The impact of COVVID 19 on the coins' parts market.
How was Parts-et-Monnaies impacted by the virus?
We are a 100 % online electronic trade. The impact of the COVVI-19 was very light in our operating mode and even allowed us to further develop our platform. We focused on increasing products on our site during this period. This allowed us to go from 50 references to 1500. I can only thank the Piece-et-monnaies.com team for its investment during this complicated period. Besides, this one proved rather beneficial for our platform.
Is the impact - T - has it positive in terms of sales?
Astonished, yes. Our company is experiencing unprecedented growth. During this period, we found the opening to a new typology of customers, which is not necessarily our historic customers. Indeed, many people have started to buy currencies from an angle of entertainment, especially via our bestsellers: the parts of two euros colored. On the other hand, we have noted a drop in sales of the most classic products such as unique parts and old currencies which are not in precious metal.
Have your deliveries have - have they impacted by substantial delays?
We did everything we could to deliver our customers on time. But unfortunately in some cases, it was not possible. We had to adapt, push our suppliers to respect our delivery times and we did not hesitate to reward our customers with their patience, by offering them an additional coin in their package. This has a financial impact, but customer satisfaction remains our priority.
In terms of recruitment, have you impacted?
Our team and our recruitment policy were not impacted by this unprecedented health crisis of the COVID - 19. On the contrary, as said previously, the involvement of the whole team was at its maximum. Regarding recruitments, we will even increase our workforce by recruiting work -study students following the announcement of Bruno Lemaire concerning financial aid granted to the recruitment of apprentices.
You mentioned previously, the emergence of a new type of collector. Can you bring more precision?
We quickly realized that our typical clientele (a man over 50) was rejuvenating and feminizing. We have thus adapted our projects accordingly, in particular with the colorization of parts of two euros, and the highlights of products such as the room: James Bond 007. We have also decided to launch a brand of numismatic jewelry called P & M Jewels.
Interesting ! What is this brand?
P & M Jewels is our freshly launched jewelry brand launched in production, the commercial launch of which is scheduled for September 2020. These are 100 % made in France. These are mainly bracelets at first, made up of an old coin that is available under 4 versions: ancient finish, silver, gold, and matte black colorization. The pieces are accompanied by a resistant bracelet, whose design is infinitely available (colors, patterns, etc.). We also start to study the development of keychain, earring, wallets and other goodies.
Where can we buy your products in the form of jewelry?
Our jewelry will be available from September on our platform Pieces-et-monnaies.com and also in store with our network of distributors. Obviously, you can meet us in a specialized living room to observe our products as soon as the health situation will allow them to do them, under normal conditions. This is a consumer brand that we are launching. In addition, the market study announces an incredible potential. We also work on a luxury version of our jewelry. We can reveal more in the coming days.