| Diamond shoppers today have more choices than | | | | they want based on the specifications in the list. |
| ever on where to buy their diamond engagement | | | | The shopper pays for the diamond in advance |
| ring, diamond earrings and other diamond jewelry | | | | and then the wholesaler or the retailer ships the |
| items. However, with greater selections come | | | | diamond to the consumer. |
| bigger potential risks and rewards. You need to do | | | | The online jewelry retailers offer the advantage |
| your homework and understand how to select | | | | of much greater selection than you can find in a |
| the best company for your diamond purchase. | | | | jewelry store and the ability to ship the items all |
| The retail diamond market is comprised of three | | | | over the country, which provides greater options |
| broad categories of diamond sources; jewelry | | | | for shoppers in small towns and rural areas. Due |
| stores, ecommerce diamond companies and | | | | to low overhead costs, online jewelers can |
| diamond brokers. | | | | provide lower prices than most jewelry stores. |
| Jewelry Stores | | | | The disadvantage of the online jeweler is that |
| Until recent years, jewelry stores were the only | | | | there are few safeguards in place to keep the |
| option for most diamond shoppers. This was | | | | consumer from making a mistake. Picking the |
| especially true for smaller towns and rural areas. | | | | least expensive diamond from a list of options |
| These stores had a monopoly, much like Ma Bell | | | | often means there is something less desirable |
| with the phone systems during most of the 20th | | | | about the diamond. Without an expert adviser to |
| century. Jewelry stores were the only game in | | | | help, the consumer is mostly on their own to |
| town and could set their prices at whatever | | | | make their selection. |
| markup they wanted. | | | | Diamond Brokers |
| Jewelry stores depend on impulse buying so they | | | | There is a third type of diamond retailer, the |
| focus on having a selection to pick from, name | | | | diamond broker, that differs from the jewelry |
| recognition through extensive advertising, and | | | | store or e-commerce retailer. Like most |
| being convenient so shoppers can walk in and | | | | e-commerce retailers, brokers do not own |
| make a purchase with no education or knowledge | | | | inventory and have low overhead, but they differ |
| of the product. If it looks nice to an impulse | | | | in that they work as diamond consultants for the |
| buyer, they will pull out the credit card and have it | | | | shopper to find the best diamonds meeting the |
| gift-wrapped. To attract the impulse buyer, | | | | consumer's requirements. |
| jewelers built elaborate stores with polished | | | | To attract new clients, diamond brokers rely on |
| marble floors, expensive display cases, and lighting | | | | word of mouth advertising. They typically have a |
| that makes everything in the store sparkle. | | | | website focused on online education and shopping |
| To pay for the stores, the decorations and all the | | | | advice instead of a list of inventory and the online |
| expensive advertising, jewelry stores must | | | | shopping cart. Diamond brokers work with their |
| maintain high markups on the items they sell. The | | | | client to find the best diamond on the wholesale |
| more expensive stores have bigger inventory, | | | | market and present it to the client in the broker's |
| higher rent and more advertising, which dictates | | | | office or ship the diamond to the client to |
| the higher markup necessary to pay for all that | | | | examine before they purchase. The result of the |
| overhead. | | | | lower overhead and personal consultant service is |
| E-Commerce Diamond Retailers | | | | that clients usually get a better diamond at a |
| The online shopping cart of hundreds of jewelry | | | | lower price than with jewelry stores or online |
| retailers has been one of the big growth areas | | | | retailers. |
| for e-commerce. Shoppers can shop from the | | | | To determine which company is going to be the |
| convenience of their home or work computer, | | | | best supplier for your diamonds, know what |
| look at the pictures of thousands of jewelry | | | | retailer characteristics are most important to you |
| items online and place their order without ever | | | | then ask many questions. Be sure the company |
| talking to a human. E-commerce diamond retailers | | | | you select is going to be able to provide the |
| provide a list of diamonds owned by groups of | | | | personalized service, expert advice, high quality |
| wholesalers and let the shopper pick the diamond | | | | diamonds and low prices you deserve. |