With the spread of the coronavirus, came a whirlwind of unanticipated implications for small and independent businesses. Along with the economic disruption, safety protocols designed to thwart the spread of the virus led to furloughs, mandatory business shutdowns, social distancing and quarantine protocols, border closings and travel restrictions.
Like other industries, small and independent jewelry designers are feeling the disruption caused by the pandemic – especially with businesses shifting to online selling. While the transition to direct-to-consumer selling is new territory for many, it’s heartwarming to see the industry come together in a show of unity and solidarity amid these unprecedented times.
Here’s a look at how COVID-19 is changing the face of jewelry manufacturing and production.
Consumer Spending & Pandemic-Fueled Trends
While consumer spending is trending upwards, they are being more prudent in selecting who they’re purchasing from. Building and nurturing authentic relationships with the modern consumer is instrumental for today’s direct-to-consumer brands.
Creating personalized and valuable experiences for your customers will effectively improve brand loyalty, reputation and referrals.
Jewelry brands must focus their efforts on adjusting their messaging and strike the right tone with consumers.
This means reflecting customer sentiment and exercising empathy when interacting with clients. Custom orders, for example, have become quite lucrative for individual designers during the pandemic, and will continue to grow due to the level of personalized service delivered. With people spending thoughtfully, it often translates into selecting pieces of jewelry that they can find a sense of meaning in.
Building Brand Visibility
From videos on Facebook to relatable and genuine images that evoke emotion on Instagram, sharing valuable content on your social networks is an optimal way to amplify loyalty and cultivate new revenue.
Leveraging social media outlets to elevate brand awareness and drive engagement is an important piece of a holistic marketing strategy.
Platforms designed to engage small businesses could serve as a way to tap into new markets and streams of revenue. Elevate your brand and engage with your audience on platforms like:
- Facebook Marketplace
Virtual networking has also become a large component of building a successful brand in the era of Covid – especially when leveraging designer-focused outlets. These platforms are a valuable place to share ideas and exchange information with industry peers, as well as cultivate relationships with potential customers.
Looking Towards the Future
As we unwind from this dangerous period, consumers will continue to base their purchasing decisions on selecting a piece of jewelry in which they’re emotionally and creatively involved in. The post-coronavirus luxury marketplace may look a little different, but for agile and proactive independent designers, opportunities are available for the taking.
As lockdown begins to ease in certain countries, for independent designers, there is a tentative air of optimism.
It’s a great time to be a part of the jewelry industry – between the market growth and ability to connect on a deeper level with your customers, the future’s looking bright!