Archive for Buying Help
The Young Consumer Prefers Walk-In Jewelry Stores to Internet Sites
Posted by: | CommentsNowadays we are so used to hearing that the young generation prefers to buy everything online that we hardly pause for a moment to consider whether this statement is actually true. From buying groceries online to finding special e-deals on retail clothing sites, 20 and 30-somethings seem to have it all figured out.
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Well, that seems to be only part of the story. While it’s true that this segment of the population is the most Internet-savvy, it does not necessarily imply that such skills influence shopping behavior. We may surf online to compare prices and get an idea of what inventory is out there, but we may still want to step into a brick-and-mortar store to get a personal encounter with a product.
This is what JCK Magazine recently discovered about the 18-25 year-old shoppers: more than 68% prefer to shop for clothing and shoes in stores rather than online, according to a joint survey by LIM College and the National Retail Federation Student Association. Read More→
Should You Be Worried? Jewelers Evaluating Diamonds Independently
Posted by: | CommentsAs if there weren’t enough to confuse you about buying a diamond, now many brick-and-mortar establishments in America are doing their own in-house diamond certification instead of relying on the big name labs like Gemological Institute of America (GIA) and American Gem Society (AGS). In other words, they might initially review the certification and then file it away, instead preferring to assess the gemstone with their own set of criteria.
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For example, Jeff Jaffe of Harold Jaffe Jewelers in Toledo, Ohio, told JCK Magazine, “We don’t believe in any certificates – even from the better labs. If I agree with the diamond grading document, I’ll use it. But we usually go downward – not upward – when comparing our diamond evaluations to grading reports from a lab.”
Likewise, Craig Underwood of Underwood’s Fine Jewelers in Fayetteville, Arkansas, now presents customers with his own diamond reports since he felt there were too many inconsistencies in the reports he received from various gemological labs. He explains, “We’ll give the customer a lab-issued diamond grading report if the customer specifically asks for it, but that rarely happens. Most of the time the lab-issued grading report is filed in our archives and never shown to the customer. The only report the customer receives is our Underwood Diamond Report.”
Diamond Market Watch: Polished Diamond Prices Rose 17% in 2011
Posted by: | CommentsAccording to the IDEX Online Polished Diamond Price Index, polished diamond prices rose by 17% last year. That puts the price of diamonds at pre-recession levels, after two years of weak progress.
While prices rose overall by 17% in 2011, they surged and fell dramatically from month to month. The beginning of the year saw prices surge while the last five months were much less volatile.
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The most notable increases were in half-carat diamonds and three-four carat diamonds while those in the more middle class, i.e., one-two carat sized diamonds, showed less market change. It seems that in the post-recession market, the greatest demand has been in these two markets: the lower end, smaller carat sized diamonds, as well as high end, three-plus carat diamonds, leaving demand for the standard one carat diamond engagement ring further behind.
To what can we attribute the overall rise in polished diamond prices? For the most part, there were more positive market factors than negative ones in 2011. Here are just a few:
• Americans were optimistic about the end of the Recession and were finally ready to spend more money. This increased global demand since America is the largest global market for loose diamonds and diamond jewelry.
• China and India, countries with emerging diamond markets, increased their demand.
• Diamond dealers and retailers increased their inventories and restocked their diamonds due to uncertainty about supply of rough diamonds.
