The future of trade shows is phygital – an interview with Muriel Piaser

Since the start of the COVID-19 crisis, the event industry has come to a standstill: cancellations and postponements have added to the uncertainty over a possible return to normal activity. For businesses, digital technologies have made it possible to offset the decline in physical retail: online sales have been on the rise since the first lockdown. However, turning a physical event into a digital event is no easy task… event stakeholders are prompted to act fast and think creatively to offer suitable solutions.

This is the case for Muriel Piaser, creative consultant and founder of the avant-garde trade show “PRECIOUS ROOM by Muriel Piaser”. Since January 2019, Muriel has been presenting high fashion and avant-garde jewelry collections from French and foreign brands to French and international buyers at this B2B event. After three physical editions organized at the prestigious Palais Vivienne during Fashion Week, a digital edition was launched in September 2020 in response to the current context.

We have interviewed this dynamic expert to learn more about her project, as well as her outlook on the impact of COVID-19 on the jewelry industry and the future of trade shows.

An innovative digital platform

Hello Muriel, you are the founder of “PRECIOUS ROOM by Muriel Piaser” and you’ve recently launched a digital platform. Can you tell us more about the concept?

When the COVID-19 crisis began, I had to cancel the physical event that was scheduled for July 2020. After a thorough market analysis, I realized that the situation wasn’t going to get better anytime soon, and that I would have to move fast to come up with a commercial solution. I was looking for a way to transform this physical edition into a digital edition. In May 2020, I finally turned to a virtual showroom that I had known for several years and that was considered a reference in the B2B world. Together we created an online mini trade show, in which each registered brand has its own online showroom and marketplace aimed at buyers. My goal was to not only help brands and buyers connect, but also enable buyers to place orders. The digital edition takes place all year round and the platform can be accessed from both the “PRECIOUS ROOM by Muriel Piaser” website and its dedicated page on Le New Black’s website.

Alongside the platform, I offer my brands full professional guidance, using my experience as a consultant to strengthen their brand image. In particular, I use my social media platforms to promote them. My work therefore targets both business and marketing.

How do you select the brands you present on your platform?

My core market is dainty high fashion jewelry. My selection is primarily based on my personal taste, my style and my experience as a trade show manager. It represents me. It’s often linked to emotion and it’s always fashionable, with a touch of glam and rock’n’roll. My goal is to promote the democratization of jewelry in the fashion industry, so it can be found in trendy concept stores or department stores for example. Jewelry is now an integral part of that industry; it is essential for buyers since it provides added value in terms of personalization.

My selection is a blend of established brands and young talents. I love revealing new talents. My approach has always been one of anticipation and research, I’ve always been on the lookout for novelty, for the brands that will shape the future of fashion. In 2006 I created The Box, a trade show dedicated to jewelry and fashion accessories which served as a springboard for several (now well-known) high fashion jewelry brands such as Jacquie Aiche, Pascale Monvoisin, Céline Daoust, 5 Octobre or Ginette NY. Before creating “PRECIOUS ROOM by Muriel Piaser”, I noticed that the new avant-garde jewelry designer scene was isolated from other brands and struggling to find its audience. My trade show has become a strategic place for them to promote themselves and get noticed.

I choose the brands carefully. All of them share the values of slow jewelry, such as the ethical production and sourcing of materials or traceability, which is greatly appreciated today. Promoting new local artisans is very important to me.

What are the advantages and disadvantages of this digital platform? Which strategies have you adopted to overcome those issues?

This platform allows me to maintain the link between brands and buyers without anyone having to travel. It is also a way for brands to get noticed while being hosted by an embodied entity. Having a consistent and recognizable identity, using storytelling, is extremely important.

The disadvantages are of course the lack of human contact and the inability to feel the product. However, image enhancement and modern digital technologies make it possible to overcome this. For example, the use of 3D and photo styling techniques can help us get a sense of the quality of the product.

Towards a “phygital” future

What is the future of trade shows? Do you think digital and physical are complementary?

Digital innovation is driving businesses to be dynamic and proactive. This is not easy and it varies across cultures. For example, Asia, the USA and the Middle East are fast followers of digital technology, while France – or more generally Europe – still follows the pattern of traditional retail and physical showrooms.

The COVID-19 crisis has forced businesses to reinvent themselves. For a long time, many of them were reluctant to go digital, but now they have no other choice. Even though we all want to return to physical events, and we will, digital transformation will remain. They both complement each other – we call this “phygital”.

As a consultant, what is your outlook on the evolution of the jewelry industry and the impact of COVID-19 on it?

The crisis has forced us to rethink the way we design collections, the way we produce and the way we buy. Today we no longer follow the consumption pattern based on buying periods. Fashion used to follow Fashion Weeks, and because jewelry was built into these buying periods it also followed this traditional cycle. Brands no longer conform to this fast-paced seasonal rhythm based on two collections per year, Spring-Summer and Fall-Winter. Instead, they tend to introduce limited editions throughout the year. Purchases are made all year round, with more special times like the holidays, Valentine’s Day, weddings, etc.

Businesses have also revised the way they produce. We used to talk about “see now, buy now”, now we refer to “see now, produce now”: production is induced by an order. Slow jewelry is associated with ethics that are highly valued today.

Sales strategies and the way people buy are also different: online purchases have almost doubled in one year. Obviously, physical retail was strongly affected by the crisis, while jewelry businesses with an e-shop were able to get closer to their end consumers, be quicker to respond and therefore sell better.

We need to combine the physical and digital worlds. Retail exists and will always exist. Consumers need to physically go shopping, because they need customer experience, they need to be able to feel and try on the products… But retail will rethink the way people shop and place orders. Digital technology allows us to forecast and anticipate purchases.

What are your plans for the next editions of “PRECIOUS ROOM by Muriel Piaser”?

My wish is obviously to bring back this physical event, which should take place in January 2022 if everything goes to plan. I strongly value human experience and emotion. But of course I will keep the digital edition so I can offer my brands complete support all year round. In the end, this context allowed me to speed up my process and establish a business model that is consistent with the crisis as well as brands’ expectations.

I would also like to move towards B2C in the near future, in particular through the pop-up store I was offered by some department stores and concept stores, or through my partnership with Milano Jewelry Week. I want “PRECIOUS RROM by Muriel Piaser” to become a brand that can travel and carry its own identity, as well as a talent incubator and revealer.