Every consumer is faced with endless diamond details and collection options when purchasing diamond jewelry. In fact, if you shop online, you may see the same diamond at different prices on multiple sites, or a similar image of a ring offered by multiple dealers at different price points. While the Internet has empowered consumers with deep learning, and In Diamond Jewellery Buying guide it has also introduced marketers to the concept of “virtual” inventory. All you need is a website, an image, a database and how you do business. Barriers to entry are very low; The internet is full of jewelry websites to reach over 600,000 online jewelry retailers!
What this means for loose diamonds is that most online retailers sell the same diamonds. Think of it this way: there is a database where all the “wholesale” diamond dealers list their inventory and prices, the online retailer receives that inventory stream and displays it on their website along with a markup. Thus, in order to differentiate a product, retailers have designed the brand to create the illusion that it is different from what the competition is offering, hence the feeling when you see a “Signature Collection” or a “Premium Cut”. Let’s say it’s just a brand and shouldn’t affect the price of any diamond with similar characteristics, 4C is 4C. If you are planning to buy high quality jewelery online, the added value of the service is the main factor to look for.
Mass Marketing And Mass Production
For diamond jewelry, a virtual catalog is created when wholesale jewelry manufacturers create electronic catalogs and then transfer them to their retail partners. The role of the retailer is to market the product as widely as possible; The only difference is the price. I refer to this jewelry as “mass production”, they are usually produced in large quantities overseas and the quality is usually very low. Unfortunately, like any industry, this model is subject to a “bait and switch”. Consumers should be wary of sites with limited product descriptions or unclear information about diamond quality, such as sites that use VS-SI or colorless bands. In mass-produced jewelry, the diamond quality is very low (I2-I3) and the metal alloys used can be questionable. Mass-produced jewelry has a place in fashion, but has no real long-term value. High quality jewelry is not mass produced.
Many branded jewelry manufacturers resist the default inventory model due to price facilitation and sensitivity to “cancellation.” Buyers should be wary of websites that make brand claims that are not normally available on the Internet.
Virtual Inventory On Demand
Another form of virtual inventory that is great for consumers and growing online is CAD design. Here, a real jeweler develops his designs in a CAD design system and shows an idea of how the product will look. Check out the CAD Design Demo to learn more. The consumer can change the design if needed and the diamonds and gemstones are selected to be of the highest quality and the subtlety of this approach results in an exceptional piece of jewellery.
This virtual inventory model is most preferred by high-end jewelry buyers because they get the best of both worlds, the highest quality and service, and the best prices from the jeweler. This is the approach we take at Diamond Design Company.
Like any business model, “virtual” shares also have pros and cons. The advantages are clear. Better prices equal lower profit margins for buyers due to price competition and lower overhead. The downside, of course, is finding reliable dealers, and sorting through the small details in a crowded market can be difficult and sometimes frustrating. You can get rid of companies that do not offer a full range of services and/or are not jewelers but only virtual stock sellers, which are the Exciting facts.
If you are shopping for quality jewelery online, my advice is; When you shop on price alone, you get what you pay for. The best approach is to develop a relationship with a dealer you can trust, who can answer your questions about choosing the right diamond and provide you with the services you need, such as annual inspections, appraisals, shaping or reshaping. Only companies that have goldsmiths can do it well. For more information, learn how to make high-quality jewelry.