【Peru】Pandora Shifts Strategy and Redirects Its Investment – Jewelry and Gem

Editor’s Note

Pandora’s regional leadership reports strong sales momentum in key Latin American markets, with January growth exceeding 20%. The company is optimistic this trend will continue throughout the year, citing growing consumer interest and transaction volume.

Sales Performance and Outlook

Ezequiel Bagnardi, VP of Pandora Mexico, South Cone & Diamonds, stated that the company achieved sales growth exceeding 20% in January and expects to maintain this trend for the rest of the year.

“This gives you an indicator of the interest being awakened in the Peruvian consumer around Pandora. More transactions mean more units sold,” he pointed out.

Regarding key dates, the executive said that Q4 is the strongest quarter of the year, representing about 35% to 40% of annual sales, due to the Christmas and year-end campaigns.

“Following that logic, another important date for us is Mother’s Day, and then comes Valentine’s Day. Those are the dates that commercially set the calendar a bit. Additionally, we also have our own events or dates where we run campaigns, which also drive sales,” he detailed.

Bagnardi noted that the brand expects to end the year with growth between 15% and 20%. To achieve this, he indicated that the strategy would be focused on investing more in marketing and advertising.

Sales Points and Formats

Ezequiel Bagnardi highlighted that they currently have over 40 points of sale nationwide, compared to just three ten years ago.

“We have a mixed business model, where there is a franchise partner with about 12 points of sale in Peru and the rest are ours. We have stores in shopping malls or store-in-store formats; within Saga Falabella we have about 17,” he noted.

“We have the boutique format, with about 17 additional points. We also have eight kiosks distributed in different parts of the country and two online channels. We have a presence in Lima, Arequipa, Trujillo, Chiclayo, Piura, and Cuzco,” he added.

Bagnardi commented that in recent years they have made a significant investment in Peru regarding physical locations to bring the brand closer to the customer. This has been crucial for the firm’s growth because the Peruvian consumer is very accustomed to touching and seeing the jewelry before buying.
In this sense, the expert noted that physical sales channels represent the majority of sales volume, where the purchasing process can last between 15 and 20 minutes.

“Although the online experience has been democratized and grown a lot, we see that 85% of sales occur in physical stores. The remaining 15% is through web channels,” he detailed.

“If we look at more mature e-commerce markets for jewelry, like the United States (which accounts for 32% of Pandora’s revenue), there online business already weighs over 30%. That is the north and what will eventually happen in Peru. That’s where we need to get to,” he added.

Change in Strategy

The executive explained that although some store openings have been considered, these will not demand a significant bulk of the investment in terms of network.

“Peru has a very interesting retail landscape, so the focus is on investing more in marketing. We have plans to make the brand more known and for people to understand our end-to-end proposal,” he stated.

Bagnardi explained that a large part of the strategy involves focusing on influencer marketing and digital marketing.

“We understand it’s a big investment, but it’s also very profitable, with very good returns,” he said.

He commented that influencers, artists, and musicians, as a communication channel, have the characteristic of reaching a larger number of people, transcending ages, cultural boundaries, gender, and religion.
In this line, he highlighted that

“there are several limitations in traditional marketing, so a good influencer marketing or digital marketing strategy can be more transversal and effective for the brand.”

Additionally, Bagnardi noted that they seek to create events and platforms of cultural relevance, which allow them to be more transversal and target different audiences.

Customer Profile and Ticket

Bagnardi indicated that Pandora is a multi-target brand, meaning it sells to girls as young as 15 and women up to 70 years old.

“Our customer spans all socioeconomic ranges, all age ranges, and all genders,” he added.

Furthermore, he stated that their buyers consist of 70% women and 30% men.

“This last figure is growing; men are buying more and more, either as a self-gift or to give to their special person, be it a partner, their mother, or family,” he mentioned.

The executive noted that the average ticket for products is around S/ 599.
Although it is a brand characterized by bracelets and charms, which represent 70% of the business, they also sell other jewelry such as rings, earrings, necklaces, pendants, among others.

“We are not just a charms and bracelets brand; we are a full jewelry brand with all categories. There is an enormous space to grow in those categories that people still don’t know as much about and that we are gradually strengthening so that people dare to buy other products as well,” he said.

Full article: View original |
⏰ Published on: March 11, 2025

Ship-from location