WHILE some young professionals save money to travel or buy the latest gadgets, there are some who save up to buy jewelry, for both fashion and investment.
Candice Yap, a fine jewelry retailer, observed that millennials nowadays have shown high interest in owning jewelry, a sign that the younger market are not just looking for quick money but for long-term investments.
“The value of gold appreciates annually. This is the reason why our grandmothers and mothers invest in them because they know the worth of gold,” said Yap.
This is the reason she opened Jewels by Audrey at the Ayala Malls Central Bloc inside Cebu IT Park, a home to over 160,000 information technology-business process management employees. Yap also opened another branch in Ayala Center Cebu.
She said she wants to capture the young professionals market and lure them into buying fine jewelry pieces.
“They say millennials prefer to invest in experiences. They save up for their travels or gadgets so they could make and capture memories, but jewelry pieces can also give them these,” she said.
According to Yap, jewelry is the best gift for loved ones, and they can also use them to fund their travels or when other occasions arise.
“Owning gold is a good investment diversifier,” she said, noting that one cannot just put all his money in stocks, bonds and other investment vehicles.
Yap, who also owns Oro Italia Fine Jewelry, said it is not due to gold’s lack of shine that the young market doesn’t take a look at it as a viable investment option but their perception of it being a “luxury.” But she said that with the growing number of jewelry businesses in Cebu, consumers now have more options.
“I opened Jewels by Audrey so I could provide affordable, yet quality fine jewelry for the working class,” Yap said, adding that buyers may also take advantage of easy payment schemes and other promotional activities regularly offered by her stores.
Yap manages 13 fine jewelery stores in the Visayas and Mindanao. She started selling jewelry wholesale when she was in college.
Seeing a good market demand, she opened her first store in her home in Zamboanga City in 2006. In 2017, Yap expanded to Cebu. (KOC)