While jewellery and watches were one of the worst-affected FMCG markets in worldwide retail during 2020 due to the pandemic, 2021 has seen promising signs of recovery. The world diamond market, for example, has seen strong growth through the first part of 2021, with the De Beers Group posting revenues that are 12% higher than pre-pandemic levels. When considering the fine jewellery market as a whole, McKinsey research predicts that the market will grow at 3–4% CAGR through 2025, with Asia being widely regarded as the world’s ‘centre of gravity’ for fine jewellery and watches.
The new opportunities for growth in the fine jewellery and watch industries come with a mandate: invest in modern, digital in-store experiences to more closely align in-store shopping with online. This ‘phygital’ approach will be what takes the jewellery industry to new heights, and it is essential for jewellery brands to invest now to reap the benefits.
4 Ways Jewellery Store Digital Signage Drives Brand Loyalty and Revenue
1. Create the right environment to influence shoppers
Shopping for jewels is often an intensely personal journey, and jewellery stores need to cater to consumer desire for experiences that are personalised, exclusive and luxurious. According to Euromonitor, affluent consumers in Asia-Pacific value connection with brands and exclusive experiences at a higher level than consumers in other parts of the world. To impress affluent buyers, jewellery stores must invest in creating the right experience.
Jewellery store digital signage can help create a sense of luxury and contribute to beautiful, modern store design. Storefront LED window displays and impressive HD video walls have the power to enchant customers and encourage purchases. Because digital signage solutions also help products to look their best, customers are provided with a sense of innate quality and luxury from the minute they walk into the store.
Jewellery stores can also use digital signage to attract customers to featured collections and brands, providing a lift in revenue around key merchandise.
2. Create an immersive, ‘phygital’ in-store experience
Jewellery store digital signage is key to creating immersive shopping experiences and bringing e-commerce-style elements into the physical store. Customers can enjoy the benefits of a personal interaction with sales staff, while also being able to take the shopping journey into their own hands by exploring products and collections through digital touchscreens, commercial tablets and cleverly placed interactive kiosks. Interactive technologies like Lift & Learn/Place & Learn allow shoppers to physically handle a jewellery item, while a digital screen reveals more information about the item, such as gemstone qualities, pricing information and related collections and items the customer may enjoy.
3. Attract customers and enhance branding
Bold and attractive digital signage in the form of quality LED window displays, digital standees and large-format video walls can be leveraged to catch the eye of passers-by and potential shoppers. Stunning motion graphics and videography create a sense of wonder and entice shoppers inside to explore more, as well as making a brand visual statement that leaves a lasting impression.
4. Enable interactive product discovery
With assisted selling concepts like interactive kiosks and screens, retail tablets and virtual try-on technology, the possibilities for product discovery in jewellery stores are endless. Imagine a digital mirror that allows the customer to 1) select a piece and try it on virtually, 2) choose from a variety of design options, and 3) customise or compare their selection with other pieces on price, design and features. The experience not only becomes interactive, but fun and personal, giving customers another reason to shop in-store.
Interactive tablet stations create an endless aisle, showing the store’s full inventory beyond the physical shopfront, educating customers and allowing them to explore collections and compare items. This self-service technology also helps prevent potential lost sales: a salesperson may not be able to attend to a customer right away, but the customer can begin their own journey of discovery while they wait.
Transform your jewellery store today with Scala
Scala’s innovative digital signage and marketing technology solutions empower retail brands all around the world to transform their marketing and deliver exceptional customer experiences. Jewellery stores are a perfect fit for innovative retail digital signage solutions, allowing stores to create a sense of luxury and modern shopping. Find out more about Scala’s solutions for retail here.
Tara Nichols, Marketing Consultant at STRATACACHE Asia-Pacific, has a diverse background in marketing, social media and communications. Based in Australia, she supports STRATACACHE APAC’s social media and marketing activities, providing content ideation, writing and creative support services.