Retail Merchandiser - May/June 2017 - M19

JEWELRY TELEVISION
Omnichannel Growth
JTV's focus on creating engaging and fun programing in
an omnichannel approach has helped it reach across demographics. The typical customer is a middle-aged female
shopping for herself, but JTV sells all the way down to
18 year olds.
Matthews describes the market as a U-curve.
Customers in their 20s tend to spend more
because they are buying an engagement
ring or want a stylish piece of jewelry
for when they go out. By their 30s,
customers are paying a mortgage,
buying a car or funding their children's educations. All that responsibility means consumers focus less
on themselves so they buy less jewelry
as a result - only to pick it back up once
they get a little older, the kids move out and
they have more discretionary spending.
"By the time they become interested in fine jewelry,
we're getting them engaged," Matthews says. "Our
customers tell us it was wonderful to discover JTV
later in life because earlier in life they couldn't have
bought anything."
Three years ago, the average JTV customer made eight
purchases each year. That number has since risen to 10
purchases annually. Matthews credits that improvement in
customer retention to the impact of JTV's investment in
content and its omnichannel strategy.
"Our customers tend to like things you
can't find at a traditional jewelry store,"
President and CEO Tim Matthews says.

TV broadcasts are demonstrative in nature, but hosts
often direct viewers to additional information on www.jtv.
com. Those efforts have resulted in a high
rate of engagement. In 2016, a SimilarWeb survey identified jtv.com as No.
1 among e-retailers for average visit
duration.
JTV's ability to reach its
customers wherever they
are has returned the
company to the
rapid growth
levels it experienced before
the recession.
JTV reported
sales growth
of 14 percent in
2016, far higher than
the 3.4 percent sales
growth for the entire
retail industry projected by the National
Retail Federation. Much
of JTV's success has come
through those omnichannel offerings. The company
reported mobile visits and
mobile sales increased by more
then 30 percent in 2016.
For all the company's recent success, Matthews understands jewelry is still an indulgence and JTV remains
susceptible to economic downtowns and market pressures.
"We are very sensitive to macroeconomic factors such as
gas or gold and general employment numbers," he says.
"Any risk in the economy is a risk we have to face as well."
Among those risks is the talk around import taxes
designed to protect American manufacturers and suppliers. "We're relying on foreign supply for exotic gems and
any border tax would hurt our business and customers,"
Matthews explains, adding that the entire $70 billion fine
jewelry industry would be hurt by such a policy. "It's crazy
to think that it would benefit Americans to have a border
tax on anything we imported. All you would be doing by
taxing those imports would be raising prices."
Keeping borders open is critical to JTV's ability to
search the world and find jewelry made by Israeli craftsmen or Bali artisans. "We'll keep looking for things like
that that are unique and unusual," Matthews says. "Our
customers tend to like things you can't find at a traditional
jewelry store." O
May/June 2017

RETAIL-MERCHANDISER.COM

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Table of Contents for the Digital Edition of Retail Merchandiser - May/June 2017

Contents
Retail Merchandiser - May/June 2017 - Intro
Retail Merchandiser - May/June 2017 - Cover1
Retail Merchandiser - May/June 2017 - Cover2
Retail Merchandiser - May/June 2017 - 1
Retail Merchandiser - May/June 2017 - Contents
Retail Merchandiser - May/June 2017 - 3
Retail Merchandiser - May/June 2017 - 4
Retail Merchandiser - May/June 2017 - 5
Retail Merchandiser - May/June 2017 - 6
Retail Merchandiser - May/June 2017 - 7
Retail Merchandiser - May/June 2017 - 8
Retail Merchandiser - May/June 2017 - 9
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Retail Merchandiser - May/June 2017 - MCover1
Retail Merchandiser - May/June 2017 - MCover2
Retail Merchandiser - May/June 2017 - M1
Retail Merchandiser - May/June 2017 - M2
Retail Merchandiser - May/June 2017 - M3
Retail Merchandiser - May/June 2017 - M4
Retail Merchandiser - May/June 2017 - M5
Retail Merchandiser - May/June 2017 - M6
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Retail Merchandiser - May/June 2017 - M9
Retail Merchandiser - May/June 2017 - M10
Retail Merchandiser - May/June 2017 - M11
Retail Merchandiser - May/June 2017 - M12
Retail Merchandiser - May/June 2017 - M13
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Retail Merchandiser - May/June 2017 - M17
Retail Merchandiser - May/June 2017 - M18
Retail Merchandiser - May/June 2017 - M19
Retail Merchandiser - May/June 2017 - M20
Retail Merchandiser - May/June 2017 - M21
Retail Merchandiser - May/June 2017 - M22
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Retail Merchandiser - May/June 2017 - M25
Retail Merchandiser - May/June 2017 - M26
Retail Merchandiser - May/June 2017 - M27
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Retail Merchandiser - May/June 2017 - M30
Retail Merchandiser - May/June 2017 - M31
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Retail Merchandiser - May/June 2017 - M33
Retail Merchandiser - May/June 2017 - M34
Retail Merchandiser - May/June 2017 - M35
Retail Merchandiser - May/June 2017 - M36
Retail Merchandiser - May/June 2017 - M37
Retail Merchandiser - May/June 2017 - M38
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Retail Merchandiser - May/June 2017 - M40
Retail Merchandiser - May/June 2017 - M41
Retail Merchandiser - May/June 2017 - M42
Retail Merchandiser - May/June 2017 - M43
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Retail Merchandiser - May/June 2017 - M50
Retail Merchandiser - May/June 2017 - M51
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Retail Merchandiser - May/June 2017 - M53
Retail Merchandiser - May/June 2017 - M54
Retail Merchandiser - May/June 2017 - M55
Retail Merchandiser - May/June 2017 - M56
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Retail Merchandiser - May/June 2017 - M58
Retail Merchandiser - May/June 2017 - M59
Retail Merchandiser - May/June 2017 - M60
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Retail Merchandiser - May/June 2017 - M63
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