Video replay: How Retail Jewellers made the most of previous lockdowns
01 Feb 2021
Michael Donaldson facilitator of NAJ’s Independent Jewellery Retailer community, the JET Business Network shared how members of the group had made the most out of each of the three lockdowns so far.
Speaking at the NAJ Live on Thursday 28th January 2021, Michael reflected on the highs and lows of JBN members closing and then opening their stores, as well as the trials of home schooling, relief of grants and the thrills and spills of online trading. Michael also shared the challenges of working in isolation and with the regulations in place, the impact of jewellery retailers just not being able to do what they love to do.
Replay Presentation Now*
*details required
The JBN has continued to carry out a monthly confidence poll throughout the Covid 19 Pandemic, which Michael shared insight on, and commented,
The humanitarian toll in cases and deaths, closures and restrictions, salaries and shortages has unsettled many emotionally, physically, mentally and even spiritually.
In reality we are dealing with two contagions; C19 and the emotions it generates – many of which are negative and every bit as contagious as the virus.
Despite this, in the four months of lockdown in 2020 (March to June and November), represented combined sales for the network’s members of 36%.
Another useful element of Michael’s talk presented how the reactions of the group changed through each lockdown, starting with procedures and practicalities in lockdown 1 such as phone forwarding and accessing grants in the early months, to then cashflow assumptions and reopening practicalities towards May.
For lockdown 2, in November members were in the main, consumed by websites and ‘getting digital’ with builds and developments in progress or being brought online, with lots of successes being celebrated within the JBN community. This helped to bring a focus to many, Michael observed.
Now in Lockdown 3, confidence was diminishing, but holding out. This could be due to 55% of JBN members selling more in December 2020 than they did in 2019. However, now members were facing the very real reputational conflict of re-opening and advertising click and collect services when the stay-at-home message from the government was clear. Could this cause lasting implications to the relationship retailers had built up with the customers through the previous 10 months? With this, some members decided to review their existing business setup and action refits, open new stores and look ahead to the next credible opportunity to advertise, Valentine’s day.
A JBN member commented that without the network, they would be ‘thinking everyone else would still be making money’. Michael summarised this comment that this is very much down to the trust, the professionalism and the confidentiality of the members in the network to enable this confidence.
Michael’s takeaways, all of which jewellery retailers can gain insight on and support for with JBN membership are:
- Spend time on your business
- Understand your business numbers
- Understand your positioning in the sector & locality
- Focusing on the threats, could you cost you missed opportunities
- Identify the habits & behaviours that have got in the way
- Spend time with your trusted network
- Embrace digital
- Engage your community
- Respect yourself, and love what you do
- AND Remember to make money
Scot Walker from Back on the High Street then gave attendees a direct rationale for why the company set up in 2020, explaining that,
The whole of the supply chain depends upon the success of the Retailers. It became immediately apparent when speaking to clients who we provide lighting and UV sanitising products for that those who were doing good business had a strong digital presence.
We decided then that we would invest in building an ecommerce operation and we’re now at a place where we can build websites in five days, and back it up with marketing plans to maximise its impact.
View Back on the High Street
Ian Cookson, of PA Jewellery in Sheffield, then shared his experiences of the last 12 months as a Retail Jeweller.
Opening his talk, Ian said,
Back in March when the first lockdown was inevitable, I did what most you perhaps did, I panicked. Along with my co-directors I poured over figures, worked out how long we could get buy and if we needed to liquidate stock. Then as grants and other support was announced things at least started to look a little bit more manageable.
We were all furloughed, our website acts as a great shop front but it only actually brings a limited number of direct sales. During Week two, the holiday feeling finished on week two which coincided with the first JBN zoom meeting, organised by Michael giving me the opportunity to share my concerns and made me realise there wasn’t really a way we could keep doing business.
By the time the first lockdown had ended, we managed to over 20% of our usual business, combined with various government reliefs, our financial position was approximately the same as the day we closed the doors.
After reflecting on the second and now third lockdown, Ian concluded that,
“Though we haven’t been able to have the usual face to face meetings, the regular JBN zoom meetings have really helped to keep me sain. Sharing tips, airing problems and generally just supporting each other has been a big part of my life this last year. I’m really lucky to have the people around me I do, which included my colleagues at PA jewellery, but also the JBN membership. Being able to kick around an idea with somebody outside of a company is important too especially when it allows you to see the bigger picture.”
What are NAJ Lives?
The NAJ Live ‘with bubbles’ is a simple format of presentations from 3 industry experts, introduced and questioned by a knowledgeable guest host. The presentations are then followed up with a chance to see and hear from others on the call through ‘a bubble’ discussion; a structured video conference call hosted by an NAJ representative and one of the guest speakers.
When’s the next NAJ Live?
Digital NAJ Lives with bubbles take place on the last Thursday of the month, starting at 10am and moving into bubble discussions at midday. Members can register as many employees to view and replay the webinars as they see fit, although it’s important to note you can only participate in the bubbles on the day (and to be entered into the prize draw for the bottle of champagne!).
Register for the next NAJ Live!
Source: The National Association of Jewellers