Day: August 12, 2020

Qoin and your Business

New Qoin merchants are receiving 250 Qoin just for joining up. But do it for the right reasons. Jewellery World caught up with Andrew Barker,…
Posted in Business, Tech

New Qoin merchants are receiving 250 Qoin just for joining up. But do it for the right reasons.

Jewellery World caught up with Andrew Barker, CMO of Qoin recently to get an update on how things are travelling in the world of Qoin.

Firstly Andrew, we ran a piece regarding Qoin early July where we looked at Smales Jewellers in WA, others that were part of the Qoin community and what they saw in Qoin. How have things progressed over the past month or so?

Hey Jeremy, thanks again for having me. Well, I can say that the first 6 months of Qoin has been an experience beyond anyone’s expectations. After the article published last month, we saw another merchant’s adoption record broken, something that has occurred every month since January. Well over 3000 merchants became part of the Qoin community in June taking our merchant eco-system to now over 7500 merchants.

Did you receive some interest from our story last month?

Yes we did. I think, like many industries over the past number of months, business operators have been forced to look at alternate ways to generate revenues. Whilst many think that COVID has affected the retail sector mainly, it is the underlying domino effect across the board of every industry. From supply issues with industries relying on product import, to wholesalers who are moving less stock due to retail taking a hit. So, we had a good level of interest from Jewellery World subscribers but I would encourage everyone to at least have a look.

I think a number of people shy away when the word Crypto is raised but Qoin is a little different, from what is read?

You’re absolutely right, and it has been an interesting 6 months of market education and fielding of “sceptical questions”! Firstly, from the “non-crypto” educated, I have always said that we have 2 core objectives as Qoin Australia. Firstly, to grow the Qoin brand in the market, but more importantly, to educate the general public on digital currency and the benefits to everyday business owners. I believe we have started achieving that by making the message simple to business owners. Qoin offers a business an additional sales channel. A business accepting Qoin now has exposure to 7500 potential customers in the Qoin community and shortly, the consumer market will be opening up as well, meaning even more potential customers. 

And the “Crypto geeks”. How have they seen Qoin.

It’s certainly been an interesting space. I have joined a number of Crypto SM groups and the conversation has been mixed. From the absolute traditionalists that think Crypto is just tradable tokens/coins and that Qoin won’t work to the highly inquisitive. Our message to this sector is pretty straight forward. I like to think that Qoin has re-engineered and is “humanising” the Digital Currency space. The majority of Crypto’s that have launched in the last 10 years have been purely tradable. Sure, there are a few outlets around the world that accept Bitcoin but the majority are just tradable tokens on an exchange. Many though, due to the global economic crisis and more so, economic forecasts, are now looking to adapt their coins/tokens to be able to be used for everyday purchases. Qoin started, based on over 30 years of success in the SME space globally, by building a community of merchants and shoppers first, growing that community and then taking Qoin onto an exchange to be able to be traded. This is planned for November 2020. We also have a support team, and a 100+ strong independent Agent force around the country putting a face to a Digital Currency. We are quite unique in how we are going about it. And yes, we know we have many supporters already and will always have the sceptics as well. When doing something very different, you need to learn to work with the sceptics.

So, to the jewellery industry, where is the benefit?

In looking at the three main sectors within the industry, manufacturing through to wholesale through to retailers, the question is around idle stock and additional customers. If any of these sectors have either or both of these, then having a look at Qoin is my recommendation. Qoin offers a zero-entry point and zero transaction costs so taking on additional customers who are paying in Qoin adds no additional costs to acquisition. The added advantage is the increasing value in Qoin. Qoin is backed by goods and services within the algorithm which in simplicity means that every new merchant that completes the registration and directory process and becomes part of the Qoin eco-system contributes to the increasing value of Qoin. The original Qoin value started at 15c and as of beginning of August it is at $1.54. So, the sale of that Diamond ring at $1,000 worth of Qoin when it was 15c is now obviously worth a lot more.

That being said though, you mentioned that Qoin can only be traded for cash in November when it goes on exchange, so how is that value increase realised before then?

That’s a great question. There are now transactions happening every day in the Qoin community. Like Smales that you profiled last June, they have been taking on additional customers for a few months now from all parts of Australia. Those people spending their Qoin with Smales are realising a value as they are using it for everyday purchases. As a simple example, if someone had acquired Qoin at 15c and then purchased a watch when the Qoin value was 30c, they realised a value double of what they acquired it at.

So, to finish up, what should our readers do?

As mentioned, with zero cost to become a Qoin merchant, and zero transaction cost, it is worth taking a look at. Merchants are simply taking on another method of payment in their business. To learn more about the Qoin difference, merchants can go to https://shop.qoin.world/jwqoin/ which contains a step by step guide and each merchant will receive 250 Qoin as a promotional gift for signing up. Merchants can also request an online or in person presentation with myself by quoting Jewellery World promo and emailing it to me at jeremy@jewelleryworld.net.au

Here’s why you should be selling platinum

DARREN SHER Director, Chemgold Many of today’s buyers are interested in purity and sustainability. Rather than valuing material goods, these consumers prefer sentimental stories and…
Posted in Gold, Metals

DARREN SHER Director, Chemgold

Many of today’s buyers are interested in purity and sustainability. Rather than valuing material goods, these consumers prefer sentimental stories and memories that they can pass down to their children and grandchildren. Platinum pieces pair perfectly with the aspirations of young couples and with the idea of purity within long-term relationships. As a result, platinum is becoming increasingly popular. Another reason for platinum’s continued popularity is with its price at record lows.

The spot ASK price of platinum is approximately $40 per gram. Although the global pandemic might be behind some of the recent drops in prices, there are several other factors that drive these lower prices. For instance, unlike gold, platinum does not carry monetary value, but instead industrial value. Up until recent years, platinum was used in car manufacturing but has been replaced by palladium. This frees up more platinum for jewellers to purchase and sell, rather than having to compete with other industries that need the precious metal.

A major selling point for platinum is that it has a natural white colour and will not fade over the years. Today’s consumers are more likely to consider goods that are more natural with less processing and find themselves attracted to the purity and beauty of platinum.

It is important to educate buyers on the differences between white gold and platinum. White gold is only achieved through bleaching. Nickel and palladium are the main bleachers of gold followed by zinc, silver, gallium and indium. Palladium is preferred as typically most skin allergy reactions occur with metals that contain nickel.

Selling platinum to a satisfied customer is an amazing feeling because it is a product that will endure. With proper care, platinum can last and protect precious stones for a lifetime. The difference is that gold will wear down, whilst platinum will be displaced making a stone more secure in a platinum setting. This feature appeals to buyers that imagine beginning new traditions and passing down family heirlooms.

Jewellers looking to take advantage of low platinum prices and stock their inventory should take care to find the highest quality casting and fabricated alloys. Chemgold’s platinum has incomparable qualities, innovative material properties, outstanding workability and a brilliant white colour. With their platinum, jewellers can be confident of its quality and zero allergenic alloys like cobalt. With state-of-the-art platinum, jewellers can cultivate the next generation of platinum buyers that will be satisfied for years on end.

Visit Chemgold for more information.

Further reading:
Platinum brings value and growth to recovering jewellery industry

COVID report, August 2020

August 2020
Posted in Business, JAA News

In March 2020, Australia changed. COVID-19 put a halt to the way we operate. International borders were closed, state borders were closed, entire industries were shut down overnight and other industries were brought to a standstill due to the population being urged to stay at home. You all know this as you have lived through it.

The JAA wanted to know how your business has fared in this extraordinary time. So, we have undertaken two surveys of our members to understand the impact that COVID-19 has had on our industry. The first survey was undertaken at the end of March. It focused on the main concerns of our members at the present time and the assistance that the JAA could provide. The main concerns were around health and the risk to oneself, family or staff being diagnosed with COVID-19.

Cashflow to pay rent, staff and ongoing expenses was a major concern, as well as the lack of customers and the length of restrictions that would impact the jewellery industry. Of course, the economic impact on the survival of the business was on everyone’s mind. In terms of requiring immediate assistance, the majority of respondents named financial relief through rent and wages, loan options and tax exemptions. Understanding employee entitlements during a pandemic was also top priority.

Given the overwhelming amount of information circulating, as well as the unknown outcomes of the situation, it was not surprising to learn that 78% of respondents reported that their employee’s mental health, as well as their own, was being adversely affected. Our follow up survey in June reported that this number had decreased to 47%. A testament to the actions taken by the government.

When it came to navigating employees’ pay and leave entitlements, 59% of respondents reported that they were aware and could manage, with 28% saying they felt at the present time they had not been able to reach out to anyone for advice or assistance. The remaining 72% stated that they received advice from their accountant, landlord, bank, lawyer, HR adviser, as well as government bodies.

The JAA was quick to act in response to COVID, assisting members with phone calls and emails relating to employer obligations in standing down staff, conditions in which a business may temporarily close, as well as rental relief questions. Further to this, over a period of two months the JAA has sent its members a variety of support information covering hygiene and safety practices within a business, rental reduction templates, mental health resources, JobKeeper and other financial support options available from State and Territory governments.

As well as information related to pivoting a business through marketing and productivity and free industry resources released as a result of the pandemic. Our follow up survey, conducted at the end of June, demonstrated that most businesses had re-opened or never closed, or now operate with restricted trading hours or by appointment only.

Those that have not reopened are located in high tourist precincts or areas in which customers had not yet returned, such as CBD locations. Since April, 87% of survey respondents reported a decrease in revenue between 21%-100%, with 21-40% the highest reported bracket. Furthermore, 69% expect revenue to remain the same or increase in the coming months. Sixteen percent of respondents reported that they had not been able to access rental relief and 13% expect to lay off casual staff in the coming months when JobKeeper ends.

In a drastically changing business environment, innovations are essential. Our member’s survey showed that the most common reaction was to focus on e-commerce channels, by either opening a new website or expanding an existing one. Close behind this was expanding social media presence.

This was equally followed by increased digital advertising and promotions, moving or expanding into new markets and collaborating with other businesses. Eleven percent of respondents reported that they have made no changes. The JAA is working very closely with members and industry bodies to ensure it brings benefits to its members and the wider industry during this difficult time. Work has begun to engage with government and enhance member offering, which will only continue as we work towards a brighter industry.

Further reading:
A professor of happiness explains how to deal with COVID-19

Qoin and your Business

New Qoin merchants are receiving 250 Qoin just for joining up. But do it for the right reasons. Jewellery World caught up with Andrew Barker,…
Posted in Business, Tech 980 Comments

New Qoin merchants are receiving 250 Qoin just for joining up. But do it for the right reasons.

Jewellery World caught up with Andrew Barker, CMO of Qoin recently to get an update on how things are travelling in the world of Qoin.

Firstly Andrew, we ran a piece regarding Qoin early July where we looked at Smales Jewellers in WA, others that were part of the Qoin community and what they saw in Qoin. How have things progressed over the past month or so?

Hey Jeremy, thanks again for having me. Well, I can say that the first 6 months of Qoin has been an experience beyond anyone’s expectations. After the article published last month, we saw another merchant’s adoption record broken, something that has occurred every month since January. Well over 3000 merchants became part of the Qoin community in June taking our merchant eco-system to now over 7500 merchants.

Did you receive some interest from our story last month?

Yes we did. I think, like many industries over the past number of months, business operators have been forced to look at alternate ways to generate revenues. Whilst many think that COVID has affected the retail sector mainly, it is the underlying domino effect across the board of every industry. From supply issues with industries relying on product import, to wholesalers who are moving less stock due to retail taking a hit. So, we had a good level of interest from Jewellery World subscribers but I would encourage everyone to at least have a look.

I think a number of people shy away when the word Crypto is raised but Qoin is a little different, from what is read?

You’re absolutely right, and it has been an interesting 6 months of market education and fielding of “sceptical questions”! Firstly, from the “non-crypto” educated, I have always said that we have 2 core objectives as Qoin Australia. Firstly, to grow the Qoin brand in the market, but more importantly, to educate the general public on digital currency and the benefits to everyday business owners. I believe we have started achieving that by making the message simple to business owners. Qoin offers a business an additional sales channel. A business accepting Qoin now has exposure to 7500 potential customers in the Qoin community and shortly, the consumer market will be opening up as well, meaning even more potential customers. 

And the “Crypto geeks”. How have they seen Qoin.

It’s certainly been an interesting space. I have joined a number of Crypto SM groups and the conversation has been mixed. From the absolute traditionalists that think Crypto is just tradable tokens/coins and that Qoin won’t work to the highly inquisitive. Our message to this sector is pretty straight forward. I like to think that Qoin has re-engineered and is “humanising” the Digital Currency space. The majority of Crypto’s that have launched in the last 10 years have been purely tradable. Sure, there are a few outlets around the world that accept Bitcoin but the majority are just tradable tokens on an exchange. Many though, due to the global economic crisis and more so, economic forecasts, are now looking to adapt their coins/tokens to be able to be used for everyday purchases. Qoin started, based on over 30 years of success in the SME space globally, by building a community of merchants and shoppers first, growing that community and then taking Qoin onto an exchange to be able to be traded. This is planned for November 2020. We also have a support team, and a 100+ strong independent Agent force around the country putting a face to a Digital Currency. We are quite unique in how we are going about it. And yes, we know we have many supporters already and will always have the sceptics as well. When doing something very different, you need to learn to work with the sceptics.

So, to the jewellery industry, where is the benefit?

In looking at the three main sectors within the industry, manufacturing through to wholesale through to retailers, the question is around idle stock and additional customers. If any of these sectors have either or both of these, then having a look at Qoin is my recommendation. Qoin offers a zero-entry point and zero transaction costs so taking on additional customers who are paying in Qoin adds no additional costs to acquisition. The added advantage is the increasing value in Qoin. Qoin is backed by goods and services within the algorithm which in simplicity means that every new merchant that completes the registration and directory process and becomes part of the Qoin eco-system contributes to the increasing value of Qoin. The original Qoin value started at 15c and as of beginning of August it is at $1.54. So, the sale of that Diamond ring at $1,000 worth of Qoin when it was 15c is now obviously worth a lot more.

That being said though, you mentioned that Qoin can only be traded for cash in November when it goes on exchange, so how is that value increase realised before then?

That’s a great question. There are now transactions happening every day in the Qoin community. Like Smales that you profiled last June, they have been taking on additional customers for a few months now from all parts of Australia. Those people spending their Qoin with Smales are realising a value as they are using it for everyday purchases. As a simple example, if someone had acquired Qoin at 15c and then purchased a watch when the Qoin value was 30c, they realised a value double of what they acquired it at.

So, to finish up, what should our readers do?

As mentioned, with zero cost to become a Qoin merchant, and zero transaction cost, it is worth taking a look at. Merchants are simply taking on another method of payment in their business. To learn more about the Qoin difference, merchants can go to https://shop.qoin.world/jwqoin/ which contains a step by step guide and each merchant will receive 250 Qoin as a promotional gift for signing up. Merchants can also request an online or in person presentation with myself by quoting Jewellery World promo and emailing it to me at jeremy@jewelleryworld.net.au

Serena Williams is unstoppable

Tennis icon Serena Williams, who launched her own fine jewellery line in late 2019, has now released a special edition jewellery capsule entitled Unstoppable, with…
Posted in Diamonds, News, World News 1,025 Comments

Tennis icon Serena Williams, who launched her own fine jewellery line in late 2019, has now released a special edition jewellery capsule entitled Unstoppable, with 100% of proceeds benefitting the Opportunity Fund’s Small Business Relief Fund.

This charity directly supports Black small business owners who have been impacted by the financial crisis caused by COVID-19. The jewellery capsule comprises a bracelet and necklace in sterling silver, each set with a single diamond, and engraved with the word Unstoppable. Williams says that the jewellery collection “represents serenity and unity, and is a reminder that your optimism and strength are unstoppable.”

Further reading:
Cara Delevingne joins TAG family

Hong Kong September fair postponed

The Jewellery and Gem World Hong Kong (JGW) trade fair, also known as HK September has been postponed until 9-13 November due to continuing travel…
Posted in Events, Trade Fairs, World News 2,278 Comments

The Jewellery and Gem World Hong Kong (JGW) trade fair, also known as HK September has been postponed until 9-13 November due to continuing travel restrictions and health concerns about COVID-19. JGW was originally scheduled for September in two venues: the loose precious metals exhibition was originally scheduled at AWE from 13-17 September, while finished jewellery and other related products was scheduled for 15-19 September at the Hong Kong Convention and Exhibition Centre.

The decision to hold JGW in November is to be a one-off arrangement. Despite rumours that the event may still be cancelled this year, the organisers state they are committed to supporting industry stakeholders by holding the trade fair. “We recognise that the spate of show cancellations and postponements in the first half of the year makes the JGW sourcing experience more important than ever for our community,” trade show organisers said in a statement.“It is the last global sourcing event on the jewellery trade show calendar this year, with the heaviest peak selling season just around the corner.”

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