It went something like this. Prior to the global pandemic, top jewelry retailers flaunted their prowess in the fine art of high-touch service. When it comes to luxury goods – the more high touch the better. Luxury shoppers want to be fussed over and treated as if they’re the only customer that store will ever have.
So personalized attention, and of course handling the items makes for a unique experience that allows a consumer to be certain they must have that piece.
Putting the Brakes on Business
Covid-19 put the kibosh on the instore experience – for a couple of years. During that time, consumers developed a penchant for online shopping. The advantages were simple. Shop at your convenience 24/7, and in your pajamas if you like. Solicit pre-purchase opinions from your tribe via Zoom or FaceTime. Don’t like it? No problem. There’s a preprinted return label in your shipment guaranteeing a full refund.
It Wasn’t All Bad
“There is a silver lining in the pandemic era shift to online shopping,” found Jesse Balaity, owner of Balaity Property Enhancement in Sarasota, Florida. “Jewelers were forced to invest in their websites with live inventory, better photography, and most importantly, a shift from templates to online experiences that capture their individual store cultures.” And this is key Balaity says, those returning customers to in-person shopping are armed with greater product knowledge and affection for the brand. “Anecdotally, my clients report that customers are returning. They still crave the touch and feel of jewelry and the luxury experience.”
So of course, retailers are revisiting the impact of their instore experience and realizing it might be time to up their game as consumers flock back to the stores. Some retailers have not touched their selling space for decades, while others keep it minimally fresher with frequent smaller interior changes that speak to their market.
Ask Yourself
In whatever place you find yourself, assessing your goals with a professional can make all the difference. It ends up saving money, which may seem counterintuitive initially. Well thought out goals with a critical eye on the store’s current situation prevents missteps from occurring along the road to renovation.
You have questions – the pros have answers. How old is your current store’s interior and front exterior? Are you shifting your sights on who your core customer is? More posh? Or maybe the reverse. Perhaps you now want to attract casual shoppers buying impulse purchases. Are you at that stage of rebranding to match modern expectations?
By reaching some crucial answers, you’ll create solutions that make sense for your brand. If your business model has shifted over time, make room for that too. Are you doing more custom work now – or are your customers buying more vintage and antique pieces? Make room for the success of your business by allocating additional square footage for those growing areas where needed.
Each Jeweler is Unique
There’s no one-size-fits-all in the jewelry landscape, however. And there is no single answer to these questions, as Yusuf Bas, owner of Gal Interiors points out. “It depends on the customer type. Some of them have kept the same store for over 20 years.” Others, he says, “only change their current showcases and keep the exact same products. Then some are looking to refresh the store’s design. It all depends on the customer.”
There is something that shouldn’t be overlooked. A store owner knows more than anyone else who their customer base is – and that is a foundational consideration for a store’s update. “Interestingly, especially for mid-range stores that do not cater to high-end customers, there is a concern that the store’s appearance after renovation might look too luxurious,” Bas cautions.
“They worry that if their store appears too high-end from the outside, their target customer may be hesitant to enter.” It’s at that point that Gal Interior’s design team steps up with designs that meet the desired features and style, helping to alleviate these concerns.
Independent Retailers
Balaity observes several trending patterns emerging now. “I see more smaller market jewelry stores making serious investments to create big city retail experiences. They’re no longer content to be just the hometown jeweler for lower ticket purchases and repairs. They see the value in giving customers a reason not to travel for their bigger purchases, even when that means more building area and more expensive finishes.”
Still some mom and pop jewelers with a long standing presence in the community take the ‘if it ain’t broke, don’t fix it” approach. Gal Interior’s Bas offers insight to help these jewelers form the right mindset. “Jewelry design and fashion trends change over time,” Bas points out. “Updating the store design helps keep the store relevant and attractive to customers who follow current trends. Modern and fresh store designs can enhance the shopping experience and attract a younger, trend-conscious demographic.”
With regard to optimizing the store’s functionality, Bas says, “A redesign can address any functional issues in the store layout, improving the flow and accessibility for both customers and staff.”
Prioritize Updates
Interior designer Leslie McGwire, owner of Leslie McGwire & Associates, offered a wealth of common sense for updates in a Rapaport article “When to Remodel Your Store”, October 14, 2023. Her top redesign considerations are Cost, Proper Lighting and Displays, Proper Color Schemes, and Least Inconvenience during the renovation.
Bigger jobs can appear overwhelming to retailers who’ve never tackled a renovation before. The good news is it doesn’t all have to happen at once, especially when the updates are super-pricey.
“First, I give my clients a ‘wish-list’ with their goals, desires and needs for the entire space,” McGwire explains. “The wish-list has everything from how many linear square feet of diamonds they need to display, how many square feet of watches they must show, the companies that they are working with and the companies that they want to work with. This gives me an idea of how many jewelry cases are necessary in the space plan, lighting, color scheme, floor style and much more.”
The Experience Matters
And speaking of diamonds, this niche often represents a retailer’s biggest revenue stream. Bill Warren, owner – president at Gold Mine Fine Jewelry & Gifts in Hudson, North Carolina points out something critical to delivering a luxury experience to diamond customers. “It is nice to see private viewing areas for diamond customers. One thing that has been crucial for us was putting in a custom jewelry design center where we do CAD CAM.”
Warren adds, “From my experience, it makes the client feel special to go into a private area of the store, plus it also removes any distractions that could potentially rob the client of a great experience.”
Balaity sees more retailers engage in out-of-the-box-thinking too. “Clients with shop-in-shops increasingly ask for their non-branded areas to match the levels of quality and design provided by the brands. They are no longer content for those brand zones to outshine their own brand.”
No aspect of a redesign should be left untended, experts say. A true luxury customer experience must include stylish restrooms. “I ask clients to gather inspiration photos for their stores, and inevitably I see beautiful hotel and restaurant bathroom photos,” Balaity reports. “I love this dedication to every detail of the customer experience.”
Safety First
With style and functionality covered, retailers inevitably turn the discussion to security measures that ensure the safety of the store and its staff. “Security is becoming a real priority nowadays,” agrees Bas. “I’d say it is one of the top priorities for all store owners today.”
Case Closed
“To address these concerns, he continues, “we are trying to stand out from our competitors with our up & down case, which we launched at the JCK Vegas Show. This case not only saves our customers the time they spend arranging their merchandise at the beginning and end of each day but also takes security to the next level.”
