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Trade fairs present an opportunity to increase your store’s profitability.
Trade fairs present an opportunity to increase your store’s profitability.

When opportunity doesn’t knock, build a door

The largest Sydney trade show of the past decade is just weeks away. ANGELA HAN stresses the importance of making the most of the opportunities these events present.

In the blink of an eye, another year has come and gone and, once again, the International Jewellery Fair is right around the corner.

If we learned anything from the global pandemic which has reshaped the trade over the past three years, it’s that face-to-face interactions are worth their weight in gold.

The quality of the business relationships that are formed and strengthened at industry gatherings such as the Sydney Fair isn’t easily replicated over Zoom or Skype – they just don’t feel the same.

As US politician Richard J Daley once said, “If a man’s handshake is no good, all the legal paper in the world won’t make it good.”

While many of the technological ‘workarounds’ during lockdowns showcased ingenuity and creativity, nothing could make up for the importance of in-person shopping.

Richard J Daley, US Politician
Richard J Daley, US Politician
"If a man’s handshake is no good, all the legal paper in the world won’t make it good."
Richard J Daley, US Politician

From a consumer perspective, nothing could replace the feeling of examining a new necklace or ring in person. It was a similar experience for the sales staff, who quickly learned that it’s much easier to communicate the beauty of jewellery and gemstones face-to-face.

With that said, those planning on attending the upcoming show should be pleased to know that the event’s organisers say this year’s trade show will be the largest of the past decade.

Furthermore, this issue of Jeweller has everything you’ll need ahead of the fair; standing at 116 pages – double the typical size of the magazine - it is full of new products and ideas.

Whether you’re looking for that hot 'it' trend, the latest products, a strategy for improving your business, or insight into consumer decision- making, there’s something for everyone.

With the most important annual event on the Australian jewellery industry’s calendar just weeks away, every tool you need is at your disposal – the rest is up to you!

Knowledge is power 

For example, while ‘trade’ will always be front and centre at events such as the Sydney Fair, they also present an opportunity to increase your store’s profitability.

Indeed, how you sell jewellery is equally as important as what jewellery you’re selling. This year three important presentations will address differing topics designed to improve your business.

One of the most common complaints from retailers is that it is difficult to stand out in a crowded and competitive market.

Publicity and brand strategist Karen Eck has worked for more than two decades helping small businesses overcome this very problem.

Eck will host a special presentation – The Power of Visibility – and discuss methods for gaining recognition by building skills and confidence.

Karen Eck
Karen Eck
"While self-promotion can be difficult and awkward for many business owners – especially when weighed against other responsibilities – it’s vital for long-term success."
Karen Eck, Publicity and brand strategist

She says that while self-promotion can be difficult and awkward for many business owners – especially when weighed against other responsibilities – it’s vital for long-term success.

Nationwide Jewellers managing director Colin Pocklington will host a presentation - ‘What is my business really worth?’ – and guide visitors through the vital process of understanding the value of your business.

I’m sure you’d agree that it’s difficult to improve the value of your business if you don’t have a firm understanding of what the initial value is!

In a time where retailers are forced to adapt to changing market dynamics, understanding the value of your business is not a luxury – it’s a requirement. Pocklington will also provide invaluable insight into boosting profitability and performance.

On the third day of the show, the Attorney-General’s Department will offer guidance and details about how proposed legal reforms will impact the jewellery industry. For example, is it legal for a jeweller to accept payment in cash of more than $10,000?

The presentation will be centred around anti-money laundering and counter-terrorism financing.

The knowledge of how to protect your business from exploitation by money launderers and other criminals is invaluable. 

The information available at these sessions has the potential to significantly improve your business – whether it be via direct application, or simply by changing the way you view your practices.

With that said, the real work begins when the fair concludes and it’s time to convert these insights into action. 

Tomorrow’s best and brightest

Along with all the usual highlights, this year’s Sydney Fair comes with a valuable addition – a renewed focus on the industry’s younger contributors.

Emerging jewellers from the Design Centre Enmore (TAFE NSW) will demonstrate their technical skills, and visitors will have the opportunity to witness the resulting creativity and innovation.

The jewellery and watchmaking trade is built upon a rich history and tradition, and this year the aim is to nurture and support the next generation of talent.

And perhaps as an increasing recognition of the importance of the International Jewellery Fair, a delegation from the US-based Independent Jewelers Organisation (IJO) will exploring the show floor with us for the first time. 

The IJO is a founding member of the Global Jewellers Network, a collaboration with Australia’s Nationwide Jewellers and the UK’s Company of Master Jewellers.

Indeed, one of the highlights of events such as the Sydney Fair is seeing new visitors interspersed with familiar faces.

As always, the Jeweller team is looking forward to greeting you with a smile and a handshake, as well as a copy of our latest magazine and trade fair directory.

Events such as these are a golden opportunity to prepare for a productive year ahead; however, as we all know – you can’t climb the ladder of success with your hands in your pockets!

More reading:
Digital focus pays dividends for Nationwide Jewellers
International Jewellery Fair 2023: Action-packed opening day
International Jewellery Fair 2023: The Story Continues
Blast from the past: More questions raised about Jewellery Industry Network
Sales and sunshine: Australian Jewellery Fair heads to Gold Coast

 

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ABOUT THE AUTHOR
Angela Han

Publisher  • Jeweller Magazine


Angela Han has more than a decade’s experience in the jewellery and luxury goods industry, having worked in all sectors from retail and manufacturing to design and supply. She has been with Jeweller for over ten years and has extensive experience in print and digital media publishing, business-to-business communications and strategy. 

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