brand1

The BRAND Debate

 YES!
BRANDS
 
 When people see ROLEX they instantly trust that it is quality because Rolex has spent time and money building that trust. Brands do the job of building trust for you. For example, you might feel better buying New Balance shoes over no-name shoes because New Balance has already proven to be trust worthy to you.The benefit of jewelry brands is if you have a few brands people trust, then all your non-branded items become more more trust worthy as well.
Secondly, people have no idea what jewelry should cost. With a brand people feel more comfortable spending money because they feel the brand has already established VALUE.

 Brands are good because the brand
drives traffic for you. People come in looking for the brand, making the sale easier.The brand creates its own followers.

Jewelers sell emotion. Brands create a feeling and an IMAGE. The job of creating a luxury feeling is done through the brand, putting less pressure on the jeweler to try to create that emotion.












NO!
 BRANDS

So why would you not want brands? Well because they might screw you. Look at Pandora. The small jewelers helped Pandora grow and thrive only to have Pandora open their own competing stores across the street. Tiffany did the same thing. Brands go on-line and sell to your customers.

The second reason is value. Many jewelers do not feel right charging more money for a name-brand ring when they could make one that looks similar for much less money. Many name brand watches have the exact same movement as a no name watch.

Brands have rules. They also
 have minimums and buy in's.
They can make you buy a
style you do not want in order
 to get a style you do. These restrictions can make it hard for small jewelers to operate.

 One argument against
brands, is there is a lack of recognition with the general
public. If you go to the average person on the street and ask them to name some jewelery brands you are lucky if they can tell you more than Tiffany's. Also it is hard for a customer to show off the brand. With a Gucci purse you
 see the Gucci logo.
With a branded diamond pendant there is no way for the general public to know just by looking, that the item is branded.





ARE YOU A JEWELRY BRAND?

 
The best answer to the brand debate is if
YOU CAN BECOME YOUR OWN BRAND.
This is the goal, but it is not so easy to do. Konstantina Mahlia is a jeweler who has done an excellent job. Here are some of her suggestions on "how to be your own brand".

HOW TO BE A BRAND.
Think of your store as a person. What would that person smell like? look like? act like? A BRAND IS A STORY. Use pictures to tell your story. Be consistent! Do your post cards match your carpet? Does your wrapping paper
tell your story? Try giving every piece of jewelry a name. Men names their cars, you should name your best pieces. Is your store TOO diverse to tell one story? Then think of your store as a pie. Make segments. Tell a few stories. Be like chapters in one book.
Thanks for the great advice Konstantina!



 


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