Pandora: Why can a small piece of silver fetch a price like gold?


nikisho Date:2021-08-12 17:59:34 From:nikisho.com
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Just like Mathilde, the protagonist in Maupassant’s story “The Necklace”, no matter what the status of women, are yearning for jewelry. Jewelry is popular for many reasons: perhaps because of the material and design, perhaps because of the touching brand story behind it, perhaps because of celebrity power. Pandora has no century-old story, no luxury brand genes, no high-end materials, even just silver jewelry, but it has become popular both at home and abroad. Why would it be like a magic box full of magic, fascinating?

 

Pandora’s price is actually not cheap, occupy 75% of the income of the star products “string ornaments series”, the price of each bead is mainly concentrated in 198-1000 yuan. But the good news is that, in contrast to the “bundling” that other retailers are so keen on, Pandora likes to break it all down. It sells the strings as basic bracelets, beads, pendants, safety buckles, and so on.

 

Consumers can choose and match the bracelet by themselves according to their own preferences and styles. A string of hand string has an average of eight beads, and the most can be strung under about seventeen beads. The reason for doing this is very simple: the form of separate sales of single beads can further reduce the purchase threshold and make it easier for young white-collar workers to accept, and as long as you buy the first string ornaments, you will definitely go back to buy the second time, the third time… Invisible, you bought a string of thousands of hands.

 

Pandora

 

Pandora’s flagship string has a strong cultural background. The small ornaments on Pandora’s hands are known as Charm. In English, they also have the meaning of guarding. They are small ornaments representing guarding and blessing.

 

In western countries, many people keep the habit of sending Charm on special festivals or anniversaries. For example, on a wedding anniversary, order a Charm with two names engraved on it. When her daughter won her first grand prize in a ballet competition, her mother presented her with a small ballet shoe Charm.

 

Pandora took the initiative to design various meanings of beads for customers, such as Disney character series beads, “Princess Ally” symbol for the beloved things firmly and bravely set foot on the unknown adventure journey; “Cinderella” is a symbol of keeping a kind and brave heart to meet the arrival of wonderful opportunities; “Bella Princess” symbolizes confidence, courage and adventure in the adult world.

 

Small gift has a big article, different gifts object, but has different product demand, Pandora further subdivided on giving people and scene, “daughter, mother, sister send friends, send”, to “celebrate birthday, to celebrate the wedding, the newborn, the graduate”, its fine scene and product development, core direct customer demands.

 

Overall, the brand has never deliberately Pandora propaganda “my product is very good, quick to buy it”, but focus more on consumers on the emotional needs, according to the different time node and the scene demand, through the excelsior craft and the iconic unique string method, provide emotional expression more likely.

 

There are two extremes in the jewelry market. At one end are high-end jewelry from van Cleef & Arpels, Cartier and Tiffany. At the other end are street brands, where a chain of bracelets may cost less than 100 yuan. Pandora’s materials are mostly plain silver, but why can it be considered a high-class luxury brand?

 

In addition to careful craftsmanship and design, Pandora is also popular for its clean supply chain and commitment to environmental protection. 80 percent of Pandora’s gold and 90 percent of its silver are recycled. The factory discriminates against pregnant women, pays by the hour and uses environmentally friendly stone…… All these flashes of light give the impression of a controlled, ascetic Northern Europe.

 

, most of the jewelry brand on the market, the new frequency is not regular, relatively low frequency, Pandora has no pride for luxury brand, H&M, Zara such FMCG, increase the new frequency, began in 2003 changed 2 times a year on the new frequency to 7 times a year, according to the seasons and major holidays, the theme of the different series, Such as new autumn series, vigorous summer series, Christmas series, Mother’s Day series and so on.

 

According to De Beers’ 2018 Diamond Industry Insight Report, millennials (ages 18 to 34) in the U.S., China, India and Japan — the top four markets in the diamond industry — are not buying diamonds out of weddle because of love, except in India. Consumers in places like China and Japan are more willing to reward themselves and prove their economic independence by spending on diamonds and jewelry. Pandora discovered this change and made frequent updates to provide them with freshness, thus gaining the favor of many younger generations.

 

The secret of Xiaomi’s success is user engagement, while Pandora’s is consumer-led design. Every year, Pandora surveys more than 8,000 consumers around the world and insists on innovation based on customer needs. After the product design is completed, it will first produce a small batch for trial marketing. If the product is not sold well, it will collect consumer opinions and modify it before trial marketing again.

 

They gave each bead a different moral, but they gave the consumer the right to tell the story: Every combination you put together is a different you.

 

In the United States, Pandora’s designs vary from Disney to Western fairy tales and other culturally colorful themes. After entering the Chinese market, Pandora also keenly captures Chinese consumers’ inheritance of Oriental culture and acceptance of multi-aesthetics, and specially designs related jewelry.

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