AU3 GOLDSMITHS – Customer insight and go-to-market tool
Navigating international growth: Strategies for a Nordic jewellery brand
Navigating international growth: Strategies for a Nordic Jewellery brand
AU3 GOLDSMITHS – Customer insight and go-to-market tool
Background
Artisanal fine jewellery
Au3 Goldsmiths is a design-oriented goldsmith’s company from Helsinki, established in 2003, specialising in fine artisan-made jewellery. In Finland Au3 has their own store, retailers, and a web shop. The breakthrough for the company came in 2017 when a ring from one of the collections was nominated the Most Beautiful Ring of the Year in Finland. The Keto Meadow collection was expanded and gained a lot of attention with its signature colourful gemstones. Au3 aimed for expansion, beginning with a focus on the Nordic markets.
Artisanal fine jewellery
Au3 Goldsmiths is a design-oriented goldsmith’s company from Helsinki, established in 2003, specialising in fine artisan-made jewellery. In Finland Au3 has their own store, retailers, and a web shop. The breakthrough for the company came in 2017 when a ring from one of the collections was nominated the Most Beautiful Ring of the Year in Finland. The Keto Meadow collection was expanded and gained a lot of attention with its signature colourful gemstones. Au3 aimed for expansion, beginning with a focus on the Nordic markets.
Expanding to new markets
The Nordic entry strategy
The online platform built in 2019 was the first step in Au3’s internationalisation strategy and through the web shop they noticed a demand outside of Finland as well. The Keto Meadow collection had captured hearts around the world, and Au3 wanted to expand abroad to Sweden, Norway and Denmark. To do so effectively, they asked Kuudes to help with understanding and finding the right entry point for these markets.
We sought answers to many open questions:
How do the markets differ from Finland in terms of trends and the competitive landscape?
Who is our potential customer and how to resonate with them?
How does the customer journey look like and what channels are relevant for us at what stage?
Kuudes was set to define:
→ a detailed target group and sales model
→ the best marketing methods and channels
→ a more precise purchase path to the market
Agile research methods
Jewellery market scan
To gain insights, Kuudes conducted interviews with stakeholders including current and potential customers and professionals in the jewellery field. In addition, we utilised our Informed Consumer study to understand consumers’ values and motives relating to the jewellery category, as well as conducted desktop research about the competitive landscape and trends.
The Informed Consumer study allowed us to recognise Au3’s target groups in the Nordics and to compare the differences in their values. The Informed Consumer is an extensive research conducted by Kuudes, which focuses on consumers’ values, attitudes, and motivations. We use the research as a practical and efficient segmenting tool when designing user-centric brand-, product- and service concepts and a better customer experience.
We selected the segments that exhibit the most significant potential for Au3. Leveraging our strong insights and data, we were able to provide practical recommendations on how to address the target groups’ motivations and barriers, as well as what to communicate to win them over. Having a well-defined target group to guide brand development at every stage is crucial for establishing coherence and emotional relevance.
Agile research methods
Jewellery market scan
To gain insights, Kuudes conducted interviews with stakeholders including current and potential customers and professionals in the jewellery field. In addition, we utilised our Informed Consumer study to understand consumers’ values and motives relating to the jewellery category, as well as conducted desktop research about the competitive landscape and trends.
The Informed Consumer study allowed us to recognise Au3’s target groups in the Nordics and, to compare the differences in their values. The Informed Consumer is an extensive research conducted by Kuudes, which focuses on consumers’ values, attitudes, and motivations. We use the research as a practical and efficient segmenting tool when designing user-centric brand-, product- and service concepts and a better customer experience.
We selected the segments that exhibit the most significant potential for Au3. Leveraging our strong insights and data, we were able to provide practical recommendations on how to address the target groups’ motivations and barriers, as well as what to communicate to win them over. Having a well-defined target group to guide brand development at every stage is crucial for establishing coherence and emotional relevance.
The main insights from the research:
Price points shaping jewellery conservatism
The Nordic jewellery market, as a whole, tends to uphold a conservative approach to jewellery design, especially at higher price points, where customers often even expect this. When it comes to high-end jewellery, like engagement rings, individuals typically make lifelong decisions and approach such purchases with great care and consideration.
Emotional brand connection is key
However, although consumers in this category and at this price point often prefer more traditional jewellery designs, the brand needs to remain intact, connect emotionally, and reflect a certain lifestyle. We must be very conscious of how we want to stretch the brand and what will be powerful for our own target group.
End result
Go-to-market tool
The client received a user-friendly go-to-market tool including the main interview findings, industry trends and phenomena, visual content depicting the main target groups, providing insights into their values, motivators, and other relevant details, channel recommendations, a defined purchase path and engaging communication content examples.
”The Kuudes team showed a high level of enthusiasm and a genuine interest in our company, its development, and the entire project. We felt like we were speaking the same language. The process moved forward at a rapid and efficient pace. We were able to achieve results quickly, which not only led to ideas for immediate solutions but also provided valuable insights for our long-term development efforts.”
Jussi Louesalmi
Co-founder and goldsmith, Au3
For more information:
Michael Biaudet
Country Manager Sweden,
Senior Strategist
michael.biaudet@kuudes.com
