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Beaverbrooks enjoys strong trading post-lockdown

Beaverbrooks has reported a surge in revenue since its stores reopened last week after sales rose by 30% year-on-year on the first day of trading alone. The jeweller said it benefited from… View Article

FASHION

Beaverbrooks enjoys strong trading post-lockdown

Beaverbrooks has reported a surge in revenue since its stores reopened last week after sales rose by 30% year-on-year on the first day of trading alone.

The jeweller said it benefited from a rush of customers who descended on its stores to purchase watches, diamonds and jewellery after three months of lockdown. Shoppers also spent more than usual as the average transaction value on jewellery and watches increased by 23%.

Despite a brief closure of its online operations in March, the family owned company still experienced a steady increase in demand for jewellery and watches while its 70 stores were closed. It reopened 58 shops in England and one in Northern Ireland on 15 June.

Anna Blackburn, managing director at Beaverbrooks, said: “Customer feedback and enquiries over the past 12 weeks indicated that the demand was there for in-store shopping, but of course there was an element of uncertainty when we reopened 59 of our stores last week. However, the first week of trading has been incredibly positive, and we’re feeling cautiously optimistic that consumer confidence is starting to return.”

The company is planning to reopen four of its 11 stores in Scotland from 29 June while waiting for further updates from the Scottish Government on when stores in shopping centre locations will be able to open.

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