Why Do Retail Jewelry Stores Hate / Fear The Internet?
Why is it that you ask a local jewelry store owner about buying diamonds on the net and he/she will often curse a blue streak and bash the heck out of the Internet? What is it about buying diamonds and engagement rings Online in 2007, that has become such a threat to traditional “brick and mortar” jewelers across the country? Why do the traditional jewelry store owners fear the net so much and what is it specifically that bothers them? Why are the savvy jewelry store owners learning to embrace the Internet and looking to build out a website for their company in cyberspace? There is one answer to all of these questions and it has everything to do with two variables: Quality and Price. Let us first examine the facts: Online jewelry sales since 2005 is up 3.5% in contrast to all other retail categories which are up 2.3%. Online diamond and jewelry sales have been surging and were up about 3.5 percent of total fine jewelry sales in the U.S. in 2005. Since that time, the number has steadily
