Trend Watch: Custom Creations

Of course these difficult economic times have affected all types of businesses. More particularly however, the jewellery industry has faced quite a crunch. Why? Because at a time like this, the first thing to get crossed off someone’s list of necessities are the luxuries. Say goodbye to the new diamond necklace you were dreaming of and say goodbye to its matching earrings as well.

Despite this reality, there is a bright light helping retailers hold on during these tough times. The gossip I’ve heard from various jewellery retailers is that their Christmas season wouldn’t have been as successful as it was if it wasn’t for the “bead craze” that has quickly saturated the industry.

What do I mean by ‘bead craze’? Well, back in the early 90s when I was a child, I had a collection of colourful beads and I would create various bracelets and necklaces for my friends and I. Today’s ‘bead craze’ employs that very same concept, except the ‘beads’ are no longer inexpensive pieces of plastic—they come in yellow gold, white gold or silver. And whereas the bracelets I’d make as a child probably cost about a dollar or two, these modern reincarnations can come with a $1500 price tag.

Pandora is a heavyweight in the bead craze. The concept behind Pandora Jewellery is that you begin by buying a starting piece—a very plain bracelet for example--, then you purchase fun little beads and charms to add to that plain bracelet. There are hundreds of different charms, so the overall theme you create with your bracelet will result in a totally custom and personalized product.

Think Apple for a second. “There’s an app for that.” Companies who manufacture these beads use the same philosophy. The result? “There’s a bead for that”.

It becomes more of a psychological game, or even an addiction, as the eventual goal is to purchase enough beads to dress that plain chain that goes full circle around your wrist. Allowing consumers to create an entirely customized piece of jewellery is what has attracted so many people. Furthermore, as each individual bead is pretty inexpensive in comparison with a larger piece of jewellery, consumers are bound to return for more. After some impulse shopping at the mall, would you feel better that you purchased two beads for about $35 each or that you put down $300 for a diamond ring?

Despite Pandora being the leader in the bead craze, other companies have also entered the market such as Silverado and Amore & Baci. In fact, the list does not end there as there are dozens of other companies and imitators who are jumping on board to capitalize on this hot trend. Buyer beware however, as it doesn’t take a fortune-teller to tell you that trends only last for a certain amount of time. Speaking of trends, I wonder what everyone did with their Zoppini bracelets? If you ever bought one, feel free to leave a comment and tell us when the last time you wore your beloved Zoppini was!

Recipe for Success

The Trump's have done it again. Wandering off into new ventures is like second nature and they seem to know exactly what they're doing.

Their latest effort comes from The Donald's daughter, Ivanka Trump, in the form of a jewellery store. But this isn't just any other jewellery store--I think this is the epitome of what every other jewellery store fails to be.

As a child, I can't count the number of times that I've been dragged into a jewellery store and found it to be the most boring place on earth. No matter which store I visited, it was always the same boring story. Everyone was super quiet, there were no other children in sight, and people seemed busy looking at shiny and sparkly things through high-security glass displays. What fun is it to go into a store and look at things that are locked away behind glass? (And if I touched the glass by accident, employees would give me a look and immediately grab the Windex to rub off my fingerprints). I just didn't understand. On top of all of that, there would also be intimidating security guards parked at the entrance of each store, watching my every move--a very welcoming touch! Not so much.

From my days as a child until today, almost every jewellery store I have ever stepped foot in has been this way. This seems to be a consistent formula for a typical jewellery store and it isn't going to change anytime soon. Accordingly, I've learnt to accept it for what it is. Now that I'm older, I understand why these stores are so quiet, why there are no children in sight and why the guards at the doors are so scary. Nevertheless, something inside of me has always told me that if I were to ever open my own jewellery store, I would avoid creating a store that falls into this cookie-cutter shape that most other stores seem to use.

Though I thought I had a good idea, Ivanka Trump beat me to it. She has created a jewellery store that is so welcoming and unique that I believe will be a success for many years to come.

Follow the link below to read the entire article written by Ivanka herself. She offers some great insight for anyone who is considering opening their own luxury jewellery boutique.

After reading this article, it's clear that Ivanka didn't just invest a tonne of money to create this jewellery store. She did her homework. She did her research. She put together the ingredients that seem to be missing from most other jewellery stores. She created a store that is so well-planned and considered, that it is bound to succeed and put competing stores to shame. Who knew that jewellery stores can be fun, afterall!

Here is a small excerpt from her blog--hope you follow the link below and continue reading!

"Our guards wear suits and are well spoken and cordial to our clients. Our doors open without buzzers, and our space is open, soft, bright and feminine.

We also spent a lot of time on our signature. From our space to our logo signifier, our signature coral color accent (picked from childhood memories in Palm Beach) and our exquisite statement-making boxes, you get our brand the moment you look at any of our collections, collateral, ads or website.

Our point of view is clear, coherent and most important, thoughtful. If I was to do this, I would do it right. The world didn’t need another inconsequential jewelry store, but it certainly could use one with brains and smart positioning." Ivanka Trump

Images and Full Article can be found at:
http://instoremag.com/indesign/promotion/if-i-owned/3902-if-i-owned-ivanka-trump