This article won’t come as a surprise to a majority of our readers. E-Commerce is on in a big way, and in every single field, online portals have taken thousands of customers away from real world stores. One of the most recent fields to gain popularity in online retailing is jewelry.
How popular this industry has actually become is evident when you search for a term like ‘Signature Diamonds’. You will see hundreds of thousands of search results, and the top sites that come up in search actually report sales of millions of dollars!There are a few major reasons why online jewelers are gaining so much popularity – much to the discomfort of your local jewelry stores. Here are the top reasons from that list.
The first and foremost reason anyone would go online to buy anything is the price factor. We said first and not the only reason. From flight tickets to shoes, from computers to loose diamonds, everything is available at a discount online, and that is so obvious! When your local jeweler runs his business, he has to pay his rent, take care of staff costs, overheads, local taxes and many more. However, online all those expenses don’t happen, and the most one has to pay for is to maintain the website and take care of the hosting and other related expenses. When you convert that into dollars, you’ll see a huge savings. Another big advantage that an online portal has in terms of costs is the ability to not have a huge inventory. Since we are talking about jewelry, you’ll be surprised to note that a lot of large and very popular portals don’t even have their own warehouses. They operate through the warehouses of other diamond sellers and hence there is not even a stocking fee that they have to go in for. There is one exception however – www.diamondsonweb.com has one of the largest warehouses and one of the largest inventories of loose diamonds in the industry, but then they have been diamond wholesalers to your local jewelers for over 25 years now. So that becomes an advantage instead of a liability, and the price comes down further!
Most of the portals involved in selling products, of whatever kind, ensure that they pass on the savings to the customer, and hence manage to keep the costs way down.
This is the surprise package. Usually, your local stores and malls should have more stock in the inventory when compared to a website. However, when it comes to diamonds and jewelry, it is the other way round. Since maintaining a huge inventory of these products costs millions of dollars, most of the jewelry stores we know of only stock the ones in fashion, and keep changing them around when the season changes. That is evident in the fact that the store staff try to sell you what they have on display rather than trying to find out what exactly you want.
Online, it is totally the other way round. Since you need to filter out the diamonds and jewelry based on your interest, the store needs to ensure that they have the complete range in stock. That is why sites like diamonds on web are so popular even with small jewelers, who stock up from them and buy in turn to their customers. Irrespective of the season, the entire range of loose diamonds is usually available online and that is a big attraction for customers to shift online.
This is the third (and one of the most popular) reasons why people shift online to buy their diamonds. With on season and off season jewelry going in and out of fashion, the offers that one finds on a popular diamond retailing site cannot be matched by even the largest jewelry store out there. Where else can you find a matching set of earrings, bracelet, and pendant for under $200 – studded with brilliant cut diamonds! You just need to spend a little time online and you will strike brilliant deals!
So, like we mentioned up front, online jewelers are already customers ‘pride and jewelry stores bane, and the trend is likely to get stronger with time! The next time you are out shopping for jewelry, go online first!