By Emily Hawkins
A wedding “catch-up” boom post-pandemic has driven momentum for jeweller Beaverbrooks, its top boss told CityA.M.
After the Covid-19 lockdowns saw many couples put plans to get hitched on hold, the easing of restrictions has seen a boom in plans for nuptials, driving ring sales, Anna Blackburn said.
The pandemic spurred some couples to get engaged as “if you can get through Covid together, you can get through anything,” Blackburn said.
The business has a 70-store strong estate, as well as an online business, with plans to expand even further in the coming years.
Despite rising inflation making things “increasingly difficult” for some shoppers, Blackburn is optimistic that the firm’s role in helping Brits to mark their big life milestones
Ahead of today’s Budget, Blackburn called for a review of business rates, to create a “fairer system” between online and brick-and-mortar retailers.
She also called on the Chancellor not to hike corporation tax to help private companies like hers that hoped to “expand and grow”.
However, Beaverbrooks were “realists”, she said. “We don’t expect the government to do everything for business.”
It wouldn’t be a surprise if a company that recently celebrated its 100th year found itself by changing times. However, Beaverbrooks was keen to adapt with the “evolution of the high street,” Blackburn explained.
Although retail footfall has waned for a number of years, even pre-pandemic, Blackburn is still optimistic – there might be fewer shoppers about, but that doesn’t mean the ones that have braved the high street aren’t eager to splash their cash.
“We always say that the biggest sign a customer wants to buy something is them walking through our door.”
Offering shoppers a good experience was also key to the new world facing retailers today, be it a glass of prosecco or thoughtful advice on which piece to choose. “That’s what customers are looking for,” she said.
Still, the diamond-seller wasn’t immune to the ailments plaguing its high street neighbours. Energy costs have “gone through the roof,” with air-conditioning costs in summer as much of an issue as heating bills in the winter.
After the demise of names such as Joules and Made.com in recent weeks, Blackburn concerned about the economic tubrulence’s lasting impact on the sector?
Each year brings “post-Christmas casualties” but the high street “will bounce back and re-invent,” she told CityA.M.
High streets had begun to see more experiential offerings and more hospitality venues, with consumers now eager to find “pastimes” as well as traditional retail sites.
“Without the right support, I worry some good retailers will go [but] we see that every year,” she said. “It’s never good to see any retailers to go.”
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