Jean Dousset, the renowned designer and founder of the eponymous jewelry brand specializing in lab-grown diamonds, reconsiders his approach to promotions after foregoing them during this year’s Cyber 5 shopping period. Dousset, formerly associated with prestigious jewelry brands such as Chaumet, Boucheron, and Van Cleef & Arpels, admitted that his decision not to run any promotions during the major shopping period was a misstep—one he does not intend to repeat.
Having previously worked for global brands that typically avoid promotions, Dousset acknowledges that despite positioning his brand as luxury, promotional strategies are essential for business growth. The jewelry retailer, which has been exclusively selling lab-grown diamonds since April 2023, primarily operates online, with a showroom in West Hollywood that opened in September.
Reflecting on his recent experience, Dousset reveals that the decision not to run Cyber 5 promotions was influenced by habits acquired from working with major brands. However, a brief test in early November, offering new customers a 10% discount for sharing their email address, yielded highly positive results. Dousset notes a significant increase in conversion rates, leading to the highest sales month since the introduction of lab-grown diamonds in 2021.
The success of the promotion with new customers has prompted Dousset to reconsider his stance on promotions. He recognizes that promotional levers can be effective for business growth, contrary to his previous belief that promotions might devalue the brand. The shift in perspective is underscored by the realization that promotions are an integral part of the retail landscape.
While the promotional strategy worked well with new customers, Dousset acknowledges a different outcome with existing email subscribers. Despite being less successful, the overall positive impact has convinced Dousset to actively engage in the heavy promotional period next year during Cyber 5.
In conclusion, Dousset states, “I’m a changed man. Promotions don’t devalue brands. It’s part of the retail landscape.” This change in approach aligns with the industry trend, as 92.0% of Digital Commerce 360’s panel of 100 online retailers from the 2023 edition of the Top 1000 advertised some form of offer on Cyber Monday, highlighting the significance of promotions in the competitive retail environment.
