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Effects of the 'Crisis' - Positive Versus Negative

May 16, 2012 | Comments: 0 | Views: 125

Effects of the 'crisis' on the beads business

It is commonly accepted that in difficult times there is a drop in demand for most luxury goods and items relating to hobbies and leisure.It is also said that crisis offers opportunities to diversify.

For bead shops in Spain, we have found that there are indeed not only negative but positive effects of the 'crisis'.In the following discussion you can read about both the positive and negative effects in the bead and jewellery-making market!

Decreasing sales

As a result of the severe 'crisis' in Spain a clear decrease in bead sales has been experienced.There is less money for hobbies so foreign bazaars that sell cheap jewellery are becoming a more popular option.It should be noted that making beaded jewellery as a hobby is still a relatively new, though an increasing activity in Spain.In many other European countries making jewellery has already been popular for many years.

Crisis leads to creativity and innovation

The positive side-effect is that people become more creative in times of hardship (or to quote that well-known 16th century proverb: necessity is the mother of invention).In order to save money on buying something new, jewellery boxes are re-opened and people reassess what they already have.Subsequently they may opt to buy a few new beads or accessories to reshape and redesign their old favourite necklaces, bracelets, earrings or beaded rings.They may do this themselves or go to bead shops and have it done for them by experts.The same thing applies to repairs.

High unemployment means people have more free time but do not want to waste time sitting around.In a low-cost but effective workshop they can learn how to make jewellery themselves.In a tourist-oriented market their objective is to sell at market-places or similar retail outlets and make a small profit.This is certainly an attractive option for people who appreciate that they have to set their product apart from the competition.Offering unique handmade jewellery gives them a sound competitive edge.

Luxury items are being substituted

Not long ago, buying high-end beads and bracelets like Pandora or Trollbeads could be afforded by many.Now these same customers want cheaper alternatives in the same style and can usually find them in the beading sector - hence boosted sales.

More time online

Furthermore and most important:due to enforced free time, these people spend more time online.Confidence in internet shopping is growing rapidly as customers search more extensively for the best buy.High street bead shops are mainly concentrated in bigger cities.Therefore for people living in outside conurbations, online shopping for beads has become even more attractive as it also saves them travelling costs.

The balance

Luxury articles, normally bought in more expensive jewellers, are being substituted by cheaper products available in bead shops.

New clients are generated with minimal marketing effort.There is growth in repairs of old pieces of jewellery which means that more beads are sold and more income can be generated for these jewellery repairs.

New small businesses are created as individuals decide to make and sell beaded jewellery.

More spare time leads to more time spent online, increasing numbers of clients for bead businesses selling through the Internet.This is further enhanced as customers look for value purchases e.g. good quality at best price.

However, the positive effects of 'crisis' do not completely outweigh the negatives although it is clear that decrease in footfall is being offset considerably by trends in increased online sales.

Conclusion: hope for the future

Once the market recovers, business will return to normal - regular customers will start spending as they did before.But more importantly: many of the new online customers will continue to buy because they have found an interesting new hobby.This means that bead stores will have more clients than previously.In the future we will find that the current 'crisis' has provided an opportunity rather than a thread and actually helped increase our client base.

These positive aspects give justifiable cause to be optimistic about the future.

Not to many small retail companies operate on a multinational level. We do! Our business is selling beads and accessories for costume jewellery making and we offer our own brand of unique handmade designs. Our market is the whole of Europe and we deliver out of our beads shop in Spain. Every day is a challenge to discover how people of several countries differ in taste and behavior. Therefore we would like to share our experiences.

We hope you like it, and please come to get to know us!

Go to

For other languages: ES - com/es/ - FR - com/fr/ - DE - com/de/ - NL - com/nl/

Many thanks!

Source: EzineArticles
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