In This Guide
Diamond companies have changed the way they do business since the pandemic arrived. Since early this year, COVID-19 has forced many businesses to change their methods. The in-person method of transacting has become mostly virtual to keep everybody safe. This has been happening to man industries already and will continue for as long as the coronavirus persists.
Basic Ways of Adapting
Since March 2020, many diamond and jewelry retailers have started to implement the following, thereby changing the nature of their business:
Visual Consultations
Diamond and gem jewelers need to provide their expert services despite the COVID-19. They had to hone their technological premises through virtual consultations and online shopping. It is only natural for their clients to turn to the vast access of the Internet. Until the pandemic ends, those who are thinking of gifting jewelry will resort to online transactions.
Thankfully, most jewelers are already offering consultations via video calls, phone conferences, or emails. These are proving to be highly effective for people who want to give diamonds and other jewelry. The consultations are always one-on-one. This enabled clients to have a personalized experience in shopping for jewelry. When their needs are met, retailers only get positive feedback, which strengthens their business despite the pandemic.
Strong Brand Story
Although the pandemic makes many people hesitant to spend on luxury items, there are still those who will pay the cost of jewelry that has significance. That is why diamond and gem companies do their best to strengthen their brand story.
Telling the world that their jewelry pieces hold more value than money tends to entice clients to purchase pieces to which they can connect. Independent jewelers are now highlighting their origin stories, sharing their passion for what they do. This makes the clients relate more to them.
Priority to People
Studies show that when customers find the company focused on profit more than their benefit, they tend to lose trust in the brand. This is not actually new. Many retail companies in the diamond industry want to improve their efforts in making their clients feel safe while shopping.
If the jewelry store owners want to remain open, they must ensure the safety of their customers. They should follow the guidelines of the government, undergo a COVID-19 assessment, and place safety markings. Also, they should place signages for directions, install automatic doors, and implement contactless payment methods. All these make sure that customers are safe when they enter the jewelry store.
Rethinking Customer Engagement
During this pandemic, the diamond industry had to reconsider the way they engage their customers. It is no secret that most jewelry and watch stores are closed right now. Even so, companies in the jewelry industry know that they have to survive. They have to look outside their physical capabilities and tap their online channels. Doing so allows them to recover from their early pandemic losses and stabilize their earnings.
Jewelers are now turning to social media to strengthen their collections and jewelry lines. Social media platforms such as Instagram and Pinterest are the main channels that ensure visibility.
Cost Cuts
Because of the impact, the pandemic has on the economy, many diamond and jewelry companies are going synthetic. They are also using recycled silver and gold.
What the Diamond Industry’s Top Retailers Are Doing
Here are some changes that top diamond retailers are implementing because of the pandemic:
Boodles
The British jeweler wants to be an escape to their customers during the pandemic. It does so by posting inspiring and heart-warming content on social media networks.
Laings
Having survived two World Wars, Laings stays strong during this time of uncertainty. The company is offering its customers the chance to buy special pre-owned pieces. The prices are up to 50 percent off.
Watches of Switzerland
While most companies close, Watches of Switzerland opened Mappin & Webb luxury boutiques in York and Kingston. The company ensures its customers can shop safely because they follow government guidelines. Its stores also carry out measures that ensure the safety of employees and customers.
Swarovski
The company declared through social media that most of their staff are doing their work from home. Swarovski is also coming up with decisions regarding the reduction of trading hours in their Ireland and UK stores.
When the company’s stores are open, the personnel make sure that they implement measures to prevent the spread of COVID-19. Swarovsky continues to provide a good online shopping experience to its customers through its free global shipping offers.
Pandora
This huge jewelry company does its best to keep all the store surfaces clean. The stores put in place government guidelines to prevent the spread of COVID-19. Pandora also reminds its customers not to try on diamond jewelry or any piece in their stores.
This huge jewelry company does its best to keep all the store surfaces clean. The stores put in place government guidelines to prevent the spread of COVID-19. Pandora also reminds its customers not to try on diamond jewelry or any piece in their stores.
