Why Do Good Jewellery Stores Love Informed Customers?
Jewellers have benefited from being the de facto "keepers" of information regarding diamonds and diamond jewellery for generations. They worked behind the counters selling jewellery and provided customers with helpful morsels of information. The jeweller seemed condescending as if the customer should be thankful for the opportunity to browse the store and handle the priceless jewellery on display.
Traditional Jewellers Had An Easy and Profitable Life!
This information monopoly coincided with a supply monopoly. You could only buy a diamond or other costly gemstone from a jewellery store. Markups of 100-200% above cost were used to inflate the pricing artificially. Differentiating features of retailers were extravagant storefronts, brightly lit display cases, and lavish decorations.
For the jeweller, life was straightforward and lucrative. The customer walked in, the jeweller suggested this piece, and the customer bought it since they felt they had no choice. With the exception of Ratners, who became famous for selling jewellery so cheaply because it was, as the CEO claimed, “total crap”, can you remember any struggling jewellers from the years leading up to the turn of the millennium?
By the early years of this century, the jewellery business was being revolutionised by the three-letter term that every jeweller came to dread hearing. Obviously, we are referring to the World Wide Web or the Internet. Diamonds and jewellery suppliers who delivered right to your door appeared out of nowhere, often undercutting the expensive overhead of high street jewellery stores. The biggest worry, though, was that any buyer who put in a little time investigating online would discover the trade secrets pertaining to diamonds and other precious jewels.
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Vintage jewellery is the perfect way to add that special touch to your outfit. This stunning necklace has been handcrafted in solid 18ct White Gold and set with 2.60ct of Blue Sapphire. The beautiful colour of the Blue Sapphire is… read more
No More “You Get What You’re Given And Like It!”
In the past, a high street jeweller would simply display his wares and ask the customer to choose one. Then came the informed consumer armed with YouTube videos of diamond jewellery buying guidance. Instead of just asking for a one-carat diamond, the consumer now has a long list of specifications that all but guarantees that nothing in the store will fit their requirements, regardless of the price.
Knowledgeable Consumers Are Hard Work For Lazy Jewellers!
These days diamond jewellery shoppers might say, “This is what I want, and I expect to get the best price in the country.” Then they give their list of specifications for the jewellery they have in mind:
1) Carat weight exactly 1.28 because our first date was January 28th
2) At least G colour
3) VS2 clarity, the diamond must have no visible imperfections.
4) Must have a GIA grading report issued with an Excellent cut grade
5) No fluorescence
6) At least Very Good for polish and symmetry
7) Girdle has to be Medium (nothing more or less will do)
8) GIA certification number etched into the diamond by laser
9) Ability to take to a third-party appraiser that accepts the grading report
10) I need it in five days or less!
As a closing remark, they mention that they are comparing prices with ten other sellers who meet their criteria.
OK, to be fair, even knowledgeable buyers are not usually so specific. Still, a typical high street jeweller's sales assistant will cough and splutter at even three or four of these points!
The Nightmare Came True!
This new behaviour is in direct opposition to the conventional approaches taken by old-style jewellers, making it the jeweller's worst nightmare. The majority of the customers who shop at their jewellery store are impulse buyers. These customers will walk in, notice something pretty, and make a purchase after hearing a few words of encouragement from the sales assistant. It's possible that they are looking for an expensive engagement ring, but the customer has no idea about diamonds or precious metals; customers like this are always an easy target for extra, easy profit.
Even in this day and age, there are still many jewellers who do not want to put in the extra effort required to make a sale, which includes spending hours searching for the piece of jewellery that the customer desires, as well as paying for shipping, insurance, and getting the item shipped the next business day. Instead, they complain and yearn for a more straightforward era, when the GPO was in charge of the telephones, petrol cost one pound a gallon, and the diamond industry kept its business practices a closely guarded secret.
The New Generation Of Diamond Jewellery Retailers
Fortunately, for diamond jewellery buyers, there is a new generation of jewellery retailers, such as All Diamond, who encourage diamond education and work with shoppers who know exactly what they want. These new diamond jewellery retailers know where to look for jewellery that fits the buyer's specifications and have access to the wholesale market. Or, in the case of All Diamond, have a good knowledge of the industry and work with a network of designers, craftsmen, and other suppliers.
Because they have significantly less overhead than a traditional jewellery retailer, tuned-in online diamond jewellery retailers are able to find excellent gems and jewellery at extremely reasonable prices. This is the best part for all jewellery buyers, no matter how much they know about diamonds and jewellery.
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Signet rings are a great way to show off your style. This signet ring is a fine example of modern jewellery design. The row of diamonds is in a 9k yellow gold setting. The gold has a UK hallmark, and… read more
A New World Of Diamond Jewellery – We Go Further For You!
To be absolutely clear, we enjoy working with knowledgeable clients; they keep us on our toes! At the same time, we work very hard to ensure that even people who know little about what they are buying are well looked after. The increase in the amount of knowledge among today's jewellery buyers has made it necessary for all jewellers to up their game and, on the whole, even high street retailers are far from how they were just a couple of decades ago - but when you go shopping, you will probably still encounter places where the old rules still seem to apply. But today, you have a choice!
The ever-evolving nature of the market ensures that suppliers of desired goods and services will always be found. The modern diamond jewellery shopper is well-informed and picky, and this clientele is ideally suited for online retailers like All Diamond. You can learn more about diamonds and precious metals by checking out this site’s education section and the informative articles on our blog.
But we go further! It isn’t all about the cost; you need to be sure that what you buy is exactly right for you. To make sure of that, we offer a 30-day return and exchange program so you can inspect the jewellery you buy in your home. If it is not quite right, return or exchange it.
We back up the craftsmanship of our artisans with a lifetime workmanship guarantee. When you are browsing our jewellery collections, if you have any questions, you can use our online chat service to ask us questions, and we will advise and help you to make the right choice for your needs.
All that you need to do is take a leisurely look through our collections of rings, bracelets, bangles, earrings, and necklaces. There are no high-pressure sales practices. Our store never closes, and we are confident that our UK-designed and handcrafted fine jewellery will inspire and excite you!
