Virtual Forevermark Forum Addresses Industry Issues
Stamford, CT—The ninth annual Forevermark Forum, originally slated for March in Miami before being canceled due to the COVID-19 pandemic, was held online recently.
In a series of interactive sessions, the Virtual Forum addressed the current state of the diamond industry, Forevermark’s adapted plans for 2020, and offered Forevermark partners tools and insights to adapt their businesses and meet evolving consumer demands. It drew approximately 650 participants consisting of Forevermark retail jeweler, manufacturer and diamantaire partners.
Nancy Liu (pictured), CEO of Forevermark, shared De Beers Group insights on the impact of the current crisis on the diamond industry and an optimistic outlook for diamond business following the reopening of retail in China.
“While much of our world and business is in flux right now, one thing we can be certain of is this pandemic will alter consumer expectations forever, but we can be confident that diamonds will continue to serve as a powerful symbol of strength, resilience, beauty, and the bonds between us. As a brand built on a foundation of beauty, rarity and responsible sourcing, Forevermark is well-positioned to connect with consumers in a post-pandemic world,” she said.
With stay-at-home orders and lockdowns implemented globally, there has been a rise in e-commerce amongst all sectors. However, Forevermark’s data from markets that have begun to reopen shows consumers eager to return to stores with pent-up demand leading to signs of a strong retail recovery. In China, Forevermark’s business has come back more rapidly than anticipated, as shoppers have begun to return to luxury goods, with branded jewelry, and bridal in particular, leading the recovery. Forevermark jewelers in China have reported that the average sales price has maintained, and the conversion rates in stores have doubled.
Forevermark US president Charles Stanley shared Forevermark’s vision for 2020 and beyond, which included several new product launches and an evolved omnichannel marketing strategy to position the diamond brand and its partners for success.
“Throughout this crisis, we are seeing the significance of brands being maintained as consumers look to purchase fewer, better things that represent timelessness and have enduring value. This changing retail climate gives Forevermark an opportunity to truly resonate with consumers. To achieve this, we have developed a cohesive product offer that addresses multiple consumer segments, price points, and styles with consistent quality and availability. The new collections we are bringing to market provide a breadth of product to connect with consumers across bridal, self-purchase and holiday occasions.”
Building on the launch of the Forevermark Engagement and Commitment Collection last year, Forevermark has expanded its bridal product offer to include new engagement ring styles, as well as a bridal capsule collection designed by celebrity stylist Micaela Erlanger. The brand has also added new fashion styles and classic collections which, in addition to the existing Forevermark Tribute Collection, will be sold and distributed by Forevermark to retailers to more seamlessly align with the brand’s marketing and omnichannel initiatives.
Stanley also shared changes to Forevermark’s omnichannel approach, which includes expanding its ecommerce product offering to include all Forevermark collections while continuing to provide a profit share to its jewelers for sales made on Forevermark.com.
Guest speakers at informative sessions provided Forevermark jewelers with tangible strategies and tactics to as their stores begin to reopen:
Gordon Co. Offers Free Financial And Inventory Management Tips For Jewelers
Miami, FL—Jewelers who sign up for a free newsletter from The Gordon Company will receive regular information regarding effective inventory management, cash flow, and other essential business strategies. Click here to sign up.
For every new signup through the month of June, The Gordon Co. also will make a donation to The Jewelers Relief Fund, established in 2017 by Jewelers of America and Diamond Council of America to assist jewelers in need. The Fund is being reopened by the two organizations following the nationwide rioting of the past week, which has impacted jewelers in multiple states.
Platinum Born Online Desktop Interview Friday, June 5 at 4 PM-Sign Up Here
New York, NY--Platinum Born has announced that it will conduct an online desktop interview on Friday, June 5 at 4 PM Eastern Time as part of InStore Magazine's Online Jewelry Week.
To register and attend the Platinum Born event, please click here or follow the URL below.
BusinessMind Selects Zillion’s One-Click Jewelry Insurance Point of Sale Customers
New York, NY—BusinessMind has selected Zillion as its premier insurance partner. Zillion offers 1-Click jewelry insurance so BusinessMind jewelry retailers can offer their customers insurance protection in seconds, right from their smartphones.
The software integration with Zillion is a free feature for BusinessMind users, removing the need for online applications, quoting options, insurance purchase requirements, or just plain waiting for an answer. 1-Click offers immediate protection.
“We love innovating and pushing value benefits to our users”, said Raffi Minassian, president of DCIT and the creator of BusinessMind. “Zillion has a unique and compelling insurance solution, and has made the integration service simple and effortless for jewelers. Now our users can better serve their customers after the jewelry sale. This is a wonderful opportunity for our entire user base.”
“The new BusinessMind software feature enables a better customer experience,” adds Adam Black, managing director of Zillion. “We are excited to be partnering with a leading point of sale solution in the jewelry industry. Now BusinessMind jewelry retailers can further differentiate themselves and wow customers.”
Visit myzillion.com/businessmind to learn more.