Daren Daniels of The Jewellery App talks about how the jewellery trade could become better connected online Featured

Thursday, 05 July 2018 18:03 Written by
Published in Blog

Without a doubt the high street is changing.... personally, I'd say it happened years ago. Recently, the many big-name closures which we are just seeing, are the consequence of those changes. I'm not going to spout on about all the stats or highlight articles, we all know it's changed. The problem is we just don't know what it's changing into. We are all waiting for the next big thing in technology to tell us what to do, but we should stop waiting and start planning, as it might not happen and if it's a mixture of e-commerce and social media then part of the future is already here. I suspect we will see advancements in mixed reality and the use of Blockchain thrown into the mix that drives another change altogether and you can bet it will mean we must react to consumer trends, reduce stock holding, manage dead stock and start working with virtual inventory.

One of the many benefits of being an independent is the speed at which you can change. Karan Webb-Meek wrote an interesting article on this recently on embracing social media and technology. https://www.linkedin.com/pulse/changing-retail-landscape-must-read-anyone-karen-webb-meek/

But before these things come into play, I believe we need a significant change throughout the jewellery trade. There are no industry statistics, no connected systems and no way of knowing what products or suppliers are out there looking to sell new trending products, let alone what is selling and react to it.

Big companies (and there have been many recently), have simply failed partly due to being just too slow at change. They have to plan 6 to 12 months ahead, but with social media, trends are happening now and gone next month. Independent jewellers are in a very strong position in the new retail world, but they will need tools and resources to do so, and this is why we all need to work together to survive and why I set up The Jewellery App.

The trade can no longer survive by holding onto dead stock; this can be in the region of 35%, and only increases year on year if it's not being addressed.....capital to buy new stock will be key. The Jewellery App (TJA) was set up to help the industry in many ways, the core belief being that we need to be connected on one trade platform.

With TJA already established with over 500 members in just 4 months, it is providing a platform to retailers and suppliers to sell end-of-line or unwanted items to each other, but this is only part of the story and bigger business opportunity.

Soon members of the TJA will be able to choose whether they want to sell B2B, B2C, in-store, on their website, Facebook or eBay thus making this a platform to dispose of or sell all things a company has, for both suppliers and retailers.

But, it's not just about selling, its also about buying. Retailers can also source services and stock from suppliers on the platform and buy. This is where it gets really exciting for all parties and where it will help everyone in the future as we develop data, decentralised shared data, through blockchain, because that is what is going to help independent retailers react to trends like a product, a new brand or collection like never before, without needing to wait for social media to tell you. We'll be able to show you who and what is moving fast so you can adapt to consumer trends.

The Jewellery App is a great marketing platform for suppliers to be found quickly and easily, and importantly being cost-effective compared with all other avenues. New suppliers will now get a chance of selling and growing, and this also frees up the independent to buy from smaller suppliers who otherwise could never be found in today's world.

The future could be one of constant dynamic change getting ever faster so being independent and connected is a must. Maybe, the future high street is all independents and not big, but one thing is for sure, you will have to be using social media and e-commerce.

The services and tools of the digital world will continue to change consumer behaviour. We have created an appetite for experience rather than merely for shopping and buying. In the main, we have stopped just buying the product.
Brands for many years have been selling us an experience and emotions, which we have bought into, and the numbers say we will be doing this even more. This brand experience and emotion that has become mainstream for all things and the digital world helps this happen. The online experience that has been enhanced with great websites and engaging social media is now expected in store, but it's the pace that change can take online that is a factor of driving change in retail stores. We should embrace these changes — retail must match the quality of the online experience. There are now multiple sales channels, Facebook, your website and Instagram becomes the new store window, and these digital tools now become the source of inspiration for reinventing the role of the store and the customer experience.

We can all manage some of these changes but without having a connected trade how will you know what trends are happening, what suppliers have launched new products, how will you buy them and more importantly how will you dispose of them when the trend changes. Being connected to other retailers and suppliers gives everyone a chance. The Jewellery App will help the trade create its future, sign up and let's start helping each other.

Help us connect the trade, go to www.thejewelleryapp.co.uk

Read 208 times Last modified on Wednesday, 19 September 2018 15:56
Daren Daniels

Partner & Sales Director, The Jewellery App.

Daren has over 20 years experience working in sales, with particular expertise in jewellery and technology. He has a vast understanding of stocking systems, the retail trade and the jewellery and watch market. Daren is well-connected throughout the trade boasting links with retailers, suppliers and manufacturers across the UK and beyond. Combining both his marketing and sales expertise with his ability to connect with people, Daren is a key asset to the future success of The Jewellery App. 

www.redblok.co.uk

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