Mejuri | Brand Analysis

MEJURI FMRK 375

Spring 2022

Prepared by

Alexis Unger

TABLE OF CONTENTS EFFECTIVE COMMUNICATION

Fashion Marketing Communication Skills

ETHICAL BEHAVIOR

Incorporating Ethical Perspective Into Professional Decisions

GLOBAL PERSPECTIVE

Exhibit a global Awareness in Professional Decision Making In Fashion Marketing

MARKETING PRINCIPLES

Underlying Principles of Fashion Marketing When Making Business Decisions

BRAND OVERVIEW Merjuri is a direct-to-consumer fine jewelry brand that offers luxury products without the markup of traditional luxury retailers. The company was started and is headquartered in Toronto, Ontario by CEO Noura Sakkijha in 2013. Sakkijha "founded Mejuri because I saw a jewelry industry that was built for men gifting women and not women celebrating themselves." (11) She believes that the true expression of Mejuri is mutual uplift, which is the basis of their brand identity.

PILLAR'S OF MEJURI'S MISSION

Sustainability

Community

Quality

EFFECTIVE COMMUNICATION CONSUMER PROFILE

Mejuri designs for the refined, elegant, and soft yet outspoken Gen Z & Millenial woman.

DEMOGRAPHICS:

Predominately Women 20-35 years old Income: $50k+ Big City / North American Regions

PSYCHOGRAPHICS:

Digitally savvy/connected Values outward appearance Intentional spending habits Values self-care Likely to favor E-commerce Financially savvy Social Justice Warrior/Environmentalist Micro Influencer (1k-100k)

Sources: 5&17

EFFECTIVE COMMUNICATION CONSUMER HABITS TOP CATEGORIES

Fashion and Apparel

News & Media Jewelry & Luxury Products

Banking

Beauty & Cosmetics

TOP TOPICS

Fashion

Clothing

Shopping

News

Shop

OTHER SITES

Analuisa.com Sources: 17

everlane.com aritzia.com

gorjana.com

EFFECTIVE COMMUNICATION DEMOGRAPHICS

40%

30%

75.7%

20%

10%

Female

0%

18-24

25-34

Sources:17

35-44

45-54

55-64

65+

COMMUNICATION TOUCHPOINTS Emails 20%

Social Media 40%

Print Materials 5%

Retail Locations 20% Website 15%

Display (CPC) 4.3% Social 5.5%

Direct 43%

MARKETING CHANNELS

Search (Organic) 44%

Sources:17

Referrals 1.7%

SOCIAL MEDIA Facebook/Instagram: Informational, Seasonal, Product Highlights, Key Product Trends, Partner Highlight, Styling, Campaign Launch, Pop Culture Trends, Reposts, Content Recycling from TikTok, Reels, Flat Lays, Lifestyle Imagery

Youtube: Informational, Seasonal, Product Highlights, Key Product Trends, Partner Highlight, Styling, Campaign Launch, Pop Culture Trends

Pinterest: Traffic outside of the brand, reposts from Instagram & Facebook, Product ads, competitor's ads competing with similar keywords, aesthetic imagery, styling mood boards.

TRAFFIC BY SOURCE

40% 30% 20% 10% 0%

Facebook Youtube

Sources:17

Pinterest Instagram

Reddit

Others

WEBSITE The website is set up like any other luxury e-commerce site, with an easily navigable home page and top menu. when you first enter the site, you're greeted by a pop-up with the CTA of subscribing to their emails for 10% off your first purchase. The banner along the top of the home page slides through a number of CTAs, from new launches to advertising free shipping. Moving down the page, you'll first find a graphic and a push to explore new arrivals. Large thumbnails with categories of jewelry follow immediately below, as well as a gift guide. The gift guide could be seasonal, considering that it is a week away from mother's day as I write this. You'll find style tips, blogs, sustainability information,

and a shoppable Instagram feature just below. The drop-down secondary menu on the top of the page leads you to shop, gift, or explore pages. Each product is photographed in multiple angles, on and off of a model, and under different conditions to show the true qualities of the piece. Reviews online state that they felt like they were in a mirror trying them on because they could picture themselves perfectly. If you can't based on the imagery, you can also try out their virtual shopping feature, a product of the technology boom we're experiencing. Book a complimentary appointment with a stylist to find the perfect pieces for you, without ever leaving home.

Sources:9-12

RETAIL LOCATIONS Mejuri has 9 locations in North America, including the United States and Canada. They entered the world of brick and mortar in 2018 in order to provide their consumers with an amazing customer experience. They made it a priority to make sure the customer experience was flawless and seemlessly transitioned from in person to online. During Covid, their background in e-commerce ensured that they stayed above the waterline. Now that their locations are open, their consumers are looking for a bit of a different experience.

Rather than feeling crowded in the luxury store, a full-time employee guards the door to ensure a steady flow of traffic, and occasionally to prevent theft if we're being honest.

Once you enter, you're able to have a one-on-one chat with your jeweler about what you're looking for, whether or not you have your eye on something specific or not. They walk you through the available pieces and ensure that everything fits. You leave the store feeling catered to like the shopping experience really was about you.

One of Mejuri's strengths is making every email, post, purchase, or conversation about you, one way or another. Their omni-channel approach to commerce is sure to stick around for a while.

Sources:7&20

PRINT MATERIALS Although Mejuri, to my knowledge, does not send mailers to their customers. They do however have a physical touchpoint in other aspects of their product marketing and commerce. They do not typically appear in printed publications, but they do however run ads on a few billboards and other large-scale public locations. The strongest part of this touchpoint is the quality in which their items are delivered.

Although these are not print materials, their packaging is the closest to a physical representation of their products aside from the jewelry itself. Naturally, it has to be of high quality as well. In line with their sustainability efforts, you also have the option to receive your online purchases with less packaging of lower, recycled quality.

When you're buying 14k gold and real diamonds, you expect the packaging to align with it. Their packaging is sleek, minimalist, and includes everything you need.

They provide a small drawstring bag for safekeeping, as well as a cloth to keep your jewelry looking great.

EMAIL CAMPAIGNS

30

0%

Character

Promotional

3.86 Emails/week

subject lines

8 Journeys

2,626 Emails

Welcome Email

New Drop

Cart Abandonment

Items in Stock

Purchaser

Campaign Launch

Drop Waitlist

Product Feature

Personal Note: I purchased my first Mejuri pieces in January of 2022. Since the day I entered their email funnel, I have received an email every 1-3 days. Did I open all of these emails? No, who checks their emails like that anymore. When I did choose to open an email because something caught my eye, did I browse the store? Yes. Have a made a purchase since January? No, but I am a college student who does not need to be buying 14k gold. Will I be a repeat customer of Mejuri's for life? Yes. I've been nothing but pleased with my purchases, so much so that I gifted my mother her first real 14k gold piece as well. Whatever Mejuri is doing, it's working for them & for me.

Sources: 2

ETHICAL BEHAVIOR +VALUES SUSTAINABILITY

Mejuri wants its customers to feel as good as they look while wearing their jewelry. They work hard to consider the impact of their sourcing and production so that consumers can enjoy their purchases and know they're supporting an ethical brand.

They believe that "traceability is everything" in order to create truly sustainable fine jewelry.

Sources:10

ETHICAL BEHAVIOR +VALUES BEHIND THE FINE

Sources:9

It would be unethical for Mejuri to pose as a luxury product if its products did not stand up to the test of quality and durability. Mejuri's production process produces quality inventory in quality working conditions. They trace their items from mine to market in order to keep a close eye on their supply chain. 60% of their suppliers are certified by the Responsible Jewelry Council. The remaining 40% are familyoperated businesses. All partners are required to follow the Code of Conduct put in place by Mejuri to maintain the values they intend to uphold. They have additional information on each region of production for those who are curious to learn more.

ETHICAL BEHAVIOR +VALUES DIVERSITY, EQUITY & INCLUSION Mejuri's journey is full of meaningful stories that create an authentic sense of community. They understand that their consumers are what brings Mejuri to life. On top of being inclusive of all gender IDs, religions, preferences, and ethnicities online, they do their part to give back.

The Empowerment Fund was established in June of 2020, just after the start of the pandemic. This fund supports women with the tools they need to empower themselves. Women give back to everyone around them to promote a number of things like fairness and equality. Mejuri wants to provide the next generation with the opportunity to take on more leadership roles. 37 women and nonbinary people have received scholarships from this fund, totaling $188,000 USD that was donated to charity partners since 2020. CEO Noura believes that "arming someone with education gives them optionality in the future to take control of their lives... it isn't selfish to take care of yourself and invest in your future." They have donated an additional $190k+ to current and past initiatives supporting Black Business and Professional Association Scholarships, the United Negro College Fund, and the Jeannette Rankin Women's Scholarship.

Sources:12

ETHICAL BEHAVIOR +VALUES DIVERSITY, EQUITY & INCLUSION

Sources:16

GLOBAL PERSPECTIVE OVERVIEW Mejuri keeps their eyes open to the world around them. Not only do they adapt to consumer shopping habits and the latest trends, but they are socially and politically aware. As a company with such a strong story, rooted in creating change, they keep their ear to the ground.

Although their values are rooted in social and environmental change, they are not particularly vocal about global news. Although they might support certain causes, it isn't on-brand for them to be explicit about their standing online.

GLOBAL PERSPECTIVE SUGGESTIONS Although Mejuri is "global", I think they have room to expand in this area. From addressing social injustice in other countries to having showrooms in other parts of the world, I think they would do well to expand their reach further out of North America. Although their strongest consumer base is here, there could be another just as strong waiting in another country with similar needs and buying power. This would be a large step for a DTC company that was birthed and stayed online for years, before moving into permanent stores in 2019.

Sources:17&20

MARKETING PRINCIPLES SEGMENTATION

Online/

Affordable

Young

Digital

Luxury

Trendy

Consumer

Consumers

Women

Online/ Digital Consumer: Looking for thoughtful UX design, prefers e-commerce over brick and mortar but enjoys in-person experiences, exposed to brands through influencers on social media platforms.

Affordable Luxury Consumer: Not of the tax bracket to splurge but looking for high-quality capsule pieces.

Young Trendy Women: Women who follow the trends of the time but also enjoy pursuing their own personal style. Frequently looking for the next hot item as well as the next addition to their personal capsule collection of clothing and accessories.

Sources:17-19

MARKETING PRINCIPLES TARGET MARKETING Online Presence

Although all brands in 2022 know the importance of their online presence, Mejuri has mastered the art of influencer marketing for quite some time with the "Fine Crew".

Most of their exposure is generated through social media, specifically, Instagram. They create shareable content and products with partners that easily catch the attention of their target audience.

Made For Women By Women

Mejuri was started by a woman who was and is passionate about changing the narrative behind luxury jewelry. Mejuri upholds the idea that we no longer have to wait for a man to come to gift us a diamond necklace - we can buy it for ourselves. And, we don't have anyone to hold the price over our heads.

Affordable Luxury Products

Mejuri is one of few brands that truly offer luxury, high-quality products at an affordable price point. They appeal to two customers: those who want extremely affordable gold vermeil pieces, and those who want real stones and 14k solid gold. Both options are available in the same styles at Mejuri.

Untraditional Collections

Not only is Mejuri untraditional in its minimalist designs, but the way they release new items is unique to luxury brands. Rather than releasing a collection every season with one particular story, they release a few items every week.

This extends the lifespan of every consumer as they always have a reason to come back for more.

MARKETING PRINCIPLES POSITIONING MAP Prestige Price

Mass Market

Exclusivity

Affordability

Sources:18 + Google Search Results

MARKETING PRINCIPLES POSITIONING Mejuri is able to set itself apart from other brands in the affordable luxury jewelry industry for a number of reasons. As its audience is terminally online, Mejuri meets its consumers where they are by relying heavily on influencer marketing and partnerships to reach new consumers. Once these consumers are exposed to the brand, Mejuri keeps them hooked by "dropping" new pieces every Monday. By straying away from traditional collection drops, Mejuri can better hold the attention of its audience. Mejuri further establishes its relationship with its audience by telling its story of women empowerment and self-love, which resonates deeply with the young female millennial and Gen Z consumer. Mejuri's audience can 100% back the brand and its initiatives, leading to their repeat consumers making up 40% of their total revenue. Mejuri is honest and transparent, sharing its mission to create affordable luxury in the most ethical way possible, from sourcing sustainable raw materials, their production practices, and avoiding the high markup of other retailers who are taking advantage of the luxury jewelry market.

Sources:19-20

MARKETING PRINCIPLES SWOT ANALYSIS Affordable price point Backed by a team of influencers and loyal brand partners On trend with the younger markets who have a strong spending power Extremely transparent & sustainable Woman-owned/designed Clear Brand Identity & Ethos Fully developed e-commerce and brick and mortar presence Aspirational Allure

Expand into new emerging luxury markets globally Revamp their in-person events for the few locations they do have Expand into a younger generation of consumers through TikTok influencers

Easily replicable business model Competitors close on their heels Lack of global presence (physically) Skepticism surrounding the quality and durability of products due to affordability Bad press around fragile products breaking, misconstrued as "cheap" Competitors like Stone and Strand and Ana Luisa Trademarking issues in a case by case scenario Heavier reliance on paid advertising vs organic

Sources:All

MARKETING PRINCIPLES STORYTELLING Storytelling is more important than ever from a marketing perspective. The value is shifting from a brand wanting to tell its story to consumers needing to hear this story. Without a story, otherwise known as the brand's essence and mission statement, there is no brand. The majority of consumers are purchasing with more intent than ever - and they're truly paying attention. It's on the brands to tell their story in the most authentic way possible to resonate with this new consumer mindset. Not only does this story need to be strong, but it needs to be conveyed on through all of your touch points. If your mission is clearly stated on your website but is not reflected in your Instagram captions or the TikTok trends you participate in, it might as well be non-existent. Mejuri does a great job of storytelling by continuing to share the message that the brand was created with & have this trickle down through their Fine Crew influencer partnerships. Not only are they great at telling their story, but their audience wants to be apart of it in their own way by starting their own Mejuri collection, one piece at a time.

MARKETING PRINCIPLES DRIVERS OF CHANGE "The consumers of today are not the consumers of yesterday and they are not the consumers of tomorrow.

In a world where the only constant is constant change, being able to balance the needs of today with the demands of tomorrow is a careful balancing act that anyone who cares about the future survival of their brand must juggle."

- Carla Buzasi of WGSN

Consumers and their purchasing habits are extremely intricate, as they are influenced by an innumerable amount of sources. A lot of these decisions are first influenced by our feelings and beliefs, which influence the way we navigate the world around us. Merjuri's audiences are not immune to the effects on consumers as a whole. There are four key consumer sentiments that will inevitably trickle down into our purchasing habits, even for something as seemingly disconnected from social, environmental, and political matters as jewelry.

Sources:23

MARKETING PRINCIPLES DRIVERS OF CHANGE Future Shock

Sources:23

Decisions are no longer taken without a grain of salt. The everyday consumer has shifted from being carefree to being over cautious about their every step, out of fear of what is coming next because "there is always a next." Future shock is "the emotional and social paralysis induced by shattering stress and disorientation." Sound familiar? Although this concept is not new, the pandemic of 2020 brought it to light in ways the generations of today hadn't seen before. Two effects on the human psyche as a result of the pandemic are the inability to multitask and the compression of time. While multitasking is relatively impossible anyways, it's getting harder to convince yourself that you're multitasking with all of the social justice issues and political warfare floating around in our thoughts all day. Time seems to fly by, yet we can recall less and less of how we spent our time over the last few years. As our world rapidly becomes equally as digital as it is physical, it can be even harder to maintain a grasp on time. This can lead to things like dissociation, anxiety and addictive behavior.

What you can do as a brand: Remind people of the here and now. Make them feel secure in the moments that they choose to spend interacting with you. Keep up with the digital age, but do not let your customer experience be swallowed by it. First and foremost we are physical human beings of the physical world. Reach your consumers in reality with honesty, transparency, and security.

Overstimulation The amount of content we have access to in 2022 is exponentially higher than anything you could have imagined at the start of the internet boom, or even into the early 2000s. Both our physical and digital stimulants went through a "sensory revolution" as a result of the pandemic that forced us to slow down. The isolation, absence of touch, and undesirable living conditions that many faced for over a year undoubtedly changed their interaction with the world around them. Our over-exposure to endless digital content has significantly decreased our attention span as a society, according to a study that took place a year before the pandemic even entered our news headlines. While shortform videos are here to stay, they could be damaging in the long run. On the other hand, sensory overload is being combatted by sensory regulation in order to prevent triggers that overwhelm our brain. Therapists recommend having parts of your day involve less technology and more real-world activities, like going on a walk or reading a book.

What you can do as a brand: Understand and empathize with your consumers who are feeling the effects of overstimulation. Do your part to communicate the message of taking a step back from the digital world, despite how much you love being able to connect with them through it. Everything good in the world is balanced, so your brand should be too.

MARKETING PRINCIPLES DRIVERS OF CHANGE Tragic Optimism Tragic optimism is in a way the opposite of toxic positivity, or being overly animated and supportive of things. Tragic optimism is instead a more realistic view of the world around us, as we search for meaning in a time of distress and confusion. This is not a result of facing hardship, but rather how someone processes the trauma. This kind of growth is observed in people who realize they can no longer return to the view they once had, and try to adapt to their newfound awareness.

What you can do as a brand: As stress and anxiety are at an all-time high, consumers are on the lookout for ways to decrease this stress. From a private retreat away from the city or a calming tea, products and services that meet this consumer's need are sure to succeed. While not every product might be able to directly meet this need, it's important to think about how your brand compliments others. As people begin to plan getaways, change your verbiage to include the message of dressing and feeling your best for a well-earned vacation. You're not selling the plane tickets, but you're selling the feeling that aligns with the motivation behind the purchase of them.

Awe Awe is defined as "the wonder we feel when we encounter something powerful that we can't easily explain." This mix of both fear and wonder has been lacking in recent years, as we looked for moments of stability and basic survival. This lack of inspiration has created a lasting effect on the morale of consumers. Awe can be used as the antidote to anxiety and connector of time and reality.

When we experience moments of awe, whether online or in person, the part of our brain that makes us hyper fixated on ourselves and our current state of being slows in activity. This creates a sense of connection to something outside of ourselves, as well as a reduction in brain fog. Experiencing this awe heightens our ability to focus on the here and now.

What you can do as a brand: Creates moments of Awe for your consumers, whether they be big or small. Allow your consumer to come outside of themselves for just a moment or two, by creating something beautiful or centered in community. Create moments for people to check in with reality and refocus on the present world around them.

Sources:23

MARKETING PRINCIPLES MARKETING INTELLIGENCE In Billions USD $

250

150 100 50 0

20 13 20 14 20 1 20 5 16 20 17 20 18 20 19 20 20 20 21 20 2 20 2 23 20 24 20 25 20 26

Sources:1

200

Watches & Jewelry Market Value

Sources:22

ORB RINGS

ALL THAT GLITTERS

PEARL CORE

1.3K Searches/Week

Searches up 14%

Searches up 14%

MARKETING PRINCIPLES MARKETING INTELLIGENCE

"SUSTAINABLE JEWELRY" Over the last 5 years

"AFFORDABLE LUXURY" Over the last 5 years

Sources:8

FINAL THOUGHTS Mejuri is an example of a brand that knows who they are and that does it well. Although Mejuri has room to grow, they have stabilized its place in the market, which gives them the security to expand beyond its current reach. They do, say, and are all the right things for their audience. They've created a community on top of a business. From branding to marketing to their online identity, I look to Mejuri as someone who makes luxury accessible and therefore continues to reshape the meaning of the word "luxury".