Author: Hugo Jeffryes

Diamond prices experienced a significant drop in July 2023, with a number of factors contributing to the decline. Diamond data firm Rapaport outlined key trends and developments in the diamond market, including the impact of De Beers’ price reductions, competition from synthetics, and market dynamics. Here’s what these trends mean for the UK jewellery industry. Key Trends in July Decline in Diamond Prices De Beers reduced many rough prices by 5% to 15%, contributing to the overall decline in diamond prices. The RapNet Diamond Index (RAPI™) for 1-carat diamonds slid 2.7% for the month, standing at 6,716 on 1 August,…

In the world of jewellery sales, understanding your customers is paramount to success. But who are your customers, really? As diverse as they are, most customers can be grouped into four basic types: Price Buyers Relationship Buyers Value Buyers Need-Based Buyers. This categorisation can offer invaluable insights into their buying behaviour and help you tailor your sales approach. This article delves into these customer types and provides tips for effectively selling to each. The Price Buyer: Competitive Cost is Key Price Buyers are customers driven primarily by cost. Their quest for the best deal often makes them less brand loyal;…

Trade show season is coming up and, when done correctly, can play a crucial role in the success of businesses, providing a unique opportunity to interact with potential clients and industry peers. With shows like Pure, the Jewellery Show being one of the most highly anticipated events, standing out amidst a sea of competitors can be a challenging task. Participating in these events can significantly enhance brand visibility, generate sales, and forge strong customer relationships. However, to reap these benefits, it’s vital to set clear, realistic objectives. Whether it’s lead generation, enhancing brand awareness, or driving sales, defining your goals…