disposable incomes and changing lifestyles. The industry is set to experience strong growth over the coming years. The trend towards increased online retailers will continue making ecommerce a critical component to the success of a start-up artisan. Because of the proliferation of artisans selling online, establishing the company as a trusted online retailer through quality products, customer reviews and exceptional customer service will play a greater role in branding a jewellery business. Local Market In the Halifax Area there are over 50 jewellery retail stores with approximately 5 times that selling only online. This excludes mixed merchandise stores in the area such as Sears that are also selling jewellery as part of their inventory. A survey of the market showed, 65% of these online merchants are selling items without the precious stones and metals, while 90% of retail locations were. Adornya will specialize in creating products with found materials and therefore will be competing against the larger online market, approximately, 160 stores. These are based on survey results completed by the Canadian Jewellers Association. Adornya will be located primarily online for launch. However, tie to Nova Scotia Adornya’s history naturally aligns their products with tourist boutiques. In the Halifax area there are three stores that focus on providing gifts and souvenirs to tourists. Adornya will target these boutiques to carry products increasing exposure within the local market. Adornya’s To generate further product awareness and exposure, Adornya will have be selling from a booth at the Halifax Market. There are two businesses that have been Seaport Farmer’s identified as direct competitors: Aflame Creations Jewellery and Foxine. There may be more over the course of the summer, as tenants renting booths at the market change. Many online reviews of the market and merchants have trumpeted it as a if in Halifax and ‘must-see’ praised the quality and craftsmanship of the products available for sale. These reviews of the market align with strategy of creating a trusted local brand with their target market. Adornya’s Key Competitors / SWOT Analysis Strengths Weakness Opportunities Threats Aflame Creations Well established Limited selection Provide history of Aflame Creations Jewellery with local product to create Jewellery could community No exposure to emotional move from product creation connection ceramic pieces to Online presence process crystal or pearls Adornya Well-constructed Not well-known in Create pieces that Other booths products from the marketplace reflect local could start to sell found materials community similar products without being Familiar with the ‘nautical themed’ local community Target Market
disposable incomes and changing lifestyles. The industry is set to experience strong growth over the coming years. The trend towards increased online retailers will continue making ecommerce a critical component to the success of a start-up artisan. Because of the proliferation of artisans selling online, establishing the company as a trusted online retailer through quality products, customer reviews and exceptional customer service will play a greater role in branding a jewellery business. Local Market In the Halifax Area there are over 50 jewellery retail stores with approximately 5 times that selling only online. This excludes mixed merchandise stores in the area such as Sears that are also selling jewellery as part of their inventory. A survey of the market showed, 65% of these online merchants are selling items without the precious stones and metals, while 90% of retail locations were. Adornya will specialize in creating products with found materials and therefore will be competing against the larger online market, approximately, 160 stores. These are based on survey results completed by the Canadian Jewellers Association. Adornya will be located primarily online for launch. However, Adornya’s tie to Nova Scotia history naturally aligns their products with tourist boutiques. In the Halifax area there are three stores that focus on providing gifts and souvenirs to tourists. Adornya will target these boutiques to carry products increasing Adornya’s exposure within the local market. To generate further product awareness and exposure, Adornya will have be selling from a booth at the Halifax Seaport Farmer’s Market. There are two businesses that have been identified as direct competitors: Aflame Creations Jewellery and Foxine. There may be more over the course of the summer, as tenants renting booths at the market change. Many online reviews of the market and merchants have trumpeted it as a ‘must-see’ if in Halifax and praised the quality and craftsmanship of the products available for sale. These reviews of the market align with Adornya’s strategy of creating a trusted local brand with their target market. Key Competitors / SWOT Analysis Strengths Weakness Opportunities Threats Aflame Creations Jewellery Well established with local community Online presence Limited selection No exposure to product creation process Provide history of product to create emotional connection Aflame Creations Jewellery could move from ceramic pieces to crystal or pearls Adornya Well-constructed products from found materials Familiar with the local community Not well-known in the marketplace Create pieces that reflect local community without being ‘nautical themed’ Other booths could start to sell similar products Target Market
Futurpreneur-Fashion-Example.docx