A major jewelry retailer doubled its sales between 2009 and 2010. Some 3,100 retailers carry the brand in North America. More than 1.3 million people “like” the company on Facebook.
How did this jeweler become so successful and popular? By tapping into consumers’ desires to find value, but also jewelry shoppers’ eagerness to purchase not just a piece of silver or gold, but an experience, too, according to an article on Stores.com.
When people buy or receive jewelry, after all, it’s more than just the item. It’s about a moment in time, a celebration, a touchstone.
One jewelry expert said that when the jeweler came to North America in 2003, it couldn’t have known about the coming recession, but the timing was right. With “affordable, customizable jewelry,” the company helped many retailers stay afloat, according to the article.
This jewelry retailer has taken advantage of the value-seeking customer. They have a well-designed product at a good price and consumers have embraced it.
Other retailers could learn from this jewelry company. There is a huge groundswell of interest in this area of value seeking. Consumers are more and more educated about value seeking, and society rewards the search for good value.
Source: Stores, May 2012