Jewelry brands are setting sail for new opportunities, leaving the traditional high street behind for the open seas. While airport duty-free zones have long been lucrative, the cruise industry is now proving to be a treasure trove for these luxury brands.
Cruise ships offer a captive audience of holidaymakers with cash to spare, making jewelry concessions aboard these vessels highly desirable. According to the Cruise Lines International Association (CLIA), the number of passengers reached 31.7 million in 2023, marking a 7% increase from 2019. The demand for cruise holidays remains strong, with an 82% “intent to cruise” rate, and a projected 10% increase in cruise capacity from 2024 to 2028.
This resurgence in cruise tourism has led to a surge in retail sales, particularly in the jewelry and watch category. Retail curators like Starboard are leading the charge, guiding luxury brands such as Bulgari, Cartier, Omega, and Hublot to launch boutiques on cruise ships.
These launches, often the first of their kind at sea, have garnered significant guest interest and financial success. Starboard, with over six decades of experience, has facilitated retail experiences on more than 90 ships across 14 cruise line partners. Recently, it unveiled the largest TAG Heuer boutique at sea aboard Carnival Jubilee, which has quickly become the brand’s top-performing retail door in travel.
According to Caryl Capeci, SVP for fine jewelry and watches, “Cruise tourism has made a significant post-Covid return, achieving record economic contributions and surpassing historical levels. With a captive audience embarking on seven-day voyages, cruise ships offer an ideal setting for high-value purchases.”
The immersive nature of cruise itineraries allows guests ample time to engage with brands, facilitated by Starboard’s trained sales specialists. Through unique retail experiences such as ‘watch and scotch’ tastings and interactive trivia games, brands can connect with guests on a deeper level, fostering brand loyalty and driving sales.
Both established brands and newcomers recognize the growth potential of cruise retail. Monica Rich Kosann, founder of her eponymous brand, emphasizes the importance of creating memorable moments for guests, making fine jewelry a cherished part of their vacation experience.
Starboard introduces forward-thinking initiatives, such as personalization and customization services, to enhance the guest experience. Brands like Norqain and Monica Rich Kosann offer unique touches to their products, adding to their allure.
Underlying these retail offerings is Starboard’s commitment to professional development, ensuring its onboard retail staff are knowledgeable and skilled in delivering a premium shopping experience. With cruise travel on the rise, retailing at sea presents an enticing opportunity for brands to expand their presence and engage with a captive audience.