Reading Time: 3 minutes
“When presenting diamonds both natural and lab it is so important to highlight the age of natural diamonds,” says Asaf Herskovitz, CEO GN Diamond. “It is almost incomprehensible to realize they are 1 billion – over 3 billion years old. Most are found between 93 and 155 miles below surface and some as deep as 500 miles! The question is often asked, how many salespeople incorporate this into their sales pitch?”
“Some people say that natural diamonds are nature’s scarce masterpieces,” he added. “This is likely the oldest item any one person may buy in their lifetime. It is no wonder there is approximately a 34% shortage of natural diamonds today compared to 2005.”
These facts alone can begin a fascinating conversation between retailers and prospective customers when shopping for diamonds. Lab diamonds certainly have found their place in the market, but now due to mass manufacturing, there is no limit on production. Additionally, big box retailers like Costco, Walmart, Macy’s, QVC, and JCPenny are increasing their lab grown inventory and providing major competition for independents.
GN Diamond speaks with over 4,000 jewelers daily and has learned more retailers are presenting natural diamonds first. Cash flow continues to be a concern and while profit margins may be higher with lab grown diamond sales, bottom line net revenue is greater with natural diamond sales. “The health of the industry is to first sell natural diamonds,” said Herskovitz.
One easy tool to aide in presenting natural diamonds is GN’s free and easy to use 3rd party light performance tool. Light performance is key to a diamond’s brilliancy, fire and unique captivation. The light performance tool creates a quick way to explain why no two diamonds of similar size, color and clarity are the same and how one may be less expensive but may not be as brilliant as the other. This helps retailers explain pricing differences and reduce negotiations. Additionally, a QR code may easily be scanned to create a fascinating diamond story including its light brilliancy, GIA certification, and Gemprint insurance discount. All of these factors help jewelers sell more diamonds and reduce competition.
GN diamond offers free training and continuously strives for ways to help jewelers sell more diamonds. For more information call 800-724-8810, visit gndiamond.com or email sales@gndiamond.com.
The post Overcoming cash flow challenges and re-energizing the natural diamond market appeared first on Southern Jewelry News.
from Southern Jewelry News https://ift.tt/vniRcLG