Taming the Beast: Lessons learned from 30 years in jewellery retail

Retail is tough, and jewellery retail is more challenging again. I expect it will only become more difficult in the next few years.

This year marked 30 years in the jewellery industry, and to celebrate, I’ve opened a new store focused on creating an unforgettable experience for customers. With an emphasis on custom design, the store is a throwback to the good old days – when jewellery was about emotions and sentiment and not ‘scoring’ discounts.

I’ve watched the industry change at breakneck speed over three decades, beginning as a teenage sales trainee and now running two independent stores. It’s been one heck of a ride, like trying to tame a wild beast while wearing diamonds.

One thing I’ve learned from all the chaos is that while retail is always a challenge, jewellery retail is another beast entirely.

Diving into the unknown

At 17 years old, I attended my first job interview with one of Australia’s largest jewellery chains. I knew nothing about the industry but was keen and fearless—or at least I pretended to be!

The area manager dropped this wisdom: “Retail is hard, but jewellery retail is even harder — and it’s only going to get tougher.”

I’ll be honest – those words rattled me. I was fresh out of high school, thinking I had just found my dream job. I was told that it was going to be an uphill slog. My determination and youthful cockiness prevented me from backing down.

Getting the job was one thing; keeping it was another. When I walked into the store on my first day, I could’ve sworn the staff were taking wagers on how long I would last.

My manager didn’t sugarcoat the situation. “This is going to be hard work. Your first goal is to sell. Hit your targets, and then we’ll talk about your future here.”

I was thrown head-first into learning everything from sales techniques and store operations to product knowledge. Most people reading this will know that jewellery isn’t just pretty rocks and shiny metals.

There’s a science behind diamonds, gemstones, and designs, and it doesn’t all sink in overnight.

It was overwhelming; however, I thrived on the challenge. At the time, jewellery retailers had a straightforward formula for success.

Location was king, and appropriately trained staff were essential. A clean and welcoming store was a must-have, and you needed a solid, well-executed sales plan. Key pieces needed to be merchandised professionally, and marketing was defined by television, radio, and catalogues. Culture and morale within the store were just as important as the gold in the window.

More than anything, you had to sell person-to-person and face-to-face with excellent customer service. If you could nail these basics, you were golden. It was challenging work, but the rules made sense.

The digital age & a new frontier

Being a great salesperson is only half the battle today, and now, you need to be a digital wizard. As a business owner, you’re checking website tracking, tracking online sales, and tweaking your SEO.

Internally, you’re constantly questioning your business: Is your website driving enough visitors, and are they buying anything?

These are things I never thought about 30 years ago. That’s without mentioning social media – don’t get me started! It’s no longer enough to have a sparkling store; you must have a professional account on platforms such as Instagram, Facebook, and TikTok.

Every post, every reel, and every story needs to reflect your brand – and don’t forget to keep an eye on Google reviews. After one bad review, you’ll be sent scrambling for damage control.

You must also master paid advertising, content marketing, and ranking on Google like it’s a second job. Your brand’s online presence is now as crucial as your physical store. It’s like playing chess with a dozen opponents around the clock – and there are no bathroom breaks!

The competition is global now. Remember when your biggest competitor was the jewellery store across the street?

Those were the days! Now, you’re competing not just with other stores but against Amazon, Temu, Shein, and eBay. They’re selling everything from engagement rings to fashion jewellery – faster and cheaper.

Wholesalers who once exclusively supplied retailers are selling directly to consumers. Digital tools allow customers to design online and cut out the ‘middleman’ – me!

It’s enough to make you nostalgic for the days when securing a good location and maintaining shiny windows were your biggest concerns.

People, passion & perseverance

Despite the industry’s evolution, one thing hasn’t changed — the importance of people. My relationships with my family, friends, staff, and customers have kept me grounded.

Thirty years ago, I had mentors who showed me the ropes, and now I’m surrounded by an amazing staff and a loyal customer base.

I’ve formed strong partnerships with suppliers — some of whom I consider family — and built a network of fellow jewellers who’ve shared this journey with me.

No one makes it alone! You need the right buying group, the best suppliers, solid mentors, and a dedicated staff. Those relationships are what help you through the toughest challenges.

Looking ahead, the road appears tough; however, I’m confident we’re ready for the challenge. The future of jewellery retail seems increasingly competitive and complex. It might be more fast-paced than ever; however, after 30 years, I know one thing.

While the tools and trends may change, the core of the business – people, passion, and perseverance – will always be the heartbeat that keeps us going.

If you love what you do, every challenge is just another part of a journey I wouldn’t trade anything for. 

Name: Romel Santos
Business: Santos Customs
Position: Owner
Location: Sydney, NSW
Years in the industry: 30

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