JNA Awards 2020 - Jewellery Industry Best Practices

84 JNA AWARDS • 2020 MCLON Jewellery Company Limited Best known for its diamond, gold and coloured gemstone jewellery, MCLON Jewellery Company Limited has grown tremendously in terms of reach, product diversity and market share through the years. And in 2020, it accomplishes yet another rare feat as a double Honouree at the JNA Awards. Retailer of the Year Founded in 1999 in Hangzhou, China, MCLON is a self-operating and franchise chain, and e-commerce business rolled into one. It identifies female millennials and women in the post-90s segment as its core market – a powerful consumer group that has recently exhibited keen interest on light luxury fashion and high-end street products. “Those who have paid attention would know that the consumers’ demand and buying patterns have already changed dramatically even before the pandemic, although it did accelerate the low-cost trend that started in 2019,” says Song He Sun, Chairman of MCLON. As such, the company endeavoured to strengthen its hold on the market, even as the pandemic intensified its effects on retail businesses. “Rather than just paying lip service, we must have a sense of urgency in solving this crisis. We have to ensure that we have sufficient capital, first; and a viable business strategy, second,” adds Sun. Believing that setting the right direction is key, MCLON conducted multiple studies and tests to ensure that their offerings still resonate with the post-90s set. In its research, the company discovered that younger consumers view jewellery differently compared to their parents’ generation. Instead of relegating jewellery to big-ticket purchases for, say, weddings and other special occasions, today’s consumers favour jewellery Categories: Industry Innovation of the Year – Marketing Retailer of the Year Country / Region: China 1 2