The Future Of Online Trading
Online Diamonds & Gemstone trading platforms source the products directly from the source where they are cut & polished into faceted stones. In regards to Diamonds, they are sent to the most established and well reputable gem testing laboratory in the world know as GIA (Gemological Institute Of America). The Gemological Institute of America is a nonprofit institute dedicated to research and education in the field of gemology and the jewelry arts and based in Carlsbad, California. The Diamonds sent to this lab are then graded and a certification report is issued. The grading report is extremely accurate and without consumers seeing the diamond they can get an idea about the stone just by looking at the PDF report. The report number is laser in-scripted on all the diamonds. It is in-scripted on the Girdle part of the diamond (on the side). After purchasing a diamond the consumer can check himself this laser in-scripted report number by a gemological loupe or ask an expert to check it. This gives peace of mind to the consumers that they have bought an actual natural diamond.
Diamonds & gemstones you buy online are cheaper than retail Jewellers. This is the initial & most important point why consumers get so much attracted to online platforms such as BlueNile, B2C Jewels, Rare Carat (Multiple platforms), Ceylonbluesapphires.com, Leibish, etc. The price these online platforms quote consumers are cheaper than retail jewelers because these precious stones have exorbitant costs such as spending an excessive amount of capital securing the right location (90210 Beverly hills, Manhattan), extremely high rents and overheads, store refurbishment, stock inventory which is the most expensive, bank financing (loans, OD), expensive employee salaries, insurance and most importantly a heavy budget for marketing to make people walk through their door. The online diamond & gemstone trading business model does not have these expenses and the savings are passed on to the consumers. Price plays an important role in all consumer products. Same time consumers want to buy directly from the sources as they are aware that they can get diamonds & gemstones for cheap and cut all the middlemen. The online trading sector markets its products via all social media platforms. Mainly through Instagram. Same time they use Google Ads to advertise their website and target keywords to list their website on the 1st page of google. The page popularity on the internet is handle by an expert team that specializes in search engine optimization. This is the process of growing the quality and quantity of website traffic by increasing the visibility of a website or a web page to users of a web search engine. SEO refers to the improvement of unpaid results and excludes direct traffic and the purchase of paid placement. These marketing methods do not cost a lot of money.
The evolvement of technology played a massive role in the online Diamonds & gemstones trade. The high-quality 4K & HD video recording cameras & mobile phones (iPhone 11 Pro) has revolutionized the media side of the online trade. Especially for colored diamonds & gemstones such as Sapphires, Rubies & Emeralds. The quality these new cameras capture is almost very similar to how you see from the naked eye. These high-quality videos even help international wholesale buyers to conduct their purchasing by looking at these videos. Many years ago this was impossible as photos and videos weren't clear enough to get an idea of the quality of the stones. The LGBTQ movement has also become popular & the support for this movement is increasing worldwide. People are now more interested in colored stones rather than colorless diamonds. The Rainbow sign represents the LGBTQ movement. This sign has awakened more the human desirability for color. Only very few people can afford colored diamonds so the next option would be gemstones. The gemstone sector is set to boom due to the evolvement of technology and the boom is expected to come from the internet. Especially due to the Covid19 pandemic people cannot travel and online purchasing is the only option for them. The Sri Lankan gem & jewelry industry is already seeing positive signs and is expected boom in the coming years.
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Same time most of the above mention online platforms have a long-lasting and reputable image that they have built for many years. The diamond & gemstone trade relies on trust and if they cheat an online consumer, he or she will write a bad review on google regarding the site and how he/she was cheated. The new generation online consumers always check google reviews before purchasing anything online. Not just a diamond, even when they are shopping for clothes. Online google reviews play a huge role nowadays. One bad review about the website can almost destroy the entire business. Especially diamond & gemstone trading platforms.
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These websites have pages to educate their clients about diamonds & gemstones they want to buy. They show how and where these precious stones are sourced. They always try to show the consumer that these precious stones are mined out ethically and eco-friendly. They use HD quality video footage documentaries to show how a precious stone comes out from the earth and to a ring. These kinda educational marketing methods help attract consumers to buy from these websites. The new generation of consumers loves learning new things. They are eager to get educated about the product they are interested in buying. These website targets and market knowledge, which is the most important marketing tool they have come up with. They also broadcast the company image in video footage or by a mini-documentary. They show the owner faces and the office spaces where they work and also the jewelry manufacturing factories and how jewelry is made. With a certain amount of conditions the product they purchase can also be returned in 30 days. These things help improve consumer confidence and make them buy precious stones and jewelry online. Same time these online trading platforms are owned by a gemologist and the employees are also graduate gemologists from the Gemological Institute Of America. Which was established in 1931, GIA is the world’s foremost authority on diamonds, colored stones, and pearls. A public benefit, nonprofit institute, GIA is the leading source of knowledge, standards, and education in gem and jewelry.
The online trade has conducted $Billion dollars worth of sales in the past few years. So the diamonds & gemstones online trade is already a success.
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