This page contains a simulation for Nordstrom's Men's Jewelry & Cuff Links Department. The information presented below includes:
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A statement on the department's mission.
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Profiles on the demographic of three malls.
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Trend forecasting reports on men's jewelry.
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A product development sample.
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A six-month plan for 2022.
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Buying plan by vendor
The learning outcomes include product design for a specific industry segment, demographic analysis, tracking trends within the market through visual reports, and buying and assortment plan development.
Men's Jewelry & Cuff Links Department
Mission Statement:
To create the ultimate destination in jewelry shopping for all guests by meeting our clients ' needs and offering outstanding pieces, impeccable value, and exceeding all expectations. Our commitment to complete customer satisfaction is behind every expertly selected jewelry piece. Enjoy the services and client-driven selections our dedicated team has curated just for you.
Demographic Profiles:
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Researching population demographics taught me how to create designs based on the buying patterns in specific areas that cater to their needs and fit their lifestyles.
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Store #222: Mall of America Bloomington, MN
Average Age of Purchaser: 38
Average Family Income: $6794.00
Average Purchase in Dollars: $150.00
Fashion Attitude: Conservative, sophisticated, and fashion forward
General Attitude:
Colors: Silver, Black, and Brown
Advertising: Online and instore sales
Style: Formal wear, Casual when out
Lifestyle:
College educated, technology driven, influential in community, Eat out constantly, home owners, family life, and drive everywhere.
Median Age: 38.3
Store #282: Mayfair Mall Wauwautosa, WI
Average Age of Purchaser: 41
Average Family Income: $79339.00
Average Purchase in Dollars: $195.00
Fashion Attitude: Conservative, sophisticated, and Smart
General Attitude:
Colors: Gold, Blue, and Brown
Advertising: Online and instore sales
Style: professional wear , Casual when out.
Lifestyle:
College educated, use technology in every aspect of their lives, support military veterans, have children, home owners, family driven, and drive everywhere.
Median Age: 40.6
Store #283: Ridgedale Center Minnetonka, MN
Average Age of Purchaser: 42
Average Family Income: $87890.00
Average Purchase in Dollars: $250.00
Fashion Attitude: Conservative, sophisticated, and Smart
General Attitude:
Colors: Gold, Blue, and Silver
Advertising: Print advertisement, instore sales
Style: professional wear, Casual when out.
Lifestyle:
College educated, above average technology users, money conscious, considering retirement, suburban life, home owners, family driven, and drive everywhere.
Median Age: 42
21/22 Trend Report:
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Through forecasting reports, I learned how to recognize growing trends and use them as inspiration for a set market category that stays consistently in tune with competitive brands and market movements.
Trend #1: Pearls
Pearls for men are one of the current trends in jewelry. With the rise of gender fluidity in fashion and mainstream celebrities popularizing this look, plastic or genuine pearls are a must-have. White pearls in a row or paired with silver chains give any man's outfit a modern touch.
Trend #2: Colorful Bits
Bracelets and necklaces with many colors consistently appear in various jewelry brands like Channel and ALIOU collections. Beads made of glass, plastic, and ceramic are available at every price. Red, blue, and yellow are the core colors of this trend, with additional colors added depending on the brand. Pieces like the examples shown give any outfit an instant splash of color.
Trend #3: Name Brand
Jewelry that shows off the name of brands is a growing direction in men's jewelry. Rings, earrings, chains, and brooches in precious metals are a way to spell out brand loyalty. Mostly showing up in yellow and white gold, brand logos are well represented on social media, recarpets, and magazine photoshoots.
Product Development:
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This mock product development sample allowed me to produce and pitch category-specific products based on market research with original flat sketches inspired by existing products offered by the David Yurman Brand.
Sterling Pearl Mini-Collection
This limited-time three-piece mini-collection collaborates with David Yurman exclusively for the Nordstrom Men's Jewelry & Cuff Links Department. The David Yurman brand is a bestseller within the department, and these three pieces will surely be crowd-pleasers. The price range varies, so consumers from all economic levels can afford to buy an item from this collection. The designs are not intimidating for the conservative consumer, who is the majority within the consumer market. All three jewelry pieces fit seamlessly with the Yurman brand while offering something unique. This selection taps into the current trends of pearls and name brands.
To generate sales and tie in with the oceanic theme of this collection, 10% of all proceeds will donated to the Ocean Conservancy. The nonprofit environmental advocacy group seeks to promote healthy and diverse ocean ecosystems by advocating against practices threatening marine and human life.
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Six Month Buying Plan & Assortment Plan:
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Using buying and assortment plans, I learned how to stay within an assigned budget and prepare a blueprint that helps me sell the selected items six months in advance.
Buying and Assorment plan Justification:
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Nordstrom's top brands are David Yurman, Cufflinks, Inc., Caputo & Co., and John Hardy, which make up 70% of all assortment for men's jewelry and cufflinks.
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These brands have items that appeal to our consumers ' lifestyles and tastes.
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20% of the assortment comes from other brands, primarily higher-end brands. At the same time, the remaining 10% is composed of new brands, such as the Yellow Owl Workshop and Little Words Project.
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Based on population demographics, our customers are looking to spend money on items that relate to their interests while at affordable prices. Our four leading brands carry such things in styles that appeal to a large part of the demographic.
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The new brands within the department carry jewelry made from trending materials and in colors that differ from our core vendors.
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While looking through our competitor's sites, I noticed they are selling peal and colorful beaded jewelry, which are currently trending and offered by these new vendors.