Trending Now: Jewelry Stores Leverage Digital Marketing for In-Store Holiday SalesDigital Marketing in a Brick-and-Mortar World
In 2015, consumers spent more on Mother’s Day than they did for Valentine’s Day, and nearly 20% of their gifting dollars (totaling $4.2 billion) went to jewelry purchases. Interestingly, the bulk of these purchases took place offline in brick-and-mortar stores, despite the ever-expanding digital universe.
This is true of most jewelry transactions in general, too, and is not limited to gifting around holidays.
Driving the trend for traditional buying is the desire of both younger and more mature buyers to be able to see the sparkle and feel the weight of their jewelry investments, however big or small they may be.
The holiday season is no exception, and forecasts are strong for jewelry making an impact on gifts amongst higher-income households.
How Do the Holidays Come Into Play?
A Kantar report on 2017 forecasted Holiday Shopping had this to say about the power of disposable income gift items like jewelry:
Retailers and suppliers that appeal to upper-income households should feel relatively more optimistic this holiday. This shopper segment has gained momentum in recent months, reflecting rising home prices and growing investment values. Improved spending by this segment on toys, consumer electronics, and jewelry categories will drive aggregate brick-and-mortar growth at specialty retailers and department stores of 2.5%, up from 0.5% in 2016.
In-store sales for jewelry are still a hot item this holiday shopping season.
The Role of Digital
If the majority of jewelry sales take place in traditional stores, then what role does digital play for local jewelry stores? Certainly there is a place for e-commerce, but it is less critical for jewelry stores than for other segments. In fact, George Murray, Signet Jewelers’ Chief Retail Insights and Strategy Officer, cited the tendency for some buyers, such as millennials, to buy online then elect to ship to a store so that they can see and actively touch the pieces.
This begs the question again, what is the role of digital? Similar to other big-ticket purchases, digital is a prime channel for informing and engaging consumers: from educating gemstone grades to showcasing the latest trends.
To create an optimal digital experience for offline buyers, there are a few standbys that are a must within the digital landscape. First, websites are the foundation of any digital presence. Ideally websites will include some interactive elements where businesses can answer a customer’s pressing questions: a frequently asked questions section, at minimum, or real-time chat functionality that can push prospects further along their conversion process.
Other channels, such as social media and video, are great for highlighting beautiful inventory or gifting ideas. With the bulk of jewelry purchases going to a gift recipient, it’s important to align messages and tactics to targets: be it the buyer (who are men 75% of the time) or the end-user and beneficiary. For example, targeted digital video may work well for men, whereas social channels, such as Pinterest, might be a logical aspirational and inspirational platform for women.
What About Other Media?
Digital is influential in early stages of the conversion process, but it can also spark an offline conversion and drive consumers to make a purchase. PPC, email and social media ads lead the pack in terms of driving consumers to action both in the past 30 days and over the past 12 months.
Other channels have comparable effectiveness in leading consumers to act after seeing an advertisement: video (both television and digital), direct mail ads and coupons, and newspaper (both print and online) are among the most influential. These more mass vehicles are great for building awareness, too, and keeping brands top-of-mind for more personal, non-holiday events—such as birthdays, anniversaries, and proposals.
Without question, both traditional and digital tactics have a place in media plans, providing opportunities for building awareness, sparking interest, driving engagement and creating urgency. The challenge, of course, is how they fit within a business’ marketing strategy and communication plan based on who its best customers are and what their needs are.
Need Help Getting Started?
Be careful not to forsake select media and miss the opportunity to tell a comprehensive story about your business.
If you are trying to strike the right balance with your communication efforts to drive traffic to your store and struggling, we can take a deeper look at your current customers and help you understand how best to reach them, through both digital and traditional channels. Contact us today by clicking here or calling 334.262.1611 to learn more.
2016 AudienceSCAN; NRF Mother’s Day Spending Survey conducted by Prosper Insights; Lieber, Chavie. “Kay, Zales, and Marketing Diamonds to the Middle-Class Man.” Racked.com, 7 Aug. 2015.
2017 Kantar, “These Retailers Will Win the Holiday Shopping Season,” us.kantar.com, 14 Sept. 2017.