Although figures were still being finalised at the time of publication, Nationwide managing director Colin Pocklington told Jeweller he estimated total sales from the latest buying day were 25 to 30 per cent higher than those recorded last year.
This breaks the previous record that was set at the Cairns conference in June 2014, whereby a 58 per cent increase in jewellery orders was reported compared to 2013.
Pocklington attributed the positive results to a combination of the “specials” offered by suppliers, the group’s six-month interest free financing scheme and the fact that members continued to “outperform the market in sales growth”.
The buying day was part of the 2015 Nationwide conference, which was held from Friday 27 March to Sunday 29 March in Auckland, New Zealand. Approximately 180 members who represented 101 retail stores attended the event.
During the conference, Pocklington provided a summary of current economic conditions, explaining that while the past 12 months had shown a minimal sales increase, retailers should remember that the sector was still trading $4.6 billion per year.
“It goes to show that effective marketing can result in increased market share and good sales growth,” Pocklington explained.
He noted that consumer spending patterns had changed and, as a result, advised retailers to look at sales results over longer time periods rather than by week or month. He also mentioned that, according to the Australian Bureau of Statistics, February retail sales had increased 0.7 per cent, ”well ahead” of the trend of 0.3 per cent.
Education and training
A number of educational sessions were held as part of the conference, including a new sales training program conducted by New York-based global training company Dale Carnegie Training. This was said to be the first of its kind for the buying group in that it offered a practical sales training course that members could take back and implement in their stores.
US-based keynote speaker Crystal Vilkaitis also conducted a presentation on social media marketing strategies for retailers, while six members shared marketing “secrets” on how they secured diamond orders ahead of the group’s buying trip to Antwerp.
Details for the next conference were expected to be announced later this year.
The conference
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