De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Business Pulse: Are You Selling Online?
According to our latest Business Pulse survey, the answer for many jewelers is no, for now.
New York--National Jeweler/Jewelers of America’s latest Business Pulse poll found that many jewelers still aren’t selling jewelry on their websites, though some seem to be warming up to the idea.
When asked to describe their company’s web presence, the highest percentage of respondents (69 percent) said they have a website but it’s not e-commerce enabled.
About a quarter of survey-takers do have e-commerce on their sites while only 6 percent reported having no website at all.
Of the 24 percent of respondents with e-commerce-enabled websites, 75 percent are making less than 1 percent of their overall sales online, while 11 percent are making between 1 and 1.9 percent of sales there.
Only 8 percent of respondents reported that online sales accounted for more than 4 percent of their store’s total sales. As one survey-taker noted, “The majority of my peers (small stores doing $800K to $1.2 million) find that it (online sales) is not significant.”
While it might not seem “significant” now, many digital experts argue that having e-commerce is a must in retail today.
Even if a lot of sales aren’t made on a store’s website, they argue, it at least gives customers the option to make a purchase should they change their mind about a piece of jewelry after leaving the store or need time to contemplate a purchase.
It also gives jewelers the chance to reach customers outside their immediate area.
So, will more independent jewelers come around to the idea of e-commerce in the future? The survey seems to point to yes.
The 2 percent of respondents who marked “other” when asked to describe their company’s web presence said they are in the process of building a website that will include e-commerce, and four more jewelers said the same in the comments sections of the survey--that online sales are part of their website redevelopment plans.
Lamb and lion
National Jeweler/Jewelers of America’s Business Pulse poll for April also asked jewelers about their store’s sales in the month of March as compared with March 2015.
The greatest percentage of respondents, 29 percent, reported a drop in business of less than 25 percent while nearly the same percentage (28 percent) reported business was up less than 25 percent.
Twenty-two percent recorded flat sales in March.
Very few jewelers found themselves at extreme ends of the spectrum, with only 15 percent up more than 25 percent and 6 percent down that same amount.
National Jeweler
The Product Pulse portion of the survey questioned jewelers about their gold jewelry sales. National Jeweler published those results last month.
The Latest
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.
The retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
The bridal collection consists of 35 engagement rings and seven wedding bands.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.