• After expanding to 100+ locations and growing its online business, Daniel’s Jewelers turned to RetailNext to measure the impact of digital campaigns on in-store traffic
• For the first time, Daniel’s Jewelers was able to access accurate key store performance metrics like traffic, occupancy conversion, and average transaction value-boosting sales, improving operations, and most importantly, uplifting the customer experience 
• Known for treating customers like family and offering the highest-quality gems and sustainable lab-grown diamonds, Daniel’s Jewelers is now one of the fastest-growing jewelry companies in the U.S. 

RetailNext, the leading in-store traffic analytics provider used by 450+ of the world’s most loved retail brands, today unveiled its strategic partnership with one of the fastest-growing jewelry companies in the U.S., Daniel’s Jewelers. Boosting digital advertising in the last five years, the family-run jeweler turned to RetailNext to analyze the impact of digital solutions and support its brick-and-mortar expansion. 

Remaining agile to changes in consumer preferences has been key to the jeweler's 76-year history—whether that be advertising across new mediums or catering to shifting preferences for offerings like lab-grown diamonds, which are now responsible for 17% of the total diamond market. Acknowledging these evolving preferences, Daniel's Jewelers intensified its digital advertising efforts to reach younger audiences online, inviting them to learn more about their wide array of products and try them on in-store.

“The jewelry sector is incredibly competitive, so access to reliable and comprehensive data is crucial to our business. We appreciate the econometrics side of the RetailNext business in the form of industry traffic indexes,” said David Sherwood, CEO of Daniel’s Retailers. “The RetailNext weekly analysis is helpful, especially from a board perspective where third-party data is highly valued. Partnering with a vendor that has a pulse on all parts of retail, but specifically in the jewelry industry, is something that I have come to rely on a lot over the last few years.” 

Diamonds Are Forever and So Are Happy Customers ~ Here’s How RetailNext Became an Indispensable In-Store Data and Insights Solution for the Storied Jeweler   

Prior to RetailNext, Daniel’s Jewelers relied on various sources of store data that were manually collated and then piped through the PoS (point of sale) system to measure performance. Unsurprisingly, these data sources did not provide the level of insights needed to measure the impact of evolving digital strategies on in-store foot traffic. The retailer’s camera system was also outdated and failed to allow instant access to more remote environments, especially following incidents of theft or vandalism.

That changed when Daniel’s Jewelers implemented RetailNext’s Traffic 2.0 solution across its 100+ locations nationwide. The solution, powered by RetailNext’s AI IoT device, Aurora, allows instant access to high-resolution recorded video by fusing 3D imagery and deep learning technology. Aurora enabled Daniel’s Jewelers to visualize and analyze traffic trends, perform self-audits, bolster its asset protection applications, and glean new insights into key performance metrics, including occupancy, conversion, and average transaction value. 

The metrics allowed Daniel’s Jewelers to better understand its digital campaign performance regionally, and at individual stores, offering crucial KPIs that tracked store traffic trends on a day-over-day, week-over-week, and year-over-year basis. By equipping stores with Aurora, Daniel’s Jewelers was able to ensure the active engagement of security guards, assist law enforcement with HD images and manager statements for incidents, and collaborate with security experts to enhance store security against thefts and vandalism.

"Stores don’t have time to manually sift through data to figure out what’s working and what’s not,” said Alexei Agratchev, CEO and Co-Founder, of RetailNext. “Our partnership will continue to support Daniel’s Jewelers with real-time, AI-powered analytics as they expand their brick-and-mortar presence in this increasingly competitive market.”  

With RetailNext’s Traffic 2.0 installed in its stores, Daniel’s Jewelers could also analyze traffic trends with a focus on “power hours.” This helped to clarify previous assumptions about when store traffic was up or down, and when to staff its best performers. For example, the brand found store traffic increased on Sundays in almost one-third of its stores compared to the rest of the week. In response, Daniel’s Jewelers revamped its shift schedules for store managers at its so-called “Sunday Stores” to ensure managers worked on Sundays in those stores.

“We've seen a definitive increase of in-store productivity as a result of reviewing our staff schedules,” said David Sherwood, CEO of Daniel’s Jewelers. “You always want your best sales associates to be on the floor when the most customers are there. And by realigning our Sunday shift schedule, we've been able to do that in a third of the chain, where Sunday volumes have increased.”

To learn more about RetailNext’s partnership with Daniel’s Jewelers, visit https://retailnext.net/resources/caseStudy/case-study-daniels-jewelers-2024