The jewelry industry has long been dominated by brands like Kay, Zales, and Jared, but in recent years, these legacy brands have had to close several hundred stores and refocus efforts online. New players are entering the jewelry industry, many of which are building their brands online, and the jewelers that used to capture a large majority of the market can’t rely solely on brand recognition and legacy to attract (and keep) customers.
One new jewelry market entrant is an online millennial focused brand called Mejuri. Aside from its great online presence and marketing, it also takes a different targeting approach than many traditional jewelers like Kay, Zales and Jared:
“Our brand is not targeted to men. We wanted to break the pattern that we saw in fine, classic jewelry: marketed to men for gifting women, and instead create a brand that connected with women on a more personal level.” – Noura Sakkijha, Mejuri Co-Founder & CEO (forbes.com)
Another distinction between Mejuri and traditional jewelry stores is that it sells ethically-sourced, minimalist, fine jewelry at very affordable prices. It manages to keep prices low by selling jewelry exclusively online with two showrooms in New York and Toronto. This way, Mejuri is able to cut out costs that can incur from expensive manufacturers, marketing campaigns, and bricks-and-mortar stores. (Newman-Bremang, Refinery29.com)
Mejuri differentiates itself by forgoing the seasonal releases and big marketing campaigns that we still see on TV. “Instead of seasonal releases or big marketing campaigns like the old-school brands, the company has “weekly drops” — the first of its kind in the jewellery industry — where they release fresh inventory to their 444,000 Instagram followers at the beginning of every week. With the help of influencers and repeat customers, the Mejuri Monday Editions tend to sell out instantly. They don’t even use hashtags. Their IG aesthetic is just like their jewellery: less is more.” (Newman-Bremang, Refinery29.com)
Here is a look at Mejuri’s Instagram feed (which now has 700k followers) vs. Kay’s:
I like that Kay is inclusive of same-sex marriage as seen in the top middle image. However, unlike Kay, Mejuri doesn’t promote holiday sales or engagement because the goal is to sell to women who want to purchase jewelry for themselves. Mejuri disrupts the market by specifically targeting women shopping for themselves, and it does an amazing job of knowing its brand and its customer and dominating the online space. I think that if Kay and other traditional jewelers are to survive in the new digital age of jewelry shopping, they need to continue to invest their energy into digital and connect with their customers the way Mejuri does.