Jewelers Going Digital

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Digital transformation for jewelers is inevitable

A coalition of leading retail jewelry providers and professional organizations has surveyed the jewelry industry landscape to get a clearer picture of how retail jewelers are managing the digital transformation of their sales and marketing operations accelerated by the demands of a global pandemic.

The survey was conducted in October/November 2020 among retail jewelers to identify their digital practices and transformation in the wake of COVID-19.

  • Among the 460 responses we analyzed more than 200 completed surveys.
  • The majority of retailers who responded represented independent jeweler retailers within the continental United States.

The impact of COVID-19 has made the digital transformation of retail jewelers more imperative than ever before.  By limiting face to face, in store visits either through mandated closures or consumer fears, jewelers have been forced to consider their marketing spending focusing in many cases on a bigger and hopefully more effective online presence.

Still other jewelers appear to be cautiously marking time, even reducing their promotional spend during the pandemic. The stakes are high, especially as a second wave of the virus appears to be impacting the Christmas holiday season.

Even as the pandemic has curtailed in store visits, two out of three retail jewelers still rely on in-store visits as their primary sales channel.  While there is surely no replacement for face-to-face contact in making a fine jewelry or watch purchase (Blue Nile, for example, is now opening its own retail locations), COVID-19 has inevitably accelerated what can only be called the digital transformation of the jewelry industry.