As the end of the year approaches and more and more European countries are going into a second lockdown, one of the many questions retailers are asking is: what can we expect from the Christmas trading period?
We all know it is extremely difficult to predict how the next few months will end up performing. But people still want to celebrate, and not just Christmas. Birthdays will still be happening, babies will still be born, and anniversaries will still go on. People are craving connection. People are missing people and will want to give something that shows they love them and are thinking about them. We believe customers are ready to buy. Many have actually never really stopped buying. Their spending appetite has been the same or can be larger as they haven’t been spending money on dining out or holidays. A lot of our retailers are reporting higher price point items like diamonds have increased in sales. In this case, lab-grown diamonds have become a rising trend that is set to continue even after COVID-19.
Personally, I’m expecting to see a successful Christmas trading period for the most proactive retailers, with a shift in business being done via digital channels. Still, we also know that unless consumers know exactly what they want, buying jewellery online is not so easy. For those customers wanting to buy online, it will be important for retailers to trigger and maintain consumer interest via digital channels. This will include launching new jewellery lines to keep the online window-shopping fresh and customers engaged.
Many other customers will be more eager to go to shopping centres and high streets.
We know the high street has selling points that online shopping does not have, and I expect jewellers to focus on pushing these as much as they can. During the lockdown period it is important for retailers to still be proactive and launch new lines to keep their window fresh and customer engaged. For the shops that are still open and the ones that will reopen, welcoming customers individually in the shop creates both a safe shopping environment, and a very personalized shopping experience that can be so much more that the rapid, impersonal cold buy and online sell.
Let’s hope my predictions and hopes will come true. At Madestones we will do our best to support you in achieving a successful end of year season. Let us know how we can better help you to be succesful with your customers. Our sales team is fully at your service and we look forward to working with you.
Meanwhile, think positive and test negative!
Founder and CEO