Be Proud of All You Are Doing to be a Responsible Jeweler
As a retail jeweler, it can seem daunting to face the rising tide of consumers who have begun to ask for more information about the "ethical" origins of the products they buy. You may find yourself in the unenviable position of being the touch point for those questions and expectations. You may also wonder how, as the end link of a complex supply chain, you can hope to confidently provide answers. But rather than be disheartened, recognize that you and your customers have embarked on this important path together, and it's filled with immeasurable opportunity.
The journey began about a decade ago as our industry began to be challenged by a wider range of ethical issues than it had encountered in the past, beginning with the conflict diamond crisis. Ours is not the only industry to face these new challenges, by the way. A recent survey of the so-called "Conscious Consumer" shows that consumers' search for evidence of responsible and ethical business practices has become an intrinsic part of how they choose all their products in the 21st century.
The Inaugural BBMG Conscious Consumer Report combines field observations with a survey on purchasing behavior and social values among consumers in the United States.
It found nearly 9 in 10 Americans say the words "conscious consumer" describe them well.
The survey also found that, with quality and price being equal:
- 90% of these consumers are more likely to buy from companies that manufacture energy efficient products,
- 88% are more likely to buy from companies that promote health and safety benefits, and
- 87% are more likely to buy from companies that support fair labor and trade practices and commit to environmentally friendly practices.
BBMG's study is just one formal example of consumers' interest in this topic - other recent research has echoed these findings. Furthermore, the conclusions are supported by the rising informal noise. In both traditional and new media, at places of learning and beyond, consumers are becoming more and more engaged with the ethical implications of their product choices and they don't hesitate to tell others not only where they buy, but why (or why not) they've made a purchasing decision. This is especially true among younger consumers.
The good news is the global jewelry industry has recognized the importance of the journey, too, and its leaders have been involved in a number of issues and initiatives that address the concerns of the conscious consumer. If you are a Jewelers of America member, you are no doubt aware of our work in this area, along with the Council for Responsible Jewellery Practices.
In addition, you can also tout how far the jewelry industry and your business have already come - in countless other ways. Make sure customers-and potential customers-are aware of your expertise and professional reputation.
Some simple ways to enhance consumer confidence:
- Promote your involvement with industry trade organizations like Jewelers of America and The Council for Responsible Jewellery Practices.
- Promote your Responsible Business Practices in a clear and concise manner on your Web site and elsewhere. For example, your policy with regard to conflict diamonds and your commitment to the Kimberley Process and the System of Warranties must be clearly stated.
- Promote your community involvement. The Conscious Consumer report noted that consumers care about what's happening in their own backyard. You're in a great position to make a difference locally and tell the story.
- Promote your "green" policies. For example, let consumers know about the steps you've taken to recycle and/or use energy-efficient light bulbs.
It's a challenging environment for the retail industry in the U.S. and jewelers are not immune. As consumers raise the ethical bar and tighten their purses, your reputation is more important than ever before. Taking simple steps-many of which you've already embarked on-to meet consumers where they are, isn't just a matter of being a "good business" today. It's a matter of being "in business" tomorrow.
