Increasing visibility of Tiffany’s men range
As identified in Assignment 2b), 87% of our survey respondents have commented on the poor visibility of the men’s products. Many of the survey respondents are male clients purchase Tiffany’s products as gifts for females. Yet, this group of male clients has purchased fine jewellery for themselves from other brands but not from Tiffany. Therefore, we see a significant opportunity of converting these gift-givers to affluent self-buyers as well.
Despite Tiffany having a range of male products, the collection is small and hardly any new designs are introduced for the Singapore market. This results in a depleting interest and lack of awareness from the consumer’s side.
Under the trends for male jewelry, we see that the new generation of male vanity coupled with growing affluence of the Asian market. Increasingly more men in Singapore display their fashion sophistication by donning male jewelry. As such, many jewelry brands are extending their male range to capture this trend. With stiffing competition and a lackluster male collection, it will detriment Tiffany’s sales and brand value.
There are many benefits of introducing an extensive range of men’s jewelry. Besides, capturing the existing gift-givers that is mostly males, Tiffany can also redefine the culture of gift-giving, by encouraging females to buy male jewelry as gifts for men and men can also buy them for their friends.