Diamonds are one of the most expensive jewelry that is available in the market. Since the introduction of e-commerce, many manufacturers and vendors have started trading through online platforms. Due to the increase in the popularity of online markets, many people have started selling diamonds through the internet. Since it is a rare and expensive item, many still prefer to buy diamonds through traditional stores. Some of the key factors that differentiate online diamond stores from traditional diamond markets are as follows.
Price Of Diamond
The price of diamonds in online markets is lower than that in normal stores. This is not because the diamonds available in online stores are of poor quality but because of its low intermediary cost. In traditional market diamonds are available to common people only through retail stores and for them getting the stones from the manufacturers or the wholesalers and making it available to the final consumers is a lengthy process and it will incur a lot of charges like import tariff, customs duty, etc. It will also have the element of profit of both the retailer, wholesaler, and manufacturer.
On the other hand, most of the online diamond stores are hosted by manufacturers or wholesalers. This reduces the intermediary cost, which is the profit element of retailers and middlemen. Since the online markets have no physical existence, the capital expenditure is low and it will be reflected in the price of their product.
Number Of Choices
The number of choices of diamonds available in an online store will be always higher than that of a traditional store. Since it is necessary for traditional stores to keep their products in physical form and show it their customers on demand, they would require a lot of space for conducting the business. Even if the vendors are having a large building, the limitation of space for storage will always exist and that makes the choices to the customers limited.
Online marketplaces do not have a specific place of business and it is spread across the whole internet. This makes the vendors post a large number of options to the consumers. Since there is no hindrance to space in online markets, the choices available to the buyers are unlimited.
|Basis Of Difference||Online Store||Traditional Store|
|Personal Interaction||Not possible||Possible|
|Physical Examination||Not possible||Possible|
Interaction With Seller
The scope for personal interaction with the seller is absent in online marketplaces. Diamonds are rare and expensive commodities and most of the people will be having a lot of doubts and regarding its features. They would also expect to have expert suggestions and recommendations about the stones as per their needs and wants. This will not be available in online stores.
In traditional markets, there will be a salesperson or vendor who would be ready to answer any queries about the product they are offering for sale. The buyers will also get personalized attention and suggestions from the salesperson. This will lead to better customer satisfaction.
Touch And Feel
It is one of the main features that make a traditional store different from online stores. While shopping through an e-commerce website, the consumer will have to imagine the actual product from the pictures and description of the products provided by them. The buyers will not be able to physically examine the actual size and weight of the diamond before purchasing.
While purchasing diamond jewelry from traditional markets, the consumers can touch and feel its texture, try it on, and decide the best model which is suiting them. This is the main reason for people to prefer retail stores over online markets. However, if a person is confident about the appearance and other qualities of a product, the online market would be a better choice.
Convenience Of Purchase
It is well known that online stores are more convenient than traditional stores. The online market is spread across the internet and it can be accessed from anywhere around the world if a person has a mobile or computer and an internet connection. Since it is available 24*7, the consumers can shop whenever they want.
If a person wants to purchase a diamond from a normal store, he or she will have to physically walk into the place. Since the traditional stores have a specific time for functioning, the consumers will have to reach the place at that time. The only benefit of buying a diamond from a normal store is that the consumer can take it home immediately after the purchase.
Buying diamonds online and offline have their advantages and disadvantages. If you are looking for good diamonds at a cheaper rate, an online store would be better and if you would like to personally touch and feel the stone before buying, the traditional store is the best choice.