Singapore jewellers urged to go mobile

Trade Minister Lee Yi Shyan points to a growing but untapped market who shop jewellery via their smartphones and iPads.

"Consider mobile commerce-enabled sites which allow consumers to browse, search and buy products, as well as find nearby store locations. Investments in mobile commerce capability will allow companies to tap into the growing market of affluent consumers who shop through mobile devices. One can check out e-bay jewellery sale site, for instance, to see its rising popularity," he said during the Singapore International Jewellery Show 2012 in addressing how jewellers can improve their productivity.

Mr Lee Yi Shyan stressed that Singapore jewellers need to do this to strike a competitive advantage. Another method is to build on in-house design capabilities.

"Design is key to product generation and differentiation. Design capability in turn comes from solid craftsmanship and the intimate understanding of customers’ preferences," he said.

"Local jewellery retailers, for instance, Goldheart, has taken steps in that direction. Last year, Goldheart launched the Ascente collection – jewellery pieces featuring emerald-shaped diamonds, in response to the growing trend of consumers desiring jewellery that come in modern and unique designs. Our other leading jewellers such as Soo Kee Jewellery, Aspial-Lee Hwa, Poh Heng and Tian Po all have their in-house design teams," he added.

Firms should also review their business processes, seeking processes to reduce waste, improve yield, raise the level of customer service and enhance customers’ loyalty.

"Given its strategic location, Singapore jewellers are well placed to serve the growing and exciting Asian jewellery market, provided that we define our niches, continue to innovate, build new capabilities and strengthen our operations," he said.