a customer’s preferences, especially in a highly<br />

personalised purchase such as bridal and<br />

engagement jewellery, can be a challenge<br />

for newcomers.<br />

There are several solutions to this challenge;<br />

however, they can take time to master. Establishing<br />

trust and rapport with consumers is critical;<br />

jewellery sales staff should be viewed as an<br />

authority that can and will guide the consumer to<br />

the right choice.<br />

This is established by demonstrating sophisticated<br />

product knowledge, such as information about<br />

different types of gemstones, diamonds, and<br />

metals. Accurate knowledge is crucial for easing<br />

consumers' concerns and building rapport.<br />

Employees can develop this comprehensive<br />

education first-hand by enrolling in courses and<br />

participating in training workshops.<br />

<strong>September</strong> <strong>2024</strong> | 33


Together Forever | BRIDAL FEATURE<br />

MODERN BRIDAL<br />

MARK MCASKILL JEWELLERY<br />

markmcaskill.com.au<br />

ETERNITY RINGS<br />

RR DIAMONDS<br />

From RR Diamonds, Eternity Rings<br />

featuring natural diamonds (E-G VVS-<br />

VS) with GIA certificates are available<br />

in emerald cut (7.60 carats) and<br />

cushion cut (12.60 carats). Another<br />

highlight is the 11.94-carat yellow<br />

fancy colour diamond, set in a ring<br />

with a further 4.02-carats of yellow<br />

and pink diamonds.<br />

New to Modern Bridal by Mark McAskill:<br />

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with a stunning combination of high-grade (VS/<br />

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totalling 2.00 carats set in 18-carat yellow gold.<br />

Spending time with experienced jewellers and<br />

designers can also lead to practical insights<br />

about jewellery manufacturing.<br />

Subscribing to jewellery trade magazines,<br />

blogs, and online resources that cover the latest<br />

trends, technological advancements, and market<br />

insights is another way to broaden knowledge,<br />

as is taking the time to examine different types of<br />

jewellery regularly.<br />

When shopping for my wife’s engagement ring, I felt<br />

a tremendous pressure to ‘get it right’. Finding the<br />

ring that perfectly suits your partner’s tastes and<br />

preferences is challenging.<br />

Failing this challenge would feel like admitting<br />

that you don’t understand the person you intend<br />

to marry! If you factor in additional stresses, such<br />

as budgeting, the weight of the occasion can<br />

quickly add up.<br />

Nationwide <strong>Jeweller</strong>s is Australia’s largest<br />

industry buying group, working hand-in-hand<br />

with hundreds of Australian retailers to improve<br />

their businesses.<br />

General manager Glen Pocklington explains that<br />

when handling customers stressed about the<br />

occasion, having a dedicated section for the store<br />

specifically for bridal and engagement jewellery<br />

consultation is critical.<br />

“You need a space where customers can sit and<br />

feel comfortable. This is an area of emphasis when<br />

working with our members,” he tells <strong>Jeweller</strong>.<br />

“Sitting down one-on-one in a space away from<br />

the rest of the store, where they can comfortably<br />

discuss all the customisation and personalisation<br />

they’ll require, is critical. You should have all of your<br />

‘selling tools’ readily available and within reach<br />

because you’ll need to be able to show them many<br />

different options quickly.”<br />

Pocklington says that with consumers increasingly<br />

pursuing personalised and bespoke options,<br />

retailers must be ready to accommodate.<br />

“Very few modern brides will select something<br />

straight from a cabinet. Retailers should have<br />

a sample range ready for viewing; however,<br />

beyond that, it’s about sitting down and<br />

consulting,” he added.<br />

“It’s also important to factor in the working<br />

environment for your staff. Nobody wants to spend<br />

45 minutes to an hour leaning against a counter<br />

or a cabinet discussing options; it quickly starts to<br />

feel rushed. Having a dedicated section is a winning<br />

move for all parties.”<br />

Impress & Amaze<br />

Finding the right fit for bridal jewellery can be<br />

difficult. Balancing the desire for beautiful,<br />

high-quality jewellery with the constraints of a<br />

wedding budget can be challenging and stressful.<br />

Many other factors also need to be addressed.<br />

Whether choosing the right style, ensuring fit and<br />

comfort, or guaranteeing that bridal jewellery is<br />

compatible with the engagement ring.<br />

Getting customer service right is crucial– going<br />

above and beyond to ensure a positive experience<br />

at every stage of the consumer’s association with<br />

the jewellery store.<br />

<strong>Jeweller</strong>y sales staff should listen actively and pay<br />

close attention to what the customer says. This<br />

will guide any future recommendations and further<br />

establish trust and rapport.<br />

Experts suggest there should always be an<br />

emphasis on education without preaching. Brides<br />

are looking for information and guidance; however,<br />

they don’t want to be overwhelmed or feel like<br />

they’re being spoken down to.<br />

It is critical to explain why certain features and<br />

options might be right for them while leaving<br />

the choice in their hands. In this regard, it’s<br />

also essential to show empathy. Understand<br />

that purchasing bridal and engagement is an<br />

emotionally draining experience, and consumers<br />

need patience and support.<br />

Addressing any concerns or objections confidently<br />

is good practice, as is providing clear information<br />

to resolve doubts. Regularly seeking feedback from<br />

coworkers and/or mentors around interactions<br />

helps improve interpersonal skills.<br />

This feedback can be used to identify areas for<br />

improvement and practice new techniques for<br />

better engagement and relationship-building.<br />

Participating in role-playing exercises that<br />

simulate various customer interactions is another<br />

avenue. This practice helps you develop responses<br />

to different situations, refine communication<br />

techniques, and improve problem-solving skills.<br />

The Independent <strong>Jeweller</strong>s Collective recently<br />

recruited its 100th store in Australia four years<br />

after forming in 2020. CEO Joshua Zarb takes<br />

great pride in his group’s comprehensive approach<br />

to bridal and engagement jewellery sales.<br />

“This has been an area of significant investment for<br />

our group over the past two years, and I think it’s an<br />

aspect of the jewellery industry that has changed a<br />

great deal,” he tells <strong>Jeweller</strong>.<br />

“<strong>Jeweller</strong>y retailers need to incorporate as<br />

many elements of personal experience into the<br />

‘presentation’ as possible. It’s so much harder to<br />

sell from over the counter or off the shelf.”<br />

He continues: “Bridal is all about ‘wowing’ the<br />

customers with what your store can offer. Allowing<br />

customers to touch and feel samples is just the<br />

beginning; in today’s retail environment, your<br />

website is another crucial sale, too.”<br />

Zarb echoed Pocklington's sentiments and says<br />

having a refined, dedicated consultation area is<br />

crucial to success.<br />

“It’s all about making it clear to the customer at<br />

that moment that the occasion is all about them.”<br />

Pride & Joy<br />

METRO DIAMONDS<br />

metrodiamonds.com.au<br />

At Metro Diamonds, staff carefully select<br />

diamonds for limited, high-quality jewellery<br />

settings and consistently communicate to<br />

ensure peace of mind and great value at<br />

any price point.<br />

Perhaps the most critical thing any jewellery<br />

store employee should remember is that they<br />

are undertaking work they should be proud of.<br />

<strong>Jeweller</strong>y sales staff are crucial contributors to<br />

creating memories that will last a lifetime. When<br />

the stakes are that high, there’s no excuse for<br />

half-measures!<br />

It’s an opportunity to showcase your expertise –<br />

whether it be in terms of product knowledge or<br />

interpersonal skills.<br />

Getting the process right proves that the<br />

salesperson can navigate a stressful, emotional<br />

experience alongside someone else – a talent<br />

very few people have.<br />

Customers' gratitude and satisfaction should<br />

always be a source of personal pride and fulfilment.<br />

Should things turn sour, it should be treated as an<br />

opportunity to improve in the future, not a black<br />

mark on a career.<br />

34 | <strong>September</strong> <strong>2024</strong>


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ADVERTISING FEATURE | BRIDAL SHOWCASE<br />

ARGYLE KNOT COLLECTION<br />

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The Argyle Knot is a contemporary design<br />

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BRIDAL COLLECTION<br />

WORLD SHINER<br />

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Discover World Shiner’s exclusive bridal collection<br />

featuring exquisite fine diamond jewellery. Each piece is<br />

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BRIDAL JEWELLERY<br />

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ENGAGEMENT<br />

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Provide your customers with jewellery<br />

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Crafted with meticulous attention<br />

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1.70-carat oval centre diamond that<br />

radiates brilliance and grace with<br />

every glance. Flanking this centrepiece<br />

are two 5PP round brilliant-cut pink<br />

diamonds sourced from the Argyle<br />

mine, serving as a radiant reflection of<br />

a passion for luxury and simplicity.<br />

The Eloise Bracelet presents a timeless embodiment<br />

of elegance and natural beauty. This exquisite piece<br />

of jewellery seamlessly marries the allure of precious<br />

metals with the unique charm of lustrous pearls, creating<br />

a captivating accessory that radiates sophistication.<br />

LEGATO<br />

BECKS<br />

becksgroup.au<br />

The perfect harmony of craftsmanship and<br />

elegance and an exquisite enhancement<br />

of BECKS traditional wedding classics.<br />

The Legato range features a striking<br />

contrasting metal inlay seamlessly<br />

integrated with the main band and a<br />

personalised message of love, creating a<br />

timeless symbol of commitment.<br />

COCO YELLOW<br />

ELLENDALE DIAMONDS<br />

ellendalediamonds.com.au<br />

Crafted in 18-carat white and yellow gold, this<br />

ring showcases a captivating 1.05-carat yellow<br />

radiant-cut diamond, radiating brilliance and<br />

elegance with every turn. Flanked by two<br />

shimmering Cadillac diamonds, it beautifully<br />

embodies the love for luxury and refined<br />

simplicity. Experience the timeless elegance<br />

redefined with Coco Yellow.<br />

ELOISE NECKLACE<br />

IKECHO<br />

ikecho.com.au<br />

Introducing the Eloise Necklace: a<br />

timeless symbol of elegance and natural<br />

beauty. This stunning piece of jewellery<br />

beautifully combines the allure of precious<br />

metals with the unique charm of eyecatching<br />

pearls, resulting in a captivating<br />

accessory that exudes elegance.<br />

<strong>September</strong> <strong>2024</strong> | 37


BRIDAL SHOWCASE | ADVERTISING FEATURE<br />

OVAL DIAMOND<br />

ENGAGEMENT RING<br />

GERRIM INTERNATIONAL<br />

gerrim.com<br />

Simplicity and elegance never go out<br />

of style. Gerrim International proudly<br />

presents an 18-carat yellow gold<br />

engagement ring featuring a 1-carat<br />

oval diamond.<br />

PEARL & DIAMOND COLLECTION<br />

SOKLICH & CO.<br />

soklichco.com<br />

A contemporary pearl and diamond split band<br />

engagement ring from Soklich & Co. Features<br />

a 14.5mm South Sea Pearl with a total diamond<br />

weight of 0.59 carats, set in 18-carat yellow gold.<br />

Capturing the beauty and timeless partnership of<br />

diamonds and pearls in an exquisite collection.<br />

PINK KIMBERLEY TENNIS<br />

BRACELETS<br />

SAMS GROUP<br />

samsgroup.com.au<br />

The Pink Kimberley Tennis Bracelets capture the rare pink hues of Argyle pink diamonds,<br />

represented in a luxurious display of sparkling elegance. Argyle pink diamonds are<br />

recognised for their unparalleled vibrance and saturation, which is reflected in the<br />

contemporary designs from Pink Kimberley. These tennis bracelets reflect effortless luxury,<br />

the perfect accessory to elevate bridal style.<br />

RAPTURE<br />

NINA'S JEWELLERY<br />

ninasjewellery.com.au<br />

From compass point offset pear-cuts<br />

to an elaborate diamond basket, The<br />

Rapture from Nina's <strong>Jeweller</strong>y conceals<br />

a few hidden surprises. A purely pink<br />

0.15-carat round-cut, Argyle pink<br />

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an extraordinary triple-halo.<br />

SAPPHIRE DREAMS<br />

SAMS GROUP<br />

samsgroup.com.au<br />

The hoop earring designs from Sapphire<br />

Dreams feature a beautiful display of<br />

Australian sapphires hand-selected by a<br />

team of gemmologists in an arrangement of<br />

luxury and uniqueness. Each piece has been<br />

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PEARL & OPAL JEWELLERY STYLED BY NATURE<br />

wholesale.ikecho.com.au | 02 9266 0636 | enquiries@ikecho.com.au<br />

SCAN QR CODE TO<br />

VIEW MORE ONLINE


CAD/CAM FEATURE<br />

Digital Transformation<br />

NOCTURNAL MURMUR<br />

NECKLACE<br />

STEPHEN WEBSTER<br />

SAMUEL ORD explores the rising<br />

popularity of CAD/CAM services and<br />

tools in the Australian jewellery industry.<br />

LIGHTS OF THE EARTH<br />

CUFF<br />

CARTIER<br />

Digital design and manufacturing<br />

services have taken the<br />

jewellery industry by storm<br />

over the past decade.<br />

Computer Assisted Design (CAD) involves using<br />

specialised software to design intricate products<br />

in a digital format. This allows jewellers to create<br />

detailed 3D models, experiment with new designs,<br />

and make precise adjustments before progressing<br />

to production.<br />

CAD software enables customers to see a realistic<br />

representation of the jewellery before it’s created,<br />

increasing opportunities for customisation and<br />

enhancing the approval process.<br />

Computer Aided Manufacturing (CAM) is automated<br />

machinery that manufactures jewellery based on<br />

CAD designs.<br />

Examples include 3D printing of wax models for<br />

casting, CNC milling for precision cutting, and laser<br />

engraving for additional detail.<br />

CAM technology is highly accurate and repeatable,<br />

improving efficiency in production by minimising<br />

manual labour and material waste.<br />

These technologies streamline the creation<br />

and production of jewellery, and the industry’s<br />

awareness of the capabilities and advantages these<br />

tools afford has slowly but surely risen.<br />

The abrupt surge in the ‘mainstream’ popularity of<br />

3D printing undoubtedly accelerated interest.<br />

It's been said that CAD/CAM technology has<br />

‘revolutionised’ the industry by enhancing design<br />

precision, improving production times, and<br />

enabling greater creativity and customisation in<br />

jewellery creation.<br />

Advantages & Disadvantages<br />

From various perspectives, CAD/CAM is a topic<br />

<strong>Jeweller</strong> has covered extensively in the past.<br />

One of the most significant changes in the industry<br />

regarding CAD/CAM services was the reduction<br />

of the costs required to use these manufacturing<br />

technologies. Once thought of as a strategy<br />

restricted to the largest companies, emerging costeffective<br />

technology opened the doors wide.<br />

Suppliers in that report noted the impressive<br />

acceptance and adoption rate of these tools among<br />

jewellers, detailing how they allowed new jewellers<br />

to enter the industry.<br />

Another report addressed the matter from the<br />

retailer’s perspective, asking them to detail how<br />

CAD/CAM has changed their businesses over the<br />

past decade. The responses were surprisingly<br />

wide-reaching!<br />

CAD software allows jewellers to create and modify<br />

intricate designs easily. Retail jewellers can adjust<br />

designs to meet customer preferences, visualise<br />

real-time changes, and explore a broader range of<br />

creative options.<br />

Customers can collaborate with jewellers to create<br />

bespoke jewellery, including examining digital<br />

prototypes before production. This improves the<br />

overall customer experience.<br />

In other words, digital designs provide explicit<br />

visual representations of the final product,<br />

ensuring everyone is ‘on the same page’<br />

regarding expectations.<br />

Integrating CAD/CAM into the design and<br />

manufacturing workflow can reduce the need<br />

for multiple revisions and manual adjustments,<br />

streamlining the process from concept to product.<br />

As mentioned, CAM machinery ensures high<br />

precision in manufacturing, reducing errors<br />

and inconsistencies.<br />

<strong>September</strong> <strong>2024</strong> | 39


AWAKENED HANDS, AWAKENED MINDS<br />

LOUIS VUITTON<br />

This accuracy can produce better-fitting,<br />

higher-quality jewellery.<br />

The automation in CAM accelerates production,<br />

allowing retailers to complete custom orders and<br />

replenish stock quickly. This addresses a critical<br />

concern many jewellers share: time management.<br />

Finally, by reducing manual labour and material<br />

waste through precise manufacturing, CAD/CAM<br />

can lower production costs.<br />

With that said, it would be folly to pretend that<br />

emerging technologies only offer advantages!<br />

CAD software and CAM machinery can be complex<br />

for some to understand and operate. <strong>Jeweller</strong>s<br />

need to invest time and resources in training, and<br />

some experience a steep learning curve, which can<br />

temporarily disrupt their workflow.<br />

Some have voiced concern that reliance on CAD/<br />

CAM systems can be problematic if unexpected<br />

technical issues or software malfunctions occur.<br />

Furthermore, emphasis on digital design and<br />

automated manufacturing may reduce the role<br />

of highly valued traditional craftsmanship and<br />

manual skills.<br />

With that said, it's clear that many of these<br />

potential 'disadvantages' are easily managed or<br />

THE KEEPER OF TIME<br />

WALLACE CHAN<br />

resolved, while others are merely a matter of<br />

personal preference.<br />

Education & Information<br />

While CAD/CAM is highly advantageous for many<br />

jewellers, this industry is, of course, notoriously<br />

resistant to change.<br />

<strong>Jeweller</strong>’s <strong>2024</strong> State of the Industry Report<br />

detailed the trade’s reluctance to embrace digital<br />

marketing specifically.<br />

It was discovered that of the 2,010 independent<br />

jewellery stores in Australia, around 30 per cent<br />

didn’t have a website.<br />

This research suggested that around 14 per cent<br />

of the market relies on Facebook alone when it<br />

comes to ‘digital presence’ – and a further 3 per<br />

cent uses Instagram.<br />

The study revealed that more than 250 retail<br />

jewellers (13 per cent of the market) have no digital<br />

presence whatsoever.<br />

With that said, the consensus among suppliers is<br />

that understanding and appreciation of CAD/CAM<br />

services is steadily rising in the trade.<br />

Based in Sydney, Chemgold takes great pride in its<br />

casting, refining, finish, and CAD/CAM services.<br />

Director Darren Sher says that in the past five<br />

years, he’s witnessed a notable increase in<br />

understanding and awareness among jewellers.<br />

"More jewellers than ever are familiar with these<br />

technologies and what they have to offer," he<br />

tells <strong>Jeweller</strong>.<br />

"The growing familiarity is largely due to the<br />

continued integration of CAD/CAM into the<br />

jewellery industry, as it has simply become one of<br />

the key ways jewellery is made around the world.<br />

The precision, efficiency, and ability to create<br />

intricate designs that these tools provide have<br />

driven widespread adoption."<br />

He continues: "As the technology has advanced,<br />

more educational resources and training programs<br />

have become available, helping jewellers learn how<br />

to get the most out of CAD/CAM systems."<br />

Sher says naturally, it's not all smooth sailing.<br />

The industry will continue to navigate specific<br />

challenges in the years to come.<br />

These include designers not fully grasping CAD<br />

requirements and tolerances, struggling to decide<br />

between resin and wax printers, and the need<br />

to produce jewellery in components for optimal<br />

quality - which isn’t always recognised.<br />

With that said, based on advances in recent years,<br />

he’s confident the category will continue to grow.<br />

"Some challenges remain, particularly when<br />

working with designers who may not fully<br />

understand the design requirements and<br />

tolerances needed in the CAD files to produce the<br />

best results," he explains.<br />

"There is also the consideration of when to use<br />

resin technology versus traditional wax printers,<br />

which requires a nuanced understanding of both<br />

the design and production process."<br />

"Additionally, it's important to understand that<br />

producing jewellery in components can often<br />

ensure the highest quality result, though not all are<br />

aware of this approach."<br />

Approval & Agreement<br />

Rapid Casting is also based in New South Wales.<br />

The company takes great pride in its in-housedesigned<br />

Online CAD Design Portal.<br />

The program was launched in 2006 and has been<br />

consistently refined and fine-tuned. The process<br />

is simple: jewellers upload a PDF, sketch, photo,<br />

or logo for a streamlined and efficient CAD<br />

design service.<br />

The portal offers immediate communication<br />

regarding the design stored in an easily accessible<br />

online account so retailers can receive up-to-date<br />

progress on each project.<br />

This means that jewellers can plan ahead of time.<br />

Both 2D and 3D design models are available for<br />

inspection before final approval.<br />

Speaking at the International <strong>Jeweller</strong>y Fair in<br />

Sydney, production manager Ben Farago says he<br />

has also witnessed an increased level of knowledge<br />

about these services in the industry.<br />

“Speaking with jewellers at an event like the Sydney<br />

Fair, very few aren’t already familiar with CAD/CAM.<br />

The industry knows about it,” he says.<br />

“They might not completely understand the<br />

process, so there’s always the opportunity<br />

to talk them through the process from start<br />

to finish. Fortunately for everyone, it’s pretty<br />

straightforward.”<br />

Regarding 3D printing specifically, he says that the<br />

recent popularity of these services has led to an<br />

uptick in jeweller knowledge.<br />

The sudden spike in ‘mainstream’ interest in 3D<br />

printing can be traced to many different origins,<br />

such as reduced costs and improved capabilities.<br />

That said, it’s difficult to look past the sudden rise<br />

of the ‘do-it-yourself’ culture associated with 3D<br />

printing, as an expansive array of niche groups<br />

popularised the creation of customised items on<br />

social media.<br />

40 | <strong>September</strong> <strong>2024</strong>


FLIGHT ENCOUNTER BROOCH<br />

STEPHEN WEBSTER<br />

KISSING DIAMOND,<br />

CHALCEDONY &<br />

TOURMALINE<br />

BOGHOSSIAN<br />

The implications were significant for the jewellery<br />

industry – opening the door for retailers to explore<br />

new methods for creating products.<br />

At the same time, independent artisans were<br />

offered the chance to enter the industry with new,<br />

unconventional methods.<br />

“Once upon a time, people would flatly ask us for a<br />

‘3D printer’. We’d ask them what type and what for,<br />

and they’d be somewhat stumped,” Farago jokes.<br />

“People are starting to understand the differences<br />

between a $200, a $2,000, and a $200,000 3D<br />

printer more and more. The more common<br />

question we hear now is ‘should I get one’ rather<br />

than ‘can I have one’ - which is a small indication of<br />

just how far we’ve come.”<br />

Heritage & Pride<br />

In a previous report, Sher suggested that an<br />

increasing enthusiasm for locally made and<br />

manufactured products, a dominant trend<br />

among Australian consumers, was critical to the<br />

rise of CAD/CAM.<br />

Retailers commonly reported this<br />

during the pandemic. He says that<br />

these trends have shown no signs of<br />

slowing down.<br />

"Regarding the emphasis on returning<br />

manufacturing to Australia, this trend<br />

has continued over the past few years,"<br />

Sher explains.<br />

"The focus on local production has been driven<br />

by a combination of factors, including supply<br />

chain disruptions and a growing appreciation for<br />

the quality and craftsmanship associated with<br />

Australian manufacturing."<br />

Indeed, this growing push for local manufacturing<br />

in Australia, driven by supply chain issues and<br />

the preference for high-quality, locally sourced<br />

jewellery, does reflect a shift among consumers.<br />

An appreciation for craftsmanship and reliability<br />

provided by domestic production calls for<br />

innovation, and CAD/CAM services offer precisely<br />

that. Digital design and manufacturing streamline<br />

the process by reducing expenses and saving time<br />

while providing efficiency and accuracy.<br />

Perhaps most important is the expanded<br />

opportunity for review and approval – ensuring that<br />

retailers and consumers always see eye-to-eye and<br />

that expectations are clear.<br />

Just as machinery improves efficiency and<br />

accuracy, a thorough approval process removes<br />

uncertainty and ambiguity, leaving everyone<br />

satisfied when all is said and done.<br />

<strong>September</strong> <strong>2024</strong> | 41


INTERNATIONAL JEWELLERY FAIR <strong>2024</strong><br />

Word On The Street<br />

The International <strong>Jeweller</strong>y Fair<br />

concluded in Sydney with buyers<br />

and suppliers bidding farewell<br />

after three busy days of trade.<br />

It was an event that will be remembered for<br />

many years – whether it be because of the<br />

popularity of promotions and special exhibitions,<br />

the business partnerships that formed, or the<br />

hotly debated impact of competing events and<br />

adverse trading conditions.<br />

After overseeing three days of trade between more<br />

than 150 exhibitors and thousands of visitors,<br />

Expertise Events managing director Gary Fitz-Roy<br />

was content.<br />

“I think many people went into the weekend<br />

without high expectations because of the state of<br />

our current economy, and the majority of people<br />

I’ve spoken with since the fair has been very<br />

positive,” he told <strong>Jeweller</strong>.<br />

“I think these ‘realistic’ or even pessimistic<br />

expectations have been largely exceeded because<br />

we’ve had reports of stronger written business<br />

than was anticipated, which is great to hear.”<br />

Walking the show floor<br />

Among those quick to echo the sentiments of<br />

Fitz-Roy was Duraflex Group Australia’s<br />

managing director, Phil Edwards.<br />

He said he was impressed with the proactive<br />

approach many retailers took to the Darling<br />

Harbour event.<br />

“The fair this year has exceeded our expectations.<br />

Those attending have come with a planned agenda<br />

and strategy to capitalise on the upcoming busier<br />

months of trade ahead,” he explained.<br />

“Overall, the feedback has been very positive, the<br />

attendance at the stand has been consistent, and<br />

we’re pleased with the results.”<br />

Walking onto the show floor, visitors were<br />

immediately greeted by the BECKS stand. In<br />

recent years, the exhibitor has undergone a<br />

significant branding overhaul.<br />

When walking the show floor, it was amusing<br />

to see the startled reactions to the giant yellow<br />

Haribo bear stalking the aisles, handing out<br />

fistfuls of sweets.<br />

Duraflex and Thomas Sabo organised the<br />

promotion following the release of a new<br />

collection. Edwards said the event was a<br />

valuable learning exercise for the distributor.<br />

“The THOMAS SABO x HARIBO Collection has<br />

proved quite the surprise; while some retailers<br />

were initially unsure, the sell-through has proved<br />

that this trend is a hit, and so we’ve seen strong<br />

replenishment orders,” he explained.<br />

“For Daniel Wellington, we have launched the<br />

new season collection and brand-new displays<br />

that offer greater interchangeability and seamless<br />

integration of jewellery with watches.<br />

“This brand is now the number one watch brand in<br />

our watch portfolio by volume, and we’ve had a lot<br />

of new retailers take on the brand.”<br />

The staff at Designa Accessories, which recently<br />

celebrated anniversaries for Maxum and Timex,<br />

was keen to discuss watches and timepieces.<br />

The company showcased the Philipp Plein<br />

brand, which offers distinct product lines<br />

targeting luxury and sports markets.<br />

General manager Ivan Meys said in the lead-up to<br />

the Sydney Fair that he’d eagerly anticipated the<br />

chance to introduce buyers to the brand.<br />

“I’m really optimistic about the viability of these<br />

products in the Australian market. I think it’s<br />

particularly well suited to local consumers<br />

because of the attractive price point,” he said.<br />

“Given the current economic conditions retailers<br />

are navigating, I think this is exactly the kind of<br />

luxury product that people are looking for.”<br />

He added: “The brand has a powerful, very<br />

aggressive marketing philosophy around the<br />

world, and it’s going to be fascinating to watch it<br />

evolve over the coming years.”<br />

State of the industry<br />

Recent research detailing the concerns of<br />

retailers in Australia should make it no surprise<br />

that topics such as consumer spending, wage<br />

increases, goods and services costs, and cash flow<br />

management were commonplace.<br />

Retail Edge Consultants is one exhibitor at the<br />

coalface. General manager Leon van Megen<br />

said the event provided valuable insights into<br />

the industry's state.<br />

“We had a really good couple of days. Saturday and<br />

Sunday were very busy, and Monday was a little<br />

more relaxed, as is usually the case,” he said.<br />

“As I’m sure most people expected, much of the<br />

feedback from retailers was about the issues<br />

they’re facing. June, in particular, seemed to be a<br />

tough month.<br />

"Most people were optimistically hoping that we’ve<br />

been through the thick of it now.”<br />

When embracing innovative methods for improving<br />

revenue, van Megen said it was a mixed bag, citing<br />

<strong>Jeweller</strong>'s recent research into digital marketing.<br />

“We’ve spoken with a diverse range of people,<br />

from those looking at new ways to improve<br />

42 | <strong>September</strong> <strong>2024</strong>


their business with data analysis, business<br />

consulting, and other opportunities to those<br />

at the other end of the spectrum who are<br />

struggling with change,” he said.<br />

“Fingers crossed that we’re on the rise now and<br />

that people leveraging new initiatives, whether it<br />

be changes in stores or digital strategy, will start<br />

to see results soon.”<br />

Another exhibitor hoping for an optimistic road<br />

ahead was colour gemstone jewellery specialist<br />

Gerri Maunder.<br />

“I thought the fair was well run, and we were happy<br />

with the result. We had some great feedback about<br />

our new releases,” she said.<br />

“It’s no secret that times are tough; however, many<br />

retailers we work with remain hopeful for the<br />

Christmas season ahead.<br />

"That seemed to be the main takeaway for us that<br />

we move on to better days and a positive finish to<br />

the year.”<br />

As part of a 30th anniversary celebration, Gerrim<br />

International hosted a $30,000 colour gemstone<br />

jewellery giveaway, which was won by John Franich<br />

<strong>Jeweller</strong>s from Auckland.<br />

“They were over the moon when they were<br />

announced as the winner. We’ve done business<br />

with them for many years and know them well,”<br />

Maunder added.<br />

“It was a great chance to give something back to<br />

the industry that has been instrumental in our<br />

story, developing into the business we are today.”<br />

International flavour<br />

Visitors found Ken Abbott and Timesupply near<br />

the entrance, offering brands such as Nomination,<br />

Qudo, Sif Jakobs, and Coeur De Leon.<br />

“It’s been a very, very good fair. We’ve met with<br />

many new potential stockists that we weren’t<br />

familiar with before," he told <strong>Jeweller</strong>.<br />

"We’ve also met with many existing retail partners<br />

who have replenished collections for summer."<br />

“We also had the opportunity to strengthen<br />

our marketing relationship with many of the<br />

retailers to provide them with the tools that<br />

they require to market and to increase their<br />

return on investment.”<br />

He continued: “The market, of course, is tougher<br />

than it has been, but there is so much potential<br />

when retailers are focused on a great product<br />

and supported with marketing to produce<br />

important results.”<br />

Timesupply introduced a special visitor to the<br />

Sydney Fair this year: Nicoleta Benta from<br />

Nomination’s Italian headquarters greeted visitors.<br />

It didn’t take long for the special guest to capture<br />

the attention of buyers and add some international<br />

flavour to the event – she speaks seven languages!<br />

“I’ve had an amazing time in this beautiful country.<br />

Our brand is always focused on developing in new<br />

markets, and it’s been great to find out that so<br />

many retailers are passionate about our jewellery,”<br />

she explained.<br />

“For the brand, it’s always important to maintain<br />

direct contact with our partners, and we’ve always<br />

stood by that strategy. You could have the best<br />

jewellery in the world; however, without the right<br />

people, you’ll never survive.”<br />

She added: “I’ve learned a great deal from the fair<br />

in Sydney, just from conversing with people in the<br />

market and letting them share the frustrations<br />

they’re experiencing. People might be surprised<br />

to learn that these issues are not just restricted to<br />

Australia and that we can address them together.”<br />

Attention: Captured<br />

Six manufacturing jewellers raced against the<br />

clock daily to complete a jewellery piece based on<br />

a ‘mystery box’ of resources as part of the $5,000<br />

Benchies Challenge.<br />

Onlookers were enthralled by each jeweller's<br />

approach while fighting against a deadline<br />

displayed on an ominous red timer. Gina Kind, head<br />

teacher of jewellery design at TAFE NSW, said she<br />

was thrilled with the reception to the competition.<br />

“I think it’s been amazing. The students have<br />

performed beyond what was expected of them,”<br />

she said.<br />

“It’s a good exercise for the industry to see<br />

that people are still being trained in jewellery<br />

manufacturing and that hand-making skills are<br />

alive and well. We’re appreciative of the support<br />

from everyone around the event.”<br />

She added: “The biggest positive for me has been<br />

how the competitors have supported each other. It<br />

might be a competition, and there’s money on the<br />

line, yet they’ve cheered each other on and taken<br />

pride in each piece of work.”<br />

On the opposite side of the show floor, US<br />

gemstone cutter Scott Sucher entertained visitors<br />

with stories about the creation of his World<br />

Famous Diamonds collection.<br />

Across the three days, visitors and suppliers visited<br />

the exhibition to examine the replica creations of<br />

38 iconic diamonds from history.<br />

Moving forward<br />

In the final hours of the Sydney Fair, Fitz-Roy<br />

said the atmosphere contrasted with the<br />

prevailing ‘doom and gloom’ sentiments about<br />

the state of retail.<br />

“There was a funny ‘buzz’ on the show floor<br />

around halfway through Monday; many exhibitors<br />

were still busy doing business,” Fitz-Roy said.<br />

“Everyone is always interested in a comment about<br />

the final numbers, but I think we’ll find that there<br />

was very little difference from year to year. I think<br />

many perceptions are based on quantity regarding<br />

jewellery fairs, but you’ll find the truth in quality.”<br />

With the Australian jewellery industry’s largest<br />

annual gathering in the books, the attention for<br />

Expertise Events now turns to next year.<br />

The Melbourne <strong>Jeweller</strong>y Expo is scheduled for<br />

1-3 February at the Melbourne Convention and<br />

Exhibition Centre in South Wharf. The Australian<br />

<strong>Jeweller</strong>y Fair will return to the Gold Coast<br />

on 6-7 April after a highly successful event<br />

earlier this year.<br />

<strong>September</strong> <strong>2024</strong> | 43


BUSINESS<br />

Strategy<br />

Pricing is the strategic weapon<br />

of your business<br />

Is your business selling itself short? DAVE WAKEMAN explores some essential<br />

considerations when pricing products in your jewellery store.<br />

Pricing is one of the crucial strategic<br />

decisions that can easily be neglected.<br />

To me, it is one of the three most<br />

significant strategic decisions an<br />

executive makes, right up there with<br />

brand codes, target market segment,<br />

and position in the overall market.<br />

Your price manifests these decisions<br />

for your target market. Why? Price is<br />

a signal.<br />

It tells your market whether you are a<br />

premium product or a budget service.<br />

Price conveys to your target market what<br />

your position is in the market.<br />

The price you set can tell your audience<br />

that you are top shelf or just ‘average’.<br />

It can underline or undermine your<br />

brand equity.<br />

Underline by being consistent with your<br />

strategy and undermine by using price as<br />

an afterthought to your plan.<br />

Why am I mentioning this? Your price<br />

impacts the delivery of your strategy<br />

in three critical ways: awareness,<br />

perception, and profits.<br />

Awareness matters – customers can’t<br />

buy from you if they don’t think about you<br />

when they are ready to purchase.<br />

In business-to-business sales, if you<br />

aren’t in the three to four business<br />

considerations set when the research<br />

phase happens, no amount of persuasion<br />

will help. The average business I work<br />

with finds that it takes 11-13 touchpoints<br />

before a customer buys.<br />

Both examples highlight the<br />

importance of awareness.<br />

This is why I remind everyone to<br />

always remember the two iron rules<br />

of marketing.<br />

• The 60/40 rule states that your<br />

marketing mix should consist of about<br />

60 per cent brand building and 40 per<br />

cent sales activation.<br />

• The 95/5 rule states that only 5 per<br />

cent of your business-to-business<br />

customers are in the market for your<br />

services anytime.<br />

Perception can make you, and it can<br />

also break you. The perception your<br />

price creates can help you or hurt you in<br />

several ways.<br />

Your price can shift or underline the<br />

perception of value in your target<br />

market. It can also signal whether you<br />

are high-quality or low-quality. Your price<br />

can signal that you are a good value or<br />

poor value.<br />

This is one of the reasons I tell you that<br />

the price-setting moment is marketing’s<br />

MVP moment: It can define consumers'<br />

perceptions of you.<br />

The final factor to consider is the pricing<br />

is equal to profits. This magic equation<br />

is why I tell marketers to fight for their<br />

place in the pricing conversation.<br />

For every 1 per cent of the price you<br />

maintain or increase, your profits<br />

improve by around 11 per cent. This has<br />

been studied many times and tracked<br />

with my work.<br />

The opposite also applies; for every 1 per<br />

cent you discount, you lose 10 per cent or<br />

more of your profits.<br />

Your price<br />

manifests these<br />

decisions for<br />

your target<br />

market. Why?<br />

Price is a<br />

signal.<br />

This has been studied and observed<br />

in my work. Discounting can destroy<br />

your brand and is the fastest way to<br />

undermine its perception. It also eats<br />

away at your profitability. Remember<br />

that it’s not about what you make but<br />

what you keep!<br />

These three intersections make me say,<br />

“Discounts are for dummies!”<br />

Where does strategy come into this?<br />

First, there is the ‘Endless Growth Trap’,<br />

the idea that people feel the<br />

only direction they can go is up.<br />

It is often said that anything other<br />

than increasing sales is a disaster;<br />

however, this isn’t true. You can make a<br />

significant amount of sales and collect<br />

little profit.<br />

The reality is there is a finite number of<br />

opportunities, and the buyer’s path is<br />

long and, in many examples, is getting<br />

longer. Your branding efforts take time<br />

to root themselves; however, your price<br />

can tear these efforts down quickly.<br />

Strategy is about three key ideas:<br />

• Focus: What does success look like?<br />

• Consistency: Are you delivering in line<br />

with that focus again and again?<br />

• Through Line: Are you staying focused<br />

on the strategy evening when inevitable<br />

change occurs?<br />

Your price sets should reflect your<br />

focus: Who is it for? What do we want<br />

our position to be? It should also<br />

underline your brand: Are we showing<br />

up how we want to? Does our market<br />

see us the way we want to be seen?<br />

44 | <strong>September</strong> <strong>2024</strong>


Your price should help you achieve<br />

success. So, take the time to ask<br />

yourself the following questions.<br />

Is your business selling at the right<br />

price? Is your business signalling the<br />

right kind of value?<br />

Does the cost of your products and<br />

services act as a strategic weapon, or is<br />

it scattered and inconsistent?<br />

Charging the right price?<br />

What is your biggest fear when quoting a<br />

price for your products and services?<br />

• Do you worry that it’s too high?<br />

• Are you afraid of what your competitors<br />

are charging for similar products?<br />

• Are you concerned that other<br />

businesses are charging an hourly rate?<br />

Many businesses are dominated by<br />

relentless negative self-talk. I’m sure<br />

you’re familiar with this kind of thinking.<br />

“I’m a small business, there’s no way<br />

my customers will pay this price. If I<br />

don’t offer a discount, they’ll walk away.<br />

I can’t possibly justify quoting the right<br />

price because it will only take me an<br />

hour to finish the job.”<br />

These are all pricing myths and<br />

misconceptions. Below are several<br />

quick ideas to help you set better<br />

prices for your business.<br />

Consumers buy due to the intangible<br />

and tangible value, even when<br />

shopping on price.<br />

Sometimes, if the problem the<br />

product addresses isn’t super<br />

important, the cheapest option wins.<br />

In other cases, no price is too high<br />

because the issue is so important.<br />

Competitive advantage is life or death to<br />

a business. One is a commodity, and one<br />

is an advantage.<br />

Focus on the essentials and don’t sell<br />

based on arbitrary units. Lawyers do<br />

this with their ridiculous embrace of the<br />

‘billable hour’. Don’t be like a lawyer!<br />

Apple doesn’t sell iPhones priced based<br />

on how many phone calls you make; they<br />

sell iPhones for the price.<br />

It would be best if you thought about how<br />

you can do the same.<br />

Price according to the service or the<br />

product you deliver, not the arbitrary<br />

unit of time it might take you to provide<br />

the results.<br />

Don’t fall into the trap of comparative<br />

pricing. What your competition is<br />

charging doesn’t matter.<br />

Charge what you are worth and what<br />

you think is fair! Your competition might<br />

be idiots at pricing. They may have a<br />

different strategy.<br />

The market may place a different value<br />

on your business than your competitors.<br />

What the competition is doing is<br />

irrelevant unless you are a commodity.<br />

That’s a story for another day.<br />

Don’t discount: There are so many<br />

reasons not to discount. Whether it’s<br />

lost profit, lowered brand equity, or the<br />

increasing difficulty of future sales, you<br />

do not want your store to be viewed as<br />

a discount location.<br />

COMMON<br />

PRICING<br />

MISTAKES<br />

Competitive<br />

concerns<br />

The strategy of<br />

your competitors<br />

shouldn’t sway<br />

your pricing<br />

How high is<br />

too high?<br />

Fears about what<br />

customers are<br />

willing to pay<br />

shouldn’t impact<br />

the value of your<br />

products<br />

Fear of<br />

abandonment<br />

Discounting<br />

shouldn’t be used<br />

to keep wayward<br />

consumers<br />

interested<br />

Arbitrary<br />

hours<br />

Prices should<br />

reflect the overall<br />

value of the<br />

labour, and not<br />

just the time<br />

There are always customers who will<br />

want to haggle with you and beat down<br />

your price. Don’t let that attitude impact<br />

your business' overall image.<br />

So, what is your biggest pricing<br />

challenge? What makes you afraid to<br />

quote the price you know you deserve?<br />

Closing remarks<br />

Pricing is a critical yet often overlooked<br />

strategic decision that directly impacts<br />

the perception of your business, its<br />

market position, and profitability.<br />

The price you set signals to your target<br />

market whether your product is premium<br />

or budget, affecting its perception.<br />

A well-considered pricing strategy<br />

will align with your marketing efforts<br />

and influence a range of areas in<br />

your business, including the allimportant<br />

profitability.<br />

Discounting hurts your bottom line<br />

and damages your perception among<br />

consumers. When it comes to jewellery,<br />

it sends the wrong message about your<br />

products and services. Avoid arbitrary<br />

or comparative pricing, instead, set<br />

prices that reflect the true value of your<br />

business and what it has to offer.<br />

Don’t be afraid to ask the big questions<br />

about your pricing structure and the<br />

message it sends about your business.<br />

DAVE WAKEMAN is a consultant, writer,<br />

and teacher who believes in profits in<br />

business and not promises. Learn more:<br />

www.davewakeman.com<br />

<strong>September</strong> <strong>2024</strong> | 45


BUSINESS<br />

Selling<br />

How to break out of a frustrating sales slump<br />

Do you feel like you’re stuck in a rut?<br />

RYAN ESTIS explains how you can get back on top.<br />

“What advice would you have for a<br />

salesperson in a tough stretch or<br />

slump?”<br />

I’ve been asked this question more<br />

times than I can count. I’ve been there<br />

myself! And so have plenty of other<br />

sales professionals.<br />

The challenge is simple: You put a<br />

bracelet on your right wrist. Every<br />

time you consciously catch yourself<br />

complaining (or somebody else on your<br />

team does), you switch wrists.<br />

Here are a few ways to consciously show<br />

up each day without complaining.<br />

According to Salesforce's <strong>2024</strong> State<br />

of Sales report, nearly 70 per cent of<br />

sales reps don’t expect to meet their<br />

quota this year, and 84 per cent missed<br />

it last year.<br />

This tells us that traditional strategies<br />

are now obsolete. What drove<br />

performance before isn’t produce the<br />

same results today. Your customer’s<br />

expectations have changed, which<br />

means you must change, too.<br />

If you see this as an opportunity to<br />

stretch your skills and develop new<br />

ones, you can quickly overcome this<br />

slump and regain your competitive<br />

advantage. Here are a few ideas to<br />

restore your confidence, evolve your<br />

competency, and get excited and<br />

inspired about improving again.<br />

Get control of your calendar: First,<br />

track how you’re spending your<br />

time. How much of it is spent on<br />

pure sales activity?<br />

Does your schedule reflect the<br />

optimal investment in the highestyield<br />

activities? Plan your day the<br />

evening before and set daily targets<br />

for achievement.<br />

Audit your processes: In the absence<br />

of results, our activity warrants a<br />

thorough inspection.<br />

Take a close look at your approach<br />

to pre-call planning and follow-ups.<br />

What’s working? What isn’t? Where is<br />

your opportunity to improve?<br />

The best salespeople are constantly<br />

improving and understand that<br />

learning never stops. Audit each day<br />

at the close to assess your level of<br />

impact and momentum to ensure<br />

meaningful progress.<br />

Remind yourself of your successes:<br />

When your confidence takes a hit, revisit<br />

big wins, testimonials, case studies and<br />

what has worked in the past.<br />

Remind yourself that you’ve done<br />

good work, customers value your<br />

contribution, and prospective<br />

customers really need your help.<br />

Conduct experiments: When<br />

conditions change, so must we. So,<br />

try something new!<br />

The goal is not to avoid failure. In<br />

fact, you will make mistakes. The<br />

feedback and insight will help you<br />

iterate forward. If someone in your<br />

organisation or industry is having<br />

surprising success, ask yourself: what<br />

are they doing differently?<br />

Ask for support: Every great sales pro<br />

puts in the work; however, we all need<br />

feedback, guidance, and mentorship<br />

to thrive. Lean into support, training<br />

and feedback from your manager and<br />

organisation — and ask for it if you<br />

aren’t receiving it.<br />

So, this week, shift your mindset<br />

to view setbacks as opportunities.<br />

Embrace the chance to learn, absorb<br />

feedback and set yourself up for the<br />

next big breakthrough!<br />

No Complaining Challenge<br />

According to Dr. Travis Bradberry,<br />

co-founder of TalentSmart, we<br />

complain once a minute during a<br />

normal conversation. And the more<br />

we complain, the more likely we are to<br />

continue complaining.<br />

While a bit of complaining is natural,<br />

it’s not inevitable. You can spend the<br />

day lamenting every little thing that’s<br />

not perfect, or you can move forward<br />

and create the better future you desire.<br />

With that in mind, I decided to attempt<br />

an idea - the No Complaining Challenge.<br />

When you<br />

improve your<br />

professional<br />

listening<br />

skills, you’re<br />

preparing<br />

yourself for<br />

better strategic<br />

decisions and<br />

greater impact.<br />

Look for the opportunity: It is<br />

common to react to change, adversity,<br />

challenges, and circumstances beyond<br />

our control. We can be overwhelmed,<br />

frustrated, anxious, and even lose<br />

control of our emotions.<br />

The improvement is in the ability to<br />

pause, reflect and respond intentionally.<br />

When I catch myself moving into<br />

reaction, I try to consider: “Where's the<br />

opportunity? What can I learn from this?<br />

How can I grow from this? And how am I<br />

going to show up in this moment? It pays<br />

to be acutely aware of our presence's<br />

impact on others.<br />

Develop rituals and routines: The best<br />

way to start managing your time is at the<br />

beginning of your day. Create routines,<br />

whether exercising, meditating,<br />

journaling, reading, spending time with<br />

your kids, or organising your day.<br />

If your morning routine is intentional<br />

— and positive — it will put you in the<br />

right mindset.<br />

Serve others and lift them up: When<br />

faced with adversity or less-than-ideal<br />

circumstances, one way to redirect<br />

yourself from complaining is to look at<br />

the opportunity to serve others.<br />

Where can you contribute? It helps<br />

to take the attention from yourself<br />

and place it where you can make a<br />

meaningful difference.<br />

Play from here: Accept the<br />

circumstances. Bad things happen,<br />

things that aren’t fair, and we make<br />

mistakes — complaining changes<br />

absolutely nothing. So, feel your<br />

emotions and let them go.<br />

RYAN ESTIS is a bestselling author,<br />

keynote speaker, the founding partner of<br />

ImpactEleven and a globally recognised<br />

sales and leadership expert.<br />

Visit: ryanestis.com<br />

46 | <strong>September</strong> <strong>2024</strong>


BUSINESS<br />

Management<br />

Getting ready for the most important time of year<br />

The holiday period is often crucial for jewellery retailers.<br />

DAVID BROWN explains how to put your best foot forward.<br />

As a seasoned retailer, you’ll be more<br />

than aware that the Christmas season<br />

isn't just a busy time.<br />

Ensure you have plenty in stock<br />

and consider bundling them with<br />

complementary products.<br />

It's a crucial opportunity to shine and<br />

exceed expectations.<br />

It can transform your year from ordinary<br />

to extraordinary. Likewise, it can<br />

quickly turn a promising start into a<br />

disappointing finish.<br />

A significant percentage of your annual<br />

sales, sometimes as much as 25 per cent,<br />

can be attributed to this time of year.<br />

Given that your costs won’t vary as<br />

greatly as your sales during this<br />

month, the impact on profit will be<br />

even more significant.<br />

Without a successful December, the<br />

average store could be missing 90 per<br />

cent of its profit targets for the total year.<br />

You can never start planning too soon<br />

for this time of year. Here are a few<br />

suggestions for what needs to be<br />

implemented before this period.<br />

Training makes perfect<br />

First things first: your team is your<br />

greatest asset. It may be a cliché;<br />

however, that’s because it is true.<br />

Before the Christmas rush hits, invest<br />

time in training.<br />

Refresh everyone on customer service<br />

essentials, highlight critical products,<br />

and ensure they're well-versed in your<br />

promotions and policies.<br />

A well-prepared team not only boosts<br />

sales but also enhances customer<br />

satisfaction—a win-win for any business.<br />

Make sure your most talented staff are<br />

given the best opportunities to shine.<br />

Make sure the basics are automated, so<br />

no additional thought is required when the<br />

pressure is on.<br />

Review your sales from last year for the<br />

proven performers that always sell well.<br />

This will be a good indication of whether<br />

you need spare inventory for this year.<br />

Keep an eye on consumer trends and<br />

adjust your inventory accordingly.<br />

Whether it’s the latest tech gadgets or<br />

eco-friendly products, having what’s hot<br />

can set you apart from the competition.<br />

Spread the word<br />

In today’s digital age, advertising isn’t<br />

just about hanging up a few posters.<br />

Social media, email campaigns, and<br />

targeted ads are your allies.<br />

Plan your marketing strategy well in<br />

advance - it's can't be a last-minute job.<br />

Highlight your best sellers, showcase<br />

limited-time offers, and create a sense<br />

of urgency!<br />

Engage with your audience by sharing<br />

holiday tips, gift guides, and behind-thescenes<br />

peeks—it’s all about building<br />

excitement and driving foot traffic.<br />

Highlight your<br />

best sellers,<br />

showcase<br />

limited-time<br />

offers, and<br />

create a sense<br />

of urgency!<br />

Moreover, keep an eye on emerging trends.<br />

From sustainable gifts to experiential<br />

presents, staying ahead ensures you<br />

meet evolving customer preferences.<br />

Going Above & Beyond<br />

Finally, going the extra mile isn’t just<br />

about products and promotions—<br />

it’s about the experience.<br />

Create a festive atmosphere in-store with<br />

cheerful decorations and seasonal music.<br />

Offer complimentary gift-wrapping<br />

services to ease your customers’<br />

holiday stress.<br />

Consider hosting unique events like<br />

exclusive shopping nights or product<br />

demos to attract shoppers and<br />

foster loyalty.<br />

The Christmas season isn’t merely<br />

a busy period; it’s an opportunity to<br />

elevate your retail game.<br />

By focusing on training, optimising stock<br />

assortments, strategic advertising,<br />

and staying attuned to consumer<br />

preferences, you can ensure your<br />

business not only survives but thrives<br />

during this crucial time.<br />

Remember, the little extra touches leave<br />

a lasting impression and keep customers<br />

coming back year after year.<br />

This period is crucial for exceeding<br />

expectations and can elevate your year<br />

from ordinary to extraordinary or lead to a<br />

disappointing finish.<br />

As mentioned, up to 25 per cent of<br />

annual sales may come from this time,<br />

significantly impacting profit due to fewer<br />

variable costs.<br />

Planning early is essential to avoid missing<br />

profit targets.<br />

Stock assortments<br />

Getting your stock assortment right is a<br />

delicate dance. Yes, holiday classics like<br />

festive decorations and timeless gifts are<br />

must-haves.<br />

However, don’t underestimate the power<br />

of trending items. Not everything will be a<br />

repeat seller.<br />

Best sellers & what’s trending<br />

Speaking of best sellers, understanding<br />

your top-performing products is critical.<br />

Analyse sales data from previous seasons<br />

to predict this year’s winners.<br />

Is there a particular item that always flies<br />

off the shelves?<br />

So, gear up, get creative, and make this<br />

Christmas season your best one yet!<br />

DAVID BROWN is co-founder<br />

and business mentor with Retail<br />

Edge Consultants. Learn more:<br />

retailedgeconsultants.com<br />

<strong>September</strong> <strong>2024</strong> | 47


BUSINESS<br />

Marketing & PR<br />

Your business is ready for a<br />

marketing makeover: Part III<br />

When did you last reflect on your marketing strategy?<br />

GEORGANNE BENDER and RICH KIZER return for the final chapter of this series.<br />

In the third and final chapter of<br />

this series on business strategy<br />

revitalisation, we turn our attention to<br />

critical marketing ideas.<br />

Create a weekly bag stuffer and hand one<br />

to every shopper—it's important to get<br />

them into the customers’ hands.<br />

Most of the stories presented by local<br />

media come from a press release, so send<br />

one for each newsworthy thing you do in<br />

your store, including awards, big events,<br />

famous visitors to your store, contest<br />

winners, and charitable works.<br />

Social media<br />

Regardless of the name, if you pre-stuff<br />

them into bags, they will not get read. Use<br />

your bag stuffers to advertise specific<br />

products, events, or anything important<br />

that week.<br />

Ramp up your social media presence.<br />

Unless you have a dedicated marketing<br />

employee, choose one or two social media<br />

platforms and commit to keeping them<br />

current.<br />

Build a ‘brag sheet’ that lists your<br />

store’s services, awards, conveniences,<br />

merchandise categories, brands, social<br />

media handles, return policy, and<br />

hours—everything that’s important to<br />

your customers.<br />

Print it on the back of your weekly bag<br />

stuffer, and add it to your website, social<br />

media, and email blasts.<br />

Send an email blast at least twice a<br />

month. Choose a professional email<br />

marketing company to create your<br />

campaigns. Constant Contact, Email<br />

Contact, SnapRetail, and Mail Chimp are<br />

retailer favourites offering a free trial.<br />

Try them all, and then stick with what<br />

works best.<br />

Every email blast should have a clear<br />

message encouraging the reader to act by<br />

visiting your website or visiting your store.<br />

Collect customer email addresses<br />

organically. Place a sign-up sheet at the<br />

register and on your website.<br />

Host contests where the winner is<br />

notified via email and make asking for<br />

the customer's email part of the regular<br />

checkout process.<br />

Pepper your emails with large photos and<br />

less copy. People don’t like to read long<br />

blocks of text, so keep the message short<br />

and sweet.<br />

Make every photo clickable, taking<br />

the reader to your website for more<br />

information or to purchase.<br />

The reader should take at most<br />

20 seconds to fully understand<br />

your message.<br />

Research has found that 64 percent of<br />

people open an email because of the<br />

subject line alone.<br />

Make sure yours are compelling!<br />

Measure your results. Every email<br />

marketing company provides detailed<br />

reports on customer responses. Keep<br />

the techniques that work and tweak<br />

those that don’t before sending your<br />

next email blast.<br />

Host one major or two minor instore<br />

events each month. A major<br />

event builds traffic and fills your<br />

store with customers.<br />

Do not confuse a major event with<br />

something that takes a long time to plan.<br />

A class, trunk, or fashion show can be a<br />

big undertaking, but it’s not a major event<br />

unless it attracts potential customers who<br />

come to watch and buy something while<br />

they’re there.<br />

A minor event might be a Saturday full<br />

of demonstrations and mini-classes.<br />

Minor events draw customers to your<br />

store but should not take much time to<br />

plan or implement.<br />

If the concept of events and promotions<br />

is new to you, then begin by running one<br />

major event and one minor event for each<br />

month of the year.<br />

If you’re already running events on a<br />

regular basis, you can add as many as you<br />

are comfortable adding.<br />

Create a marketing and promotions<br />

calendar for each month of <strong>2024</strong>. List<br />

dates and deadlines for each part of your<br />

marketing efforts, including in-store<br />

events, promotions, Facebook Live<br />

broadcasts, classes, email blasts, and<br />

social media posts.<br />

Contact local media and pitch stories<br />

about your store.<br />

Unless you have<br />

a dedicated<br />

marketing<br />

employee,<br />

choose<br />

one or two<br />

social media<br />

platforms, and<br />

commit to<br />

keeping them<br />

current.<br />

Your business should be on Facebook and<br />

Instagram. Posting daily is the optimal<br />

goal; three times a week is the minimum<br />

you can do to keep followers interested.<br />

Continue to boost your business online,<br />

as online selling is here to stay. Keep<br />

your website up to date and choose an<br />

e-commerce platform.<br />

Make Facebook Live broadcasts a major of<br />

your marketing. If you haven’t tried it yet,<br />

it’s time to get on board. Choose a daily or<br />

weekly time slot and stick to it.<br />

Instagram is more than just posting<br />

photos. Instagram Live is similar to<br />

Facebook Live; Instagram stories<br />

allow you to post photos and videos<br />

that disappear after 24 hours, and<br />

reels let you create and post videos—<br />

people love videos!<br />

There are even more options available,<br />

but it's okay to just post photos on your<br />

Instagram grid.<br />

Use hashtags to expand your reach. Posts<br />

with hashtags have more engagement<br />

than those that don’t. Without a hashtag,<br />

your posts only go to the people who follow<br />

you, but posts that include hashtags can<br />

reach anyone who follows that hashtag.<br />

Google ‘best hashtags for X’ to get you<br />

started. Be sure to include a hashtag for<br />

your store, such as #nameofyourstore.<br />

Retailers are some of the most resilient<br />

people in the world. There is no limit<br />

to what you can do when you put your<br />

mind to it.<br />

RICH KIZER and GEORGANNE BENDER<br />

are retail strategists, authors and<br />

consultants. Visit: kizerandbender.com<br />

48 | <strong>September</strong> <strong>2024</strong>


BUSINESS<br />

Logged On<br />

Take customer experience to a<br />

new level: Part II<br />

Artificial Intelligence has changed the retail game.<br />

JEANNIE WALTERS reveals why it’s important to stay on top of evolving trends.<br />

In the second part of this series on<br />

Artificial Intelligence (AI) and its impact<br />

on retail, we begin by emphasising the<br />

importance of understanding the ways<br />

in which these programs can shape the<br />

customer journey.<br />

Generative AI is already reshaping how<br />

customers and businesses interact, learn<br />

from and about one another, and plan the<br />

next steps.<br />

Today, you probably have some experience<br />

interacting with AI as a customer. I bet you<br />

can relate to the following points.<br />

Hyper-personalisation<br />

Allow AI to create a base copy of each asset<br />

that you can refine, customise, and share<br />

with customers when they need it.<br />

You could also assess specific<br />

programs or teams to see where AI<br />

could be most helpful.<br />

The journey toward AI-enhanced customer<br />

experience is ongoing and dynamic.<br />

To truly leverage AI, we must address key<br />

considerations such as pinpointing specific<br />

problems AI can solve.<br />

It's also important to ensure data structure<br />

and accessibility, navigating bias, and<br />

upholding ethical standards.<br />

This is not just about addressing<br />

customers by their names but<br />

understanding their unique preferences at<br />

a granular level.<br />

AI analyses individual purchase history,<br />

browsing behaviour, and social media<br />

activity to craft experiences that resonate<br />

on a one-to-one level.<br />

Streamlined interactions<br />

Customer support AI chatbots are<br />

revolutionising the way we handle<br />

routine queries.<br />

They provide timely information, guide<br />

customers through their journey, and<br />

improve response times.<br />

This not only enhances customer<br />

satisfaction but also can potentially reduce<br />

operational costs.<br />

Predictive analytics<br />

AI algorithms can sift through vast<br />

amounts of customer data.<br />

This allows us to identify patterns and<br />

trends, anticipate needs, and tailor<br />

our offerings.<br />

Sentiment analysis grants us a window<br />

into our customers' emotional landscape,<br />

giving us the ability to discern their<br />

opinions and attitudes and find specific<br />

pain points to address.<br />

Getting started<br />

There are likely many areas across your<br />

customer journey where AI could improve<br />

the experience.<br />

Start a list where you can write down all<br />

your ideas as they come to you during<br />

the workday.<br />

Any successful AI implementation<br />

requires you to have a clear purpose<br />

and measurable goal. What do you intend<br />

AI to accomplish?<br />

How can you measure its success<br />

compared to before? What is a safe place<br />

to test before you take on larger tasks?<br />

AI is best suited in areas where it can<br />

deliver considerable time savings or<br />

improve accuracy. In addition to the<br />

examples detailed previously, consider<br />

the following.<br />

Audio transcription: Use AI to transcribe<br />

audio content and extract insights from<br />

the content or repurpose it for new forms.<br />

Brand monitoring: Monitor for brand and<br />

business mentions and conversations<br />

across social media channels and<br />

online communities.<br />

AI can sort<br />

through user<br />

reviews and<br />

messages as an<br />

‘early warning<br />

system’ of sorts.<br />

Start small and be calculated about where<br />

and when you apply AI.<br />

Frequently check in with your<br />

implementation and ask your staff<br />

about unforeseen risks or issues.<br />

As you prove your results, introduce A<br />

in another area.<br />

This strategic approach will enable<br />

businesses to harness AI’s full potential.<br />

This will go a long way towards ensuring<br />

that your brand remains at the forefront<br />

of delivering innovative and personalised<br />

customer experiences.<br />

Transform your business<br />

AI is not just a behind-the-scenes player;<br />

it is now a front-line ally to employees,<br />

equipping them with the knowledge to<br />

deliver exceptional service proactively.<br />

It’s a partnership where AI-powered<br />

automation and human ingenuity lean on<br />

one another to create better customer<br />

experiences, available around the clock.<br />

This is a paradigm shift in personalisation,<br />

support efficiency, and the overall<br />

customer journey.<br />

These advancements are not just about<br />

staying ahead of the curve; they are about<br />

redefining the curve and setting new<br />

standards for what it means to truly know<br />

and serve our customers.<br />

Retail brands have used sentiment<br />

analysis to identify potential incoming<br />

complaints quickly.<br />

AI can sort through user reviews<br />

and messages as an ‘early warning<br />

system’ of sorts.<br />

It’s a great way to discover untold feedback<br />

from customers.<br />

Create support content: Aggregate<br />

customer support conversations and<br />

how-to resources to create new customer<br />

help guides.<br />

JEANNIE WALTERS is founder and<br />

CEO of Experience Investigators.<br />

Learn more: experienceinvestigators.com<br />

<strong>September</strong> <strong>2024</strong> | 49


My Bench<br />

Hazel Oxborough<br />

Artisans Bespoke <strong>Jeweller</strong>s<br />

AGE 34 • YEARS IN TRADE 13 • TRAINING Advanced diploma with Peter Minturn Goldsmith School Auckland • FIRST JOB The Village Goldsmith, Wellington, NZ<br />

SIGNATURE PIECE<br />

JULIET ROSE<br />

Juliet Rose is named after the ‘sweet Juliet’ - the rarest rose<br />

in the world. The uniqueness of the carved pink tourmaline<br />

made it the perfect centrepiece. I created the cluster shapes<br />

of the leaves using tsavorite garnets and the peach sapphires<br />

and spinels are the blossoming rosebuds. The underside<br />

represents the stem and leaves, recreating the 3D element of<br />

the natural rosebush..<br />

FAVOURITE GEMSTONE Padparadscha Sapphire.<br />

FAVOURITE METAL 18-carat white gold.<br />

FAVOURITE TOOL Barette Needle File<br />

and Design Templates.<br />

BEST NEW TOOL DISCOVERY Oval Doming Block.<br />

BEST PART OF THE JOB Designing and sketching.<br />

WORST PART OF THE JOB Polishing compound<br />

ending up on your face.<br />

BEST TIP FROM A JEWELLER Each step is only<br />

as good as the one before.<br />

BEST TIP TO A JEWELLER Trust yourself;<br />

it’s okay to make mistakes.<br />

BIGGEST HEALTH CONCERN ON THE BENCH<br />

Polishing compound and silicon wheel dust<br />

causing lung problems.<br />

LOVE JEWELLERY BECAUSE It is wearable art.<br />

The materials are beautiful and unique, and the<br />

design possibilities are endless.<br />

50 | <strong>September</strong> <strong>2024</strong>


<strong>September</strong> <strong>2024</strong> | 51


OPINION<br />

Soapbox<br />

Designing your dream jewellery store:<br />

Who are you targeting?<br />

Take aim and fire! GORDON SIMMONDS discusses the importance<br />

of designing your jewellery store with a specific audience in mind.<br />

When designing the layout of your<br />

jewellery store, it’s always crucial to ask<br />

yourself who you’re hoping to attract.<br />

In modern retail, consumers come in all<br />

shapes and sizes. Preferences and tastes<br />

vary, and you must clearly understand who<br />

you’re hoping to have in your store when<br />

assessing the layout.<br />

Does The Sentimentalist visit your store<br />

often? These customers are interested in<br />

high-quality jewellery with sentimental<br />

value – it must look timeless.<br />

These purchases are usually carefully<br />

planned and rarely occur on impulse.<br />

You might consider these people to be<br />

‘experienced’ jewellery consumers.<br />

These people enjoy participating in<br />

the selection, buying and ownership<br />

experience. They may include selecting<br />

the diamond, choosing their style, or<br />

simply understanding the qualities.<br />

Speaking generally, they are often<br />

well-informed and well-educated about<br />

jewellery, and although value is significant,<br />

price is not the determining factor.<br />

These consumers are looking for the<br />

‘complete service package’ and want to<br />

enjoy the entire experience.<br />

These consumers are happy to create an<br />

ongoing relationship with a jewellery store.<br />

They will return for other services, such as<br />

cleaning and repairs, if they feel the staff's<br />

expertise warrants it.<br />

The next consumer archetype to consider<br />

is The Gifter. These people know little<br />

about jewellery, and frankly, they often<br />

don’t even enjoy shopping!<br />

That said, they understand jewellery<br />

constitutes a significant intimate gift<br />

usually reserved for close family members.<br />

As an additional note, they desire guidance<br />

and advice from a figure of authority.<br />

They consider it an essential part of any<br />

outfit and wear it often.<br />

These consumers wear many different<br />

kinds of jewellery and, perhaps because of<br />

that, shop at many jewellery businesses. I<br />

would describe this group as ‘optimistic’.<br />

This group is conscious of the image they<br />

project and wants to ensure they make<br />

the correct purchase. They may purchase<br />

jewellery for others or themselves, and<br />

their products may be used to show status.<br />

Influencers have become a prime target<br />

for major brands. This group aligns<br />

with what’s considered the ‘visible<br />

achievement’ segment.<br />

This refers to a pattern of responses<br />

often offered by consumers who wish to<br />

be‘visible success stories’. They may have<br />

‘made it’ in whatever field they are involved<br />

in and are confident in their abilities.<br />

Despite success, research suggests<br />

they retain traditional home, work, and<br />

societal values. Family is important to this<br />

segment, and they emphasise providing<br />

for loved ones. While they might be able to<br />

afford the best of everything, they look for<br />

quality and value for money!<br />

It’s always important to be mindful of<br />

the Practical Shopper. These customers<br />

are ‘low-key’ purchasers who prefer<br />

inexpensive jewellery that can be worn<br />

daily — even if they have the budget for<br />

premium products.<br />

They are fashion and trend-conscious<br />

and wish to stand out from their parent’s<br />

generation; however, they also aim to<br />

conform to their peer group.<br />

In other words, they are looking for<br />

jewellery that symbolises fun and freedom<br />

while remaining a part of ‘their generation’.<br />

In terms of purchasing patterns, these<br />

consumers are focused on the short-term.<br />

Preferences and<br />

tastes vary, and<br />

you must clearly<br />

understand who<br />

you’re hoping<br />

to have in your<br />

store when<br />

assessing the<br />

layout.<br />

Information, reviews, and opinions are<br />

all shared instantly in the digital world –<br />

sometimes while the consumer is still in<br />

the store!<br />

The key is to focus on providing these<br />

customers with a shopping experience. It<br />

is critical to spend the time to generate a<br />

connection, whether it be with information<br />

and education or special efforts that make<br />

the customer feel rewarded for shopping<br />

with your business.<br />

The future of retail involves removing the<br />

traditional counter barrier and replacing it<br />

with deeper interactions with customers<br />

who feel connected and in control.<br />

This can be done in many ways,<br />

including unique experiences such as<br />

customisation, which allow consumers<br />

to create memorable experiences where<br />

they feel rewarded for merely visiting<br />

your store.<br />

These consumers can move seamlessly<br />

from the ‘virtual’ world to the physical<br />

stores during their shopping journey.<br />

Finding the future<br />

It’s often been said that the future of<br />

jewellery retail is in bespoke and custommade<br />

designs. Younger consumers are<br />

embracing handmade pieces and moving<br />

away from mass production.<br />

While that may seem like a shift towards<br />

convention and tradition and a step away<br />

from ‘modernity’, the key to connecting<br />

with many consumers will involve a digital<br />

component, whether that be your website<br />

or social media.<br />

There are many steps involved in<br />

designing your dream jewellery store;<br />

however, for those struggling to find<br />

somewhere to begin, it’s best to start<br />

by clearly defining who shops with<br />

your business and who you would like<br />

to attract.<br />

In other words, they want to be sure they<br />

buy from a trustworthy store. If a trustbased<br />

relationship cannot be created, they<br />

will shop purely on price.<br />

Do you encounter many Stylish Shoppers?<br />

These customers appreciate the extra<br />

flash and 'pazzazz' they get from jewellery.<br />

The final archetype worthy of consideration<br />

is the Connected Customer. Modern<br />

consumers can inform, market, and brand<br />

your product at the push of a button.<br />

Never before have consumers had access<br />

to so much information, and modern<br />

retailers must embrace these conditions.<br />

Name: Gordon Simmonds<br />

Business: <strong>Jeweller</strong>y Design Solutions<br />

Position: Founder<br />

Location: Muirarrie, Queensland<br />

Years in the industry: 35<br />

52 | <strong>September</strong> <strong>2024</strong>


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