RapNet Blog
People pass a jewelry store in their travels, and like magic, they stop to stare at the window display of diamonds. Often, they enter because there’s just something very alluring about diamonds.
What is the magic formula, then, that will move a person from simply gazing at your diamond jewelry to leaving your store as a customer after having purchased it from you?
Why Do People Buy Diamonds in the First Place?
Most of the work convincing people that diamonds must be part of their lives, and incorporated into their milestones, has already been done. In 1947, De Beers essentially created the tradition of a diamond engagement ring, and although nobody was certain that it would last, it has. Establishing a rule-of-thumb standard of two-months’ salary as a sign of commitment to the marriage was another stroke of genius. Few people consider an engagement ring expense as a poor financial decision, and many women do indeed equate the size of their engagement diamond with the degree of their fiancée’s love!
In general, people regard diamonds as an expression of value. As Martin Rapaport, chairman of the Rapaport Group and founder of the Rapaport Diamond Report, so eloquently put it in his article, “Spiritual Sparkle,” (June 2006):
“We are not really in the diamond business. We don’t sell the diamond; we sell the idea behind the diamond. A woman wants you to give her something that doesn’t have immediate functional utility because that means that your relationship with her is beyond pure functionality. The emotional, altruistic aspect of the relationship is what is most important.”
The Impact of Lifecycle Events
Any number of reasons will bring customers to seek out a jewelry store with a singular interest in diamonds. Engagements, of course, but fiftieth wedding anniversary celebrations are often punctuated with diamonds for both men and women, and a current trend promotes single women buying diamond solitaires for themselves as a statement of strength in not being married. People restore family heirloom vintage jewelry and add diamond baguettes, for example. Diamond earrings are a frequent gift to young women of a certain age, and there are those who will procure diamond-studded collars for their beloved cats or dogs. The idea of a diamond as special and gift-worthy is indeed long established.
A Customer’s Need for Information
A customer’s reason for buying diamonds may be clear, but what is less evident is what influences a customer’s purchasing decision.
Because many people know about the “4Cs” – Color, Clarity, Cut, and Carat, you, as a diamond jeweler, need to be clear in your presentation of how each factor impacts on the quality of a diamond, its beauty, and, of course, its price.
In addition to the 4Cs, there are others factors which many customers will consider before buying a diamond:
Human Rights Issues - There is great awareness now of the ethical issues relating to blood or conflict diamonds and it is likely that customers will wish to avoid purchasing such diamonds. Be certain to make it clear that you order your merchandise from reputable dealers with high ethical standards, like those found on RapNet. For more information about conflict diamonds, read our blog on Where Diamonds Are Mined & Why That Matters to Retailers and Consumers.
Diamond Certifications and Lab Reports - It is important for a customer to have confidence in their diamond and diamond jeweler, so they should, therefore, be shown diamond “certs” – certificates – that are issued by third parties, who do not have a vested interest in the outcome of a particular transaction. This reduces the risk of a jeweler taking advantage of unsuspecting buyers by presenting the stones as if they are of a higher caliber than they actually are.
Reputable Certification Labs:
- Gemological Institute of America (GIA)
- American Gemological Society (AGS)
- American Gemological Laboratories (AGL)
- Gemological Science International (GSI)
- International Gemological Institute (IGI)
- Diamond High Council (HRD)
Expecting a Positive Shopping Experience - A potential customer entering your diamond jewelry store should experience only the best in customer service. Be friendly and approachable. Present your stones with poise and expertise. Be upfront about your exchange and return policy. Make sure that the expense in purchasing diamonds is justified in the experience of the sale. Look for our upcoming blog posts that further elaborate on this subject.
Conclusion
You may be one of several diamond jewelry stores in your local area, but if you take into consideration the factors above, you can go a long way to ensuring that a person peering into your shop window will actually become a customer. Making a good impression that lasts not only results in repeating customers, but also in referrals, so make sure all your customers are happy ones, and then encourage them to tell their family and friends to come to you for their diamond jewelry needs. As well as the 4Cs, consider the 4Gs of diamond buying - great merchandise, great value, great shopping experience and great salespeople!