JWA 2021 Jewellery Industry Best Practices

staff dormitories. We also provided masks, disinfection supplies and emergency medications to our employees for free,” shares Zhou. DIGITAL TRANSFORMATION In response to social distancing measures that discouraged face-to-face activities, Yuehao invested millions of dollars to create an online service and transaction platform. In lieu of shelves and physical displays, it utilised a website that contains every product’s description, style number, photos, videos, 3D models, prices and more. Yuehao’s product portfolio consists of more than 2 million items in seven categories, namely gold, platinum, K-gold, jade, diamonds, nephrite and coloured gemstone mounting. The collections span accessories, investment-quality goods and financial products, and IP or character-licensing lines to name a few. “The digital transformation has changed the way customers purchase goods. With this technology in place, our customers can nowview, select and place their orders online and in real time, which saved them the trouble and costs of having to travel to Shenzhen to complete these transactions,” Zhou notes. Altogether, these digital innovations reduced customer churn rate by 20 percent. NEW IDEAS While its pursuit of new platforms and operational improvements helped the business survive the challenging landscape of recent years, a quick look at Yuehao’s track record would show that it is no stranger to pushing the envelope. “In order to maintain our unique market positioning, our team has to satisfy customers’ preconceived concepts of value, which are determined by culture, emotions, quality and pricing. We do not only introduce fashionable and lightweight jewellery products for younger people, but also themed products that are especially designed for weddings, memorials, festivals and gifting,” explains Zhou. The company made waves when it incorporated popular cartoon IP characters to its designs in 2017. The resulting products appealed to thousands of Snoopy and Tencent QQ emoji fans who purchased Yuehao jewellery. The collaborative product line strengthened the brand’s appeal to a younger demographic. Yuehao likewise broke new ground when it created jewellery inspired by the Forbidden City, which resulted in popular products focused on auspicious themes. The results speak for themselves. On top of securing year-on-year growth from 2018 to 2021, Yuehao was honoured by the Shenzhen Famous Brand Evaluation Committee in 2021. It was also hailed as one of the “Shenzhen Top 100 Brand Enterprises” by the Shenzhen Municipal Quality Promotion Association in the same year. Proving that necessity is, indeed, the mother of invention, Yuehao shows that not even a pandemic can stop real innovators from changing the game and achieving their goals. 1. Shenzhen Yuehao Jewelry Co Ltd’s showroom 2. 18-karat gold bangle 3. ‘Bloom Your Love’ gold jewellery collection 4. Fan-inspired gold ornament 4 3