Jewelry and watches aren’t necessary purchases. Many people aren’t shopping the category because they have no reason to.
Pandora hopes to turn around its struggles with experiential stores.
After two consecutive years of struggling sales, jewelry brand Pandora is plotting its comeback with a heavy focus on physical retail. Pandora is hoping to lure shoppers back to the brand through a compelling and experiential store format. In early November 2019, the retailer opened its first concept store with an experience focus in the US, after launching similar stores in the UK and China.
Pandora is shifting its vision and is focusing on elevating the
discovery portion of the customer’s purchase journey by offering unique products and services in the store. One example is a charm bar, where shoppers can browse and learn about the numerous options and find the styles that meet their personal preferences, such as zodiac charms.
Further, the stores will offer more opportunities for customers to have products tailored to meet their needs, by offering personalization and engraving options. This is
the first iteration of Pandora’s “Expressions” store, and while the initial reaction will help the retailer navigate the holidays, it already has more of the concept stores scheduled to open throughout the US in 2020.
By the facts.
38% of those who had purchased watches or jewellery did so at a department store
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36% of those who had purchased watches or jewellery did so at Amazon
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90% of women who purchased any jewellery made a self-purchase
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Source: Mintel’s Watches and Jewelry Report, US, March 2019
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