Thursday, December 13, 2018

Jewelry stores target young audience to grow

After facing difficulties in the years of economic recession, the jewelry sector begin to notice a decrease in the age range of its consumers. With this trend, the shops of the segment are launching more youthful design products and lowest price. "The jewellery market has been really this movement of democratization of jewels. This panorama has changed with social networking and engagement of a younger audience on these platforms, resulting in the emergence of new lines of products and new brands in the industry, "said independent consultant of jewelers, Patricia Grunheidt. According to a study by the McKinsey consultancy Brazil, the expectation of market growth of jewelry stores in Brazil for this Christmas is 6% compared with the same period of the previous year. According to the balance sheet, until 2020, this sector must move $ $8 billion in Latin America, with the largest markets concentrated in countries such as Brazil and Mexico. For Patricia, dissemination of products like jewels on the internet was important in order to "deconstruct" the figure of jewelry as something far from the reality of many consumers. "I believe that the simplest product models have a lot of potential of social networks and sale pages of these new brands," said Patricia. However, she argues that consumers in search of higher value-added items still feel the need to experience the jewel at the time of purchase. In line with the perspective of Patricia, the managing partner of jewelry Del Lima, Ali Pastorini, stated that the business comes in a reheating process of sales, with growth expectation of 9% in sales volume this holiday season compared with the same period of the last year. " We seek in recent years decrease the amount of precious stones. We launched more commercial lines to meet this new generation and for customers to use on a daily basis, "said the Executive. According to Ali, such twist in positioning the company also involved a renegotiation with suppliers of business. "In the economic crisis, many factories closed. To address this trend related to the new consumer profile, negotiate some adjustments with our suppliers. Most jewelry stores have been doing this, "she argued. According to the Executive, in recent years the share of participation of young people, between 20 years and 30 years, has been growing at around 15% in the business, although consumers above this age range is still majority. "We realize that this customer profile younger have higher frequency of purchase than the other. It's not a sporadic or annual purchase ", complemented There. In this sense, another example of jewelry which realizes higher presence of young people within the business is network s. Stein. "With that, we brought new product lines using more silver. We understand this movement as an aspiration on the part of our customers for later consumer products with higher added value, "said the marketing director of the store, Sthepanie Stein. According to the Executive, this process of buying basic items can also help the customer loyalty strategy, considering that, over the years, there is higher consumption of other types of jewelry. For this month, predicts 20% increase in sales volume compared with the same period last year.
DCI - 13/12/2018 News Item translated automatically
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