- Importance of brands increases
- Individual customer consultation is retail’s mainstay strong point
- Increased customer frequency
How is watch and jewellery retail faring during the
current economical crisis? What are the retail industry’s current wishes,
requirements and feelings, and those of its customers? To find out, the inhorgenta
europe project management recently held a representative poll among one hundred
jewellery and watch retailers throughout Germany. The first insightful
results from the research performed by special service provider BBE Retail
Experts are now available; the plan is to continue the polls on a regular basis
in the future.
Retail Sales: atmosphere and order situation
Despite the current economical crisis the poll
revealed pleasantly constant consumer behaviour and a rather optimistic
atmosphere among watch and jewellery speciality retailers. 43% of the retailers
polled rated the current overall situation in the industry as good to
excellent, 34% considered it acceptable, and only 23% rated it as poor.
Furthermore, 57% expect that the overall situation will remain about the same; 25%
even believe that it is improving. There were even more positive reactions when
asked about their own, personal situation: the current order situation in one’s
own business was rated good to excellent by 57%.
Competent Customer Service: customers honour closer attention
to their needs
Like no other industry branch, retailers are able to
offer their customers individual and competent sales consulting, which is one
of its core strengths: 88% of retailers polled consider customer service a very
to extremely important factor for the economic success of one’s business. Customers
honour this service by migrating more towards specialty retailers: 76% of the
poll's participants even state that the customer frequency in their business
has increased.
Consumer Preferences: price levels and brand focus
At the moment jewellery and watch sales occur
primarily at the lower and mid-price levels. 54% of jewellery sold originates
from the lower, and 38% from the mid-price segment; in the watch sector it is 49%
and 40% respectively. When customers purchase a piece of jewellery they
primarily want to accentuate their own individuality: 86% of retailers polled
stated that their customers purchase jewellery mainly or even exclusively as a
fashion accessory. About 44% believe that the brand of the jewellery is
important. In the watch sector the brand has even more significance. 81% of the
polled believe that the brand or manufacturer plays a fundamental role for the
purchaser.
inhorgenta europe: continuing
to be the industry’s most important get-together
Armin Wittmann, inhorgenta Europe
Exhibition Director, is very pleased with the market research results: “Despite
the overall difficult economic conditions the national watch and jewellery
retailers remain quite optimistic. This proves clearly that the German market
is currently stable. It remains attractive, and this also applies to visiting
the upcoming inhorgenta europe.” inhorgenta europe is actually the most
important trade exposition for German watch and jewellery retailers: 49% of the
retailers questioned came to inhorgenta europe 2009 and 54% plan to return to
the show next year, held from February 19th to 22nd,
2010.
Thanks to its early date during the trade show year this
first get-together for the industry of the year is considered an essential
indicator for the coming season. The exposition provides visitors with a
comprehensive overview of new collections, new brands, and new technology.
Photo:
inhorgenta europe 2009, New Brand Area
Download:
www.inhorgenta.com
/ Bildarchiv / Special Areas / New Brand
More information is available at
www.inhorgenta.com Contact:
Messe München GmbH
Marketing & Communications inhorgenta europe
Maud von Hoff
Messegelände
D-81823 Munich
Tel.: +49 (0) 89 949 -20 610
Fax: +49 (0) 89 949- 97 20 610
Maud.Hoff@messe-muenchen.de Talk of Town. Wächter & Wächter
Nikola Hägele
Grimmstraße 3
D-80336 Munich
Tel. +49 (0) 89 74 72 42 -36
Fax +49 (0) 89 74 72 42 -40
n.haegele@waechter-waechter.de Messe München International (MMI)
Messe München
International (MMI) is one of the world´s leading trade-fair companies. It
organises around 40 trade fairs for capital and consumer goods, and key
high-tech industries. Each year over 30,000 exhibitors from more than 100
countries, and over two million visitors from more than 200 countries take part
in the events in Munich.
In addition, MMI organises trade fairs in Asia, Russia,
the Middle East and South America. Via its six
subsidiaries – in Europe and in Asia – and 64
foreign representatives actively serving over 90 countries, MMI has a worldwide
business network. Environmental protection and sustainability are key
priorities in all MMI´s operations, at home and abroad.
Further information:
www.messe-muenchen.de 8/MK/vH
