Mr Ho Nai Chuen

President, Singapore Jewellers Association

Distinguished Guests

Ladies and gentlemen

Good morning

THE JEWELLERY SECTOR IN SINGAPORE

1.         I am happy to be here this morning at the Awards ceremony for the Quality Jewellers of Singapore Scheme. I would like to applaud the Singapore Jewellers Association for its efforts in developing this initiative that will benefit the jewellery industry. This is indeed a good example of how an industry-led initiative can transform and make a difference to all the jewellery players.

2          The jewellery sector is an important component of our retail industry. There are close to 680 jewellery retailers in Singapore, employing some 3,500 workers. In 2002, the value added per worker for the jewellery industry is $50,460. This is close to 1.7 times that of the retail industry average of $30,600. In terms of sales, the jewellery trade contributes more than $1 billion to our local economy.

3          According to the 2002 Singapore Tourism Board’s (STB) Overseas Visitors Survey, jewellery expenditure accounts for S$286 million. This is about 10% of the total shopping expenditure by overseas visitors. In fact, I was told that jewellery has been consistently ranked as one of the top three products that generate the highest shopping expenditure by tourists. Why is this so? This is thanks to Singapore’s strong reputation as a popular destination offering a wide variety of high quality products at competitive prices.  We offer reliable services, good product knowledge and a safe and secure environment that offers shoppers peace of mind. These positive attributes have spurred STB to actively market Singapore as the jewellery hub of the region to overseas visitors.

DIFFERENTIATING OUR JEWELLERY INDUSTRY

4.         The jewellers recognise that Singapore’s reputation worldwide for the authentic products we sell is our best competitive advantage. We must therefore capitalise on this.  With the industry enjoying a growth of about 1.5% per year for the past three years, the jewellery retailers have rallied together under the association umbrella to embark on the Industry Capability Upgrading Programme or ICAP some time ago to chart out its strategic direction. The ICAP project was supported by SPRING Singapore and the Workforce Development Agency.

5          Under the ICAP project, the industry has spelt out five strategic thrusts in order to spur further growth. These include creating a stronger branding through better designs, enhancing the skills level of the jewellery workforce, launching jewellery trade fairs and consumer events to encourage purchase, setting industry standards by having a Mark of Trust and ultimately growing globally.

6          Today, we are here to witness the first batch of jewellery retailers who have taken a bold step to be certified under the Quality Jewellers of Singapore Scheme or QJS. The introduction of this scheme is an effective means to sharpen that competitive edge for our jewellers. We have heard of instances where some travel agents have taken overseas visitors, especially Chinese tourists, to jewellery factories selling lower quality jewellery. This has tarnished our image.  If we are serious about maintaining Singapore’s sterling reputation as a jewellery hub, we must ensure that tourists are assured of quality when they shop here. This is just as important for our local shoppers.

THE QUALITY JEWELLERS OF SINGAPORE SCHEME

7          The QJS scheme is thus intended to build strong customer confidence, enhance brand recognition and in the process improve the long-term bottom line for jewellers.  With this trust mark, jewellers can now proudly display their decals on their storefront. Similarly, customers who shop at these outlets are assured of quality service.  Jewellers who are certified demonstrate that they have fair and transparent business practices too.

8          I understand that the QJS Scheme was only launched at the end of last month (ie October 2004). By today only two months later, we are happy to note that 40 jewellers representing 152 outlets will be receiving the QJS award. My warmest congratulations to today’s recipients.

BEST PRACTICES OF QJS JEWELLERS

9          I would like to take this opportunity to highlight three key best practices that have been adopted by QJS jewellers. This can be a learning point for those yet to be certified to emulate.

10        The first best practice is Service Reliability and Consistency. This pertains to having put in place a business system within the organisation. At Lee Hwa Jewellery, its staff provide consistent and reliable information at all its outlets as a result of a comprehensive service documentation system. Customers can be assured that whichever outlet they are at, they will be treated equally and with the same high levels of service and integrity.

11        The second best practice is Transparency.  It is important that jewellers are honest and accurate with their marketing communications materials. Jewellers must also not make claims that product prices are discounted during a sale or promotional period when they are not. Larry Jewelry implements clear marketing materials without ‘bait and switch” sales tactics to attract customers. By having such a transparent policy, customers are assured that sales promotions are genuine and the bargains they get are indeed so.

12        The third best practice is Service Excellence. QJS jewellers have trained professional staff with good product knowledge. That is why customers enjoy shopping with them and keep returning to their stores. The secret is very simple. Excellent service, friendly staff, and a memorable shopping experience. Orient Goldsmiths & Jewellers is one jeweller who believes in treating all its customers like friends and it has good and reliable customer relations with all its clients.

CONCLUSION

13        In conclusion, I would like to congratulate the Singapore Jewellers Association for its leadership and commitment in rolling out this scheme. For those who have been certified today, this is only the beginning of a journey. For those who have yet to participate in QJS, I urge you to come forward.

14        I wish all of you every success in your sparkling trade. And I look forward to seeing more QJS decals being displayed throughout our jewellery outlets.

Thank you.