Valentine’s Day is a special time for the jewelry industry. Engagements and the growing popularity of gift-giving contribute to increased sales, especially in online channels. However, jewelry companies have been struggling with declining foot traffic in brick-and-mortar stores for years. How can loyalty programs be leveraged during special occasions like Valentine’s Day to strengthen brand loyalty and encourage visits to physical jewelry stores?
Valentine’s Day is the second-biggest sales peak in the jewelry industry after Christmas. It’s also an opportunity to showcase themed collections – the first new releases after January sales.
“Valentine’s Day has become firmly established in our customers’ calendars and naturally created demand for jewelry. Jewelry is now one of the most popular Valentine’s Day gifts. Understandably, heart motifs are particularly valued at this time. We use this in our discount strategy. Despite increased demand for heart-shaped jewelry, we further stimulate sales by adding discounts on these items. This translates into higher basket values,” explains Daniel Górny, Loyalty Programs Manager at YES Jewelry, responsible for implementing and developing the YES CLUB and Verona CLUB programs.
Not Just Heart-Shaped Jewelry: It’s Engagement Ring Season
The holiday of love is also increasingly becoming an occasion for engagements. The season for engagement rings begins as early as January, along with special promotions.
“Promotions are an important element of brand marketing strategies. They draw attention to the product range, encourage purchases, allow consumers to better understand the store’s offer, and facilitate the introduction of new products to the market. Most importantly, they evoke positive emotions in customers and build their attachment to the brand and engagement. Especially when they are exclusive offers that reward loyalty,” says Alexander Kubicki, Head of Marketing and International Sales at Sparta Loyalty.
The type of promotion should be tailored to consumer needs and preferences. In some cases, percentage discounts work better, in others, fixed-amount discounts. Choosing the right strategy depends on the purchasing habits and preferences of the target audience, which are linked to age group, gender, income level, etc.
“We carefully observe data on our customers’ purchasing behavior to tailor promotions to their requirements. Through transaction analysis, but primarily through data from YES and Verona loyalty programs, we know what’s important for consumers choosing each of these brands. And we adapt special offers to these preferences,” explains Daniel Górny.
Discounts? Yes, But Not for Everyone
In the jewelry industry, there’s a growing trend of offering promotions primarily through loyalty programs. Seasonal sales available to all customers still occur, but most discounts are directed at loyal customers. Such actions bring real benefits to brands, translating into:
Higher conversion rates: Customers loyal to the brand are more likely to make a purchase after receiving a personalized offer. Greater customer lifetime value (CLTV): Such customers buy more and are more likely to recommend the brand to others. Increased sales of additional products: Thanks to better knowledge of customer preferences, the brand can offer complementary products or those that may interest them. Building a community around the brand: Loyalty programs create a sense of belonging to the brand community, which strengthens the emotional bond with customers.
Loyalty in the Jewelry Industry: It Pays Off!
Daniel Górny has no doubt – attracting new participants to the program and communicating with them translates into sales growth. The expert emphasizes that the average loyalty transaction at YES and Verona is significantly higher than a transaction without a loyalty application.
Inviting to the Loyalty Program: How to Do It Right
For some marketers, encouraging customers to use a loyalty program can be challenging. How to acquire new participants?
The basis is attractive rewards and discounts (such as the availability of discounts exclusively in the loyalty program), simple registration, a good tool for constant communication with the consumer – an intuitive mobile application, clear program rules, and training of brick-and-mortar store employees.
Valentine’s Day interest in jewelry purchases can be translated into increased sales of assortment at other times of the year. This can be achieved through an appropriate marketing strategy, transferring promotional actions to the loyalty program, and constant customer care. Such actions will benefit both the brand and its customers. Companies will increase sales and build a strong market position, while customers will gain attractive offers and better shopping experiences.
