Death of the Family Jeweller 2013
I wrote this blog 2 years ago, I find it as relevant today as it was then. Please let me know if your business is suffering from “the Amazon Effect” and how you are dealing with it.
Death of the Family Jeweller and Other Nonsense
Some might say that the family jeweller is a dying breed because the Internet is killing off business on the high street – Nonsense!
There’s always lots of talk about “the Amazon Effect” where many business are worrying that they just can’t compete. And to be honest if you are just selling the same indistinguishable generic products that can be found all over the highstreet, then no you probably can’t compete, at least not on price. If you’re a family jeweller, perhaps with an old family shop, there’s nothing generic or indistinguishable about you is there?
So the answer? Simple, don’t compete. Offer something that the internet doesn’t have and never will; individuality, face to face good customer service, knowledgeable advice, and most of all, the personal touch. The internet isn’t a storm to be weathered, don’t dig your heels in determined not to change. Many a good retailer has gone forever simply because they didn’t adapt.
So, to survive what should you do? Sometimes you need to take an idea and bring it into a new age. In the past, the out of town/country jeweller was the cornerstone of the high street, today faceless, tasteless multiples rule. What you need to remember is that more and more, people want to buy from people they trust, and can develop relationships with. Customers want the personal touch, and when they have a question they want an expert to be on hand to answer it.
And, as jewellers you are in the best position to offer this service. Because the internet, try as it might, can’t hold a beautiful gem up to the light so it sparkles. The internet can’t size a ring finger on the spot. And the internet can’t tell the customer to drop in any time for a free polish!
I think the family jeweller has many years to run before the internet takes a piece of this action, but it certainly can’t rest on its laurels…
You can share your comments on what issues you are facing in your business due to the internet. Also post the steps you have taken to compete with the effects of the internet on the industry..
There’s a stone for every style
This weeks Milan fashion week showed a fabulous range of styles that could be complemented by any number of coloured gemstones. So we have taken the opportunity to look at some of the lines and paired them up with the gem stone that we feel would suit each style best!
Dolce & Gabbana led with tweed black and white herringbone suits. These could as easily be paired with either black or white diamonds, or in a deco setting using both. I think however to really hit the season’s trend, either grey diamond slices or roughly cut grey diamonds should be used, which would really set them off.
Missoni’s light and airy style would work well with so many stones from
contrasting Mandarin Garnet, to very complimentary Sky blue Ceylon sapphires. I favour the latter, as they are extremely versatile and can be worn with anything.
With Andrea Incontri, this simple, but effective use of two
contrasting colour tones leads them to be well matched with something simple but effective. The more earthy tones of some of the African coloured rubies and sapphires, would be an outstanding match to these striking designs.
Emporio Armani’s ensemble says only one thing to me – Aquamarine! There’s
not too much to say here, other than by pairing this outfit with a massive aqua cocktail ring, you would set this collection off to perfection.
My final selection is Max Mar
a. The Camel tones used here scream BROWN DIAMONDS. Any shade range or size will work. I think a mixture of all would add a flair of eccentricity.
Happy Holidays
To all our friends
We wish you a wonderful holiday season.
May 2013 be filled with Health Happiness and Prosperity.
I would like to thank all of you who we have had the pleasure of working with over the last year.
Best wishes
Richard and everyone at International Gemstones and TheGemBank.com
Star Radio’s Jewellery & Fashion Show – May 7th 2012
On the show this week Vanessa Burkitt is joined by Richard Haruni, Gem dealer and Director at The Gem Bank. Also on the show is this weeks Jewellery and Fashion Highlights and a competition to give you the chance to get your hands on tickets to go to an extraordinary event that Catherine Jones is hosting showcasing platinum jewellery.
Download “Star Radio’s Jewellery & Fashion Show – May 7th 2012″ (26.54 MB, 19:19)
What’s your USP?
It’s a tough old business world out there, especially in light of recent news that we could be about to hit a double dip recession. So you might be asking yourself what you can do to make your business stand out in these difficult times where everybody is clamouring for business in an ever decreasing market.
As you already know Vision and Goal setting is crucial to a successful business and this month I have been talking predominantly about Unique Selling Propositions – USP. When anybody starts their own venture they have a vision that their business is going to be unique and the service or product that they are offering is going to be far superior than what is being offered by the competition. And that may be true, but the trick is to let your potential customers know that. In this busy world of ours people want to know who and what you are at a glance. You might have the best, most up to date name around for your business but if you don’t have a USP, customers will pass you by.
One of the biggest advantages of USP’s is that it is a very easy concept to understand. You just need to concentrate on making it work for you and your business. The basic idea is to come up with a few words (a phrase) which suggests to the customer that if they buy this product they will receive this specific benefit. It needs to be unique to your product; something the competitors do not offer. It must say something strong enough to attract attention and pull new customers. Make the phrase revolve around the main benefit of your business. It also has to be something you know your customers are going to care about. Of course, just having any old USP is not enough. It has to be a good one!
You may ask why is it so critical to have a unique selling proposition (USP)? Well actually, this is one of the more important elements to a successful business. Let’s face it, unless you have invented something completely unique you will have business competitors. So it stands to reason that when you are marketing your company you need to make it stand out, to make it memorable and to distance yourself from the competition.
Of course nothing that is worth doing is ever easy. The task of coming up with your own USP can be tough and time consuming but it’s well worth the work. Your business vision is a good place to start, you can use it to help find your USP. By creating a USP, you will be offering something to your target market that will stay in their minds. It can then be used alongside your company name, on all of your sales and marketing literature.
To make life a little easier for you, this month’s planner contains a full explanation and work sheet on how to create your own USP. So if you haven’t already, you might want to start focusing on your marketing by finding your Unique Selling Proposition. Let this be your vision and goal this month.
For more information on finding your Unique Selling Proposition just follow the link www.thegembank.com/yearplanner and sign up to start realising your dreams of business success for 2012!
And the winner is….
When you’re a star studded celebrity walking down the red carpet on your way into the Oscars, you are already aware that the world is watching. As the press surrounds you screaming “what are you wearing?” you already know that the actual winning of an Oscar is only part the fun.
2012 was no different. And as every girl knows, even the most stunning gown would never be complete without accessorising with the latest jewellery designs.
The 84th Academy Awards saw current Hollywood step back in time to old Hollywood. This was the year that a silent French film made all the noise. The crème de la crème of Hollywood stars followed suit, by wearing classic simple dresses and adding the sparkle with large statement pieces of newly designed and vintage jewellery.
Brilliant white diamonds set in platinum were very much the trend this year, with only a few exceptions wearing gold. Elegant jewellery design was very well represented; we saw creations from Anna Hu, Fred Leighton, Harry Winston, Neil Lane, Tiffany & Co, Louis Vuitton, to name but a few.
Natalie Portman opened the trend this year for white diamonds set in platinum by stepping onto the red carpet wearing a stunning utterly timeless platinum and diamond v-shaped cluster necklace with matching earrings all by Harry Winston.
Louis Vuitton proved that charm bracelets are still very much in vogue by loaning Emma Stone their new interpretation of the Charm bracelet from their prefall 2012 High Jewellery Collection.
Not to be out done, Octavia Spencer who won an Oscar for best supporting actress, wore 20 – carat diamond and platinum briolette chandelier earrings with a large diamond and platinum cocktail ring to match by Neil Lane.
Neil Lane also accessorised Angelina Jolie’s little black dress with 20 – carat cushion cut drop earrings teamed with a matching 15 – carat cushion cut white diamond ring.
Tiffany & Co vintage and new designs were worn by many stars. Most notably was Cameron Diaz, who wore an emerald cut white diamond necklace and a large white diamond dome ring to match.
Meryl Streep, winner of best actress for “The Iron Lady”, stood out from the crowd this year as being one of the very few women wearing gold; in the form of large vintage gold drop earrings by Fred Leighton.
Of course not to be outdone the boys completed their red carpet look with beautiful but understated watches. Most notably for this was Jean Dujardin, Oscar winner for Best Actor in “The Artist.” He wore a Jaeger-LeCoultre Memovox Tribute to Deep Sea Watch.
So the future of Jewellery design for this year seems to be at least in part, simple elegant glamour with a touch of old Hollywood class!
I’ve added a few links below for you to get a real eyeful of all the oscar action.
http://www.professionaljeweller.com/pics-10929-red-carpet-jewellery-at-the-oscars-2012/
http://www.thejewelleryeditor.com/2012/02/oscars-2012-and-who-wore-what-at-the-84th-academy-awards/
http://www.adorn-london.com/jewellery-blog/celebrity-style-jewellery-blog/oscars-red-carpet-jewelry-trends/
http://www.ibtimes.com/articles/306566/20120229/oscars-2012-red-carpet-celebrity-jewelry-accessories.htm
Having goals will drive any creative business forward
Our Goals Drive Us Forward
Everyone has dreams* be it business or personal, big or small and most dreams can be turned into goals. The whole point of setting a goal is to help you bridge the gap between where you are now and where you want to be in the future. The reason as to why you should do it, is that it focus’s the mind. It is too easy to get bogged down with the day to day running of your business and to let your goals slide, don’t let the procrastinator that lives within us all win and don’t let the everyday stuff get in the way of you achieving your dreams.
February’s edition of the Creative Year Planner is all about how to set your goals. You will need to register, www.thegembank.com/yearplanner, but it is absolutely free. Below, I go into a little about why goals are important.
Setting Goals Makes Things Happen
By setting your goals and working towards them, it is much easier to attain the things that you want. People who set and achieve their goals are people who have decided what they want, committed themselves to going after it and haven’t let anything stand in their way. As I have mentioned in the past I have used goal setting to drive my business through these extreme economic times. Thankfully my business is improving. I put this down to hard work, having a vision of what I wanted and goals to help me achieve my vision – I’m still working on it though.
I understand that for many designer jewellers and indeed the creative community at large; areas of business are sometimes the last thing on the agenda for this quarter. But as Picasso once said “action is the foundational key to all success.” Meaning you have to actively engage in and work at achieving your goals. “Goal setting is the road map to business success”. It’s a simple way of laying the foundations of what you want to achieve and integrating it with your daily activities.
See the Bigger Picture then Break it Down
By seeing the bigger picture – whether it’s reaching a certain type of customer, exhibiting in a certain event, or launching a new jewellery line this year – breaking it down in to its bite sized chunks, with timed outcomes along the way, you will find that big goals, can very quickly become achievable.
Give Yourself a Realistic Deadline
You may or may not be familiar with the idea of setting SMART* goals. For those who are not, goals should be specific, measurable, achievable, realistic and timetabled to really be effective. Each element carries equal weighting, but having a deadline (that is realistic) can help you not only plot your progress, but will give you regular reasons to celebrate as you tick off goals you have achieved. A deadlines will encourage you to focus on your goals, maybe even creates a sense of urgency where necessary. Planned well, goals also sharpen the mind and make things happen!
Remember to be Realistic
Of course it is equally important to be realistic when planning your deadlines, as failure to achieve your goal may result in disappointment and discouragement. Break down each goal into a manageable stages, then work out a reasonable and tolerable time frame to each of those stages. But remember if you don’t hit your deadline, it’s not the end of the world; all you need to do is re-set it!
For more information on achieving goals with a deadline just follow the link www.thegembank.com/yearplanner sign up is free and if all that happens to you is you get closer to achieveing your goals and improving your business, then I’m happy.
*Dreams = Vision
Spread the love throughout the year, not just on Valentines Day!
Spread the love all year
Many businesses right now are breathing a sigh of relief that the big Christmas dash is out of the way and most are already starting to look forward and plan for next Christmas, and who could blame them, after all the Yule season is where alot of businesses make the bulk of their money. But does this have to be the case? For example Valentines Day is almost upon us, and even though we are currently living through an economic decline, Valentines sales still remain high. Statistics over the past few years say demand in the U.K for products this season is getting higher and higher especially for diamonds, with coloured diamonds also becoming more and more in vogue. In fact according to the American Express Spending & Saving Tracker ”love-struck consumers are expected to spend 8 percent more this year than in 2011, with four million people expected to announce their engagement on February 14!”
It’s not just on Valentines Day that people are splashing the cash. Recent sales figures show that there are consumers out there who are prepared to save up and open their wallets on special occasions. Because of this, the demand for diamonds and other high end luxury items is quite still high, despite this difficult economic climate that we are living through.
There is a big British year ahead full of huge calendar events that are ripe with sales opportunities that we can all cash in on, such as the Olympics and The Queens Diamond Jubilee. These events can be used to help even out the demand for sales throughout the year so that Christmas trading is no longer so heavily relied on. To make the most of these holiday sales it is important to look ahead and find ways to exploit and capitalise on each opportunity, then plan it effectively!
Let us not forget that bankers have hearts and feelings too, and as such I feel that we all have a responsibility to aid them in the hour of their need by helping alleviate some of the pressure on their bonus laden wallets by encouraging them to lighten their load by spreading the love of their hard earned wage, with a fine jewellery purchase, to give themselves a pat on the back for a job (cough) well done!
To help organise the year ahead why don’t you sign on to my Year Planner www.thegembank.com/yearplanner.
Happy Valentines!
Here we go again
Talk to someone different
As you were stuffing yourself with mulled wine and mince pies many of you were probably thinking about the coming year and what you could do to achieve your business goals. Or so we like to think. With the economic climate still looking uncertain at best, this makes that process even harder.
What’s worse, is that our inability to set out our priorities for the coming year (other than survive) creates anxiety as we go through the year. So that come the end of the year, we’re so frazzled and drained, that all we can do is eat more mince pies, drink more mulled wine and start all over.
I used to go through this cycle, year after year and as the financial crisis hit in 2008, would regularly find myself starring into the abyss of my computer, alone and helpless. Shortly after 2008 I decided to do something about it, but there was very little available for the jewellery trade as a whole and for the creative designers even more so. That is when I decided to do something about it.
If you have received my recent emails, or my invitation card, you may already know that I have decided to share what I’ve learned in the past few years on how to deal with the extreme economic crisis that we are all currently living through. I am a firm believer in creating a vision and setting goals. So from January, I will be launching my Creative Year Planner. It is a free monthly guide that will take you through the steps that are essential to get motivation and clarity in your business and most importantly, how to take it forward.
If it all sounds like hard work, don’t panic it isn’t. It does take time, direction and a little dedication.
Good news is that there is still time to sign up for the Yearly Planner, just follow the link www.thegembank.com/yearplanner
A vivion aired is a vision shared
Happy New Year!
Richard
Something New For 2012
January
In between the mulled wine and mince pies many of us are thinking about the coming year and what we can do to achieve our business goals. At least that’s what we tell ourselves we are going to do. With the economic climate still looking uncertain at best, this makes that process even harder.
What’s worse, is that our inability to set out our priorities for the coming year (other than survive) creates anxiety as we go through the year. So that come the end of the year, we’re so frazzled and drained, that all we can do is eat more mince pies, drink more mulled wine and start all over.
I used to go through this cycle, year after year and as the financial crisis hit in 2008, would regularly find myself starring into the abyss of my computer, alone and helpless. Shortly after 2008 I decided to do something about it, but there was very little available for the jewellery trade as a whole and for the creative designers even more so. That is when I decided to do something about it.
If you have received my recent emails, or my invitation card, you may already know that I have decided to share what I’ve learned in the past few years on how to deal with the extreme economic crisis that we are all currently living through. I am a firm believer in creating a vision and setting goals. So from January, I will be launching my Creative Year Planner. It is a free monthly guide that will take you through the steps that are essential to get motivation and clarity in your business and most importantly, how to take it forward.
Vision and Goal setting is a much tried and tested successful method for me. I have found that setting goals gives you a long term vision with short term motivation. It minimises distractions and focus’s the mind, in fact goal setting is one of the strongest keys to a successful business. Clarity and Vision ensure that your efforts are focused on achieving a clearly defined outcome.
It all sounds like hard work, but it really isn’t. It does take time, direction and a little dedication.
Good news is that there is still time to sign up for the Yearly Planner, just follow the link www.thegembank.com/yearplanner
Share your visions and goals!
Happy New Year!
Richard
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