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Jewelry Store Or Internet Diamond Store? The Perfect Formula!
With much being written regarding buying diamonds & jewelry in the stores versus on the net, it is important to understand that there is always going to be a market for the "bricks and mortar" jewelry stores as well as for internet diamond and jewelry stores.
It is certainly true that the age of the Internet offers the educated consumer the ability to purchase high quality diamonds and jewelry at fabulously low and competitive prices, previously unheard of in the local jewelry stores. We blogged on this some time ago. In fact, I actually created a video to specifically discuss the most notable "price discrepancy" between traditional jewelry stores and Internet jewelry stores.
In another blog entry from some time ago, we discussed in general how the Internet has revolutionized the diamond industry.
In reality, the most meaningful "value" factor which the Internet has spawned and cultivated, is that of competition.
The mechanics of competition, is ultimately a boon for both the trade and consumers, since it forces everyone to be at the "top of their game" in terms of the quality of merchandise and value and services provided.
Still, the reality is that many diamond and jewelry shoppers are reluctant to give up the safety and relative security of the local jewelry store experience.....at any "cost".
The Perfect Formula For Success.
Reputable Internet diamond stores who offer actual data and valuable information on every loose diamond they sell in addition to their lowest prices, are absolutely at the top of the pack in terms of the quintissential online consumer shopping experience.
A few Internet diamond dealers make a commitment to personally evaluate each and every loose diamond prior to the sale and to never engage in blind "drop-shipping" of the merchandise they sell.
Similarly, jewelry stores who wish to stay ahead of the curve and compete with the Internet, have done an admirable job of keeping clients and cultivating new ones from amongst the Internet savvy and educated masses.
Some traditional jewelry stores have created an online presence or "catalog", where consumers can browse diamonds and jewelry, as well as sign up for specials and sale promotions.
A few, have even lowered their previously inflated profit margins to better compete with the Internet diamond websites.
They have embraced the Internet and have turned the Internet business model to their advantage by offering the same services, comprehensive information content and price structure, with the added value of the retail "in-store" shopping experience.
These jewelers are no longer "scared" by the net and are very comfortable around the "Internet savvy" diamond and jewelry shoppers.
I just saw a great posting from Stan at Gerson & Horowitz Diamonds entitled "How to BEAT The Internet".
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Comments
Dear Mr.Gutwein,,
I am studying in University of East Anglia, United kingdom, I need help to search for success factors of diamond jewellery shopping online..
the finding of this study is doing by collecting data from consumers,,
therefore, I'd like to ask for a favor of posting a survey link down here.
Questionnaire
"Key success factors influencing on-line Retailing in the Diamond Jewellery Industry"
http://www.my3q.com/home2/167/jewelryonline/81634.phtml
You are invited to participate in this research study of online diamond jewellery shopping. The study will investigate the key success factors by the use of online methods in shopping for diamond jewellery, collecting and indicating consumer perspectives on the diamond jewellery retail business.
All responses will be treated in the strictest confidence, any information provided being used for the sole purpose in carrying out this MSc Business Management project. No information will be passed on to any third party. The questionnaire should take you about ten minutes to complete.
Thank you in advance for your help.
p.s. If you are not allow to post the academic link above, I do understand and dont mind if you delete this comment.However, thank you.
Posted by: Dolly on August 19, 2007 10:27 AM