Unforgettable Moments: Pandora

Pandora was started by a local Danish Jeweller and has now become one of the top three largest jewellery brands in the world. Pandora has also been true to its first mission which was to “offer women across the world a universe of high quality, hand finished, modern and genuine jewellery products at affordable prices, thereby inspiring women to express their individuality.” The collectible charm bracelets have been the cornerstone product attributing to Pandora’s success.

Besides Pandora’s signature charm bracelets, the company’s products also consist of watches, rings, bracelets, necklaces, brooches, earrings and charms. Pandora’s products are positioned as “affordable luxury” because it offers a wide range of products at different price points starting with affordable prices up to expensive/luxurious products.

West Edmonton Mall is the mega mall where the Pandora store in Edmonton is located. Pandora chose to have its store in this center because of the huge trade area brought forth by West Edmonton Mall. I think West Edmonton Mall was a great location to have a Pandora store because this mall brings people in from all over the world which fits precisely with Pandora’s customer base.

The retail format of Pandora stores consist of a classy, luxurious and airy feel. The store’s appearance is very bright, clean and solid white is the primary colour used for the decor. Most of the products are under glass counters or in glass display boxes. The lighting in the Pandora store is very bright and it shines on the Pandora jewellery and watches.

Retail Value proposition of Pandora focuses mainly on elevating the dimension of selection over experience, convenience and price. In terms of selection, Pandora carries only a small variety of products.

Pandora is a specialty store that primarily sells within the categories of jewellery and watches. Pandora also offers a small breadth of selections within these categories. Although Pandora doesn't carry a large variety or breadth, it has a large depth of selection. For example in the charms section of products, there are over six hundred different charms to choose from.

Pandora also demonstrates a strong

commitment to proprietary products.

Proprietary selection offers exclusivity; collectible charm bracelets have a patented threading system that differentiates these bracelets from any others. The charms screw onto the bracelet via the threading system and this system also ensures that the charms stay in the desired section of the bracelet. Only Pandora charms fit perfectly on the Pandora bracelets. This instills loyalty among customers who will continue to return and continue purchasing the exclusive Pandora products. By having this exclusive brand, Pandora is able to charge a premium and gain higher profits from the consumers who desire these products.

On December 28, 2010, Pandora set up 6 stores in Russia and plans on entering other emerging markets around the world. The plan to upgrade and establish new point of sales in existing markets and this expansion into new markets should continue to increase growth for Pandora.

Sites Used:

http://www.pandora.net

http://www.pandoragroup.com

http://www.wem.ca/#/store-directory-maps/jewelry-accessories/pandora