The JA Report: News, Tips & Trends from Jewelers of America

Bridal Jewelry for the Next Generation

While bridal jewelry endures, jewelry businesses need to stay ahead of the curve in terms of what younger couples are looking for. Industry analyst Ken Gassman, who spoke at last month’s JCK Show in Las Vegas, says that young consumers want to stand out from the crowd when it comes to bridal jewelry, from the engagement ring to the wedding day (and if you get it right, beyond).

He offered the following tips on how to sell bridal to your next generation of customers:

Tap Into the Enduring Power of Bridal

An engagement ring can be a gateway for a lifetime of purchases, if a jeweler takes advantage of the opportunity. That’s a fact we shared last week, when we discussed ideas for staying connected with engagement ring customers. Today, we share more key messages from The Knot’s Miriam Alexander, who presented numerous facts and figures during her JCK Show presentation, “Understanding Consumer Behavioral Shifts.”

In addition to noting the importance of bridal as a “gateway,” Alexander shared the following takeaways:

Stay Connected to Bridal Customers

If an engagement ring customer hasn’t become a customer for life (or at least, a customer for all their bridal jewelry), your store may need to reconsider its approach to relationship selling. A recent survey conducted by The Knot Wedding Network found that among the 9,000 recently married couples surveyed, 4 out of 10 said the retailer they bought their engagement ring from didn’t stay in touch. That’s a missed opportunity for those retailers, a fact echoed by a number of presenters during the JCK Show in Las Vegas.

The Knot’s Miriam Alexander, presented that statistic and others in “Understanding Consumer Behavioral Shifts.” She noted the importance of bridal as a “gateway” for jewelers to begin a long-term relationship with customers.

Here are some ideas to help you cross through that gateway, versus letting the door shut on future business:

TIPS IN ACTION: RETAILERS WHO THRIVE

Be an Engagement Event Destination
Jeweler Cindy Lis, Diller Jewelers, West Reading, PA, shows how

Jewelry Information Center’s recent Ultimate Proposal Contest received an outpouring of jewelry proposal stories at JIC.org. They show what a special, memorable – and universal – moment the wedding proposal is to a man and woman.

As retail jewelers, if you aren’t capitalizing your unique position to be a key part of these special moments – you are missing out on an invaluable customer-relations opportunity. You should not consider yourselves in the business of only selling the jewelry – but should become a part of the engagement event.

Jewelers of America member Cindy Lis, owner of Wm H Diller Jewelers, in West Reading, PA, understands the importance of capturing the engagement moment with her customers. The independent specialty jeweler is the oldest jewelry store in its county. Since 1914, it’s thrived by building personal, and lifelong, relationships with its customers.

Lis shares how Wm H Diller Jewelers not only becomes the setting for the engagement ring sale – but the engagement event as well:

Be Part of the “Perfect Engagement” Story

To most Americans, buying an engagement ring is a daunting experience. That’s why retailers that get it right are not only part of the most exciting time in couple’s lives, they develop lifelong customers in return.  Over 630 consumers have entered their “Ultimate Proposal Story” in Jewelry Information Center’s Ultimate Proposal Contest. JA Director of Consumer Communications (and JIC spokeswoman) Amanda Gizzi has found inspiring marketing ideas for jewelry retailers from the story entries. She shares her favorites here.

Use these ideas to connect with your engagement customers and help them create the perfect engagement story:

Pamper Brides

Bridal customers don’t begin and end with engagement rings and wedding bands. As the Jewelry Information Center suggested in last week’s bridal tip, the category goes well beyond these staples. You can create a section dedicated to bridal party gift ideas for everyone from the bride to the flower girls.

This week we focus on the bride, who will very likely influence all of these purchases. As she prepares for her big day, you want her to be loyal to your store, so make it a part of the celebration.

Some ideas to thrive with bridal sales and relations:

Expand Your Bridal Focus

Bridal business is big business. For lot of retailers, bridal jewelry is their core, bread and butter business.  That is partially because even during uncertain times, weddings will always take place and bridal jewelry will always be meaningful and necessary.

However, jewelry still makes up a very small portion of the multi-billion dollar wedding industry. It is the job of retailers to get future brides and grooms thinking beyond the engagement ring and get a greater chunk of wedding budgets.

Jewelry Information Center (JIC) has suggestions to thrive in bridal accessories and gifts:

• Emphasize the complete package. Platinum Guild’s three-platinum-rings campaign takes on this issue by encouraging consumers to think about three rings (engagement ring and his and her wedding bands, like the Novell set below) rather than just one.

 

Focus on Bridal

Even during tough times, people get married.

How to Thrive in Bridal:

• Differentiate your store with non-traditional settings. Have good examples of rings with colored gems (left), for instance, and rings that offer more than the traditional solitaire diamond. Be open to brides who might choose a gem-set  band as an engagement ring (right).    

Bridal Events: Have a Bridesmaid Appreciation Party

With so much focus on “June” brides, why not offer the bride an event that focuses on her best gal pals? Make their bridal jewelry and gift purchases easy and stress-free.

How to Thrive with Brides and Bridesmaids:

• Create an environment where the bridesmaids can try on jewelry to match their dresses (even if they’ll never wear them again).
• Get an expert to suggest makeover and/or style tips for the big day.
• Provide a selection of affordable, sentimental, matching charms, to give the bride ideas for bridesmaids’ gifts.

Focus on Bridal

Even during tough times, people get married.

How to Thrive in Bridal:

• Differentiate your store with non-traditional settings. Have good examples of rings with colored gems (left), for instance, and rings that offer more than the traditional solitaire diamond. Be open to brides who might choose a gem-set  band as an engagement ring (right).