Everyone has seen a huge amount of change with this COVID-19 outbreak and businesses have been adapting in some really interesting and inspiring ways. As you can imagine, like every other industry, the jewellery business has seen some dramatic changes and everyone selling jewellery and watches have had to adapt to survive. Although we wouldn’t say any of this has been pleasant, it has been a fascinating learning experience and we’ll be very interested to see how things will play out over the coming months. Because we’ve learnt so much and have a great deal of experience in the industry, we wanted to share what we’ve learnt, what we’ve seen happen over the last few months and what we predict will happen going forward.
Demand for Second Hand Goods
In uncertain times, people always look to gold as a safe investment so the price of gold right now is probably the highest it’s ever been. We’ve seen, for example, a brand new men’s gold chain which would have been worth £500 a year ago selling for around £800 now. This dramatic increase, in conjunction with the financial pressure many people find themselves under, has led to lots of people wanting to sell their jewellery and prestige watches so we have seen an increase in stock of these sorts of items. All of this presents an opportunity for us because we can offer our customers a wider selection and people priced out of the new jewellery market are increasingly looking to buy second hand items which are still much more affordable.
People Treating Themselves
Even though some people are having a hard time financially, others aren’t so affected and these people have been unable to go on holiday or go out for meals etc for months now so are starting to treat themselves to luxury items such as jewellery and watches. We expect to see more of this over the next few months where people have been saving money but are fed up and want to treat themselves to something special.
With the shop closed, we’ve been selling more items than ever over social media so you’d be forgiven for assuming we’re having less personal contact with our customers but, actually, the opposite has been true. Because James has been delivering items himself, he’s realised that he has customers all over Sussex and by not needing to man the shop, he has had more time to talk to his customers so can offer them a better and more personalised service. When the shop opens later this month, it will be on reduced hours which will allow James to spend more time having one to one meetings with his customers and talking to them or meeting them outside of normal shop hours. He’s actually found this new way of working offers him greater flexibility to give his customers the service they want when they want it.
Due to the ongoing need to prevent COVID-19 infections, James Ross Jewellers will open on 15th June with extra safety precautions in place. Opening hours will be from 10am to 2pm Monday to Saturday and only one person will be allowed in the shop at once. James has made sure all the correct PPE is available and is abiding by all the government regulations on safer opening.
A likely increase in supply and demand for second hand jewellery and watches will probably see us quite busy over the next few months but we still stock brand new items too for anyone looking for those. Although we’re sad to see so many people struggling and suffering as a result of this situation, we’re pleased to have learned so much from it and look forward to offering more flexibility and a more personal service to our customers going forward. If you would like to sell or buy any second hand jewellery or prestige watches, please get in touch on 01273 239763 or 07810 652032 or email firstname.lastname@example.org.