Global brand distribution company Magnify Brands has revealed a channel-exclusive diamond-set jewellery collection from Hot Diamonds.
With savings of up to -50% off domestic retail prices, the 925 sterling silver diamond set offers a premium value that appeals to modern travellers, complete with a lifetime guarantee.
The concept drew notable interest from key players in travel retail during the recent TFWA World Exhibition in Cannes, the distributor said. A leading global cruise operator is preparing to launch the range soon, with multiple global airlines already confirming listings and a leading ground operator in Asia Pacific also pushed for an earlier launch.
Magnify Brands Founder and Managing Director Martin Lovatt said: “For our ground and cruise clients there are multiple display options, one being a stunning FSDU which will highlight the key saving and quality messages; the collection is also available for inflight too – duty-free retails start from just £34/€39/US$45.”
Campaigns featuring -50% discounts have effectively boosted sales and profitability within travel retail, Magnify Brands noted. This comes in response to a declining jewellery category, which now represents just 4% of operators’ total revenue.
The company also highlighted domestic trends, noting the increasing consumer demand for higher-quality jewellery, especially sterling silver and diamond-set pieces, at more affordable prices.
For years, brands across various duty-free categories have adopted -50% off campaigns, resulting in higher sales growth and profitability, compared to non-discounted products available in the same stores. Since then, these promotions have attracted retailers catering to mass travellers in search of high-quality items at attractive prices, Magnify Brands noted.
Citing recent data from m1nd-set, the distributor said that this strategy has proven particularly effective in appealing to value-conscious travellers.
The study found that 55% of gift shoppers compare prices before making a purchase. Notably, these consumers often have a higher average spend compared to other shoppers, underlining the importance of perceived value, significant savings and quality in their decision-making process.
Lovatt said: “We believe this aggressive approach has been underutilised in the jewellery category, where many operators have opted for low entry-level price point products rather than the high-quality, high-perceived value items, that travellers are looking for, ones which offer aggressive savings, making them more suitable for gifting and self-purchases – especially during challenging economic times.” ✈
