Does anyone really buy expensive jewelry online?

"Who wouldn't try to spend tens of thousands of dollars on the Internet to buy a diamond ring" - this was definitely a rhetoric a few years ago, but now it may not be because the digital business of jewelry is booming. In two or three years, the jewellery e-commerce platform has emerged from the surface, selling not as cheap as we imagined.

Zaha Hadid Limited Edition Jewelry

The latest antiques on the Revival online platform include diamonds, sapphires, emeralds, and necklace pendants for up to $20,000 in the Elder Edward era. More contemporary jewellery will also appear, such as the limited edition jewellery designed by the late architect Zaha Hadid inspired by the animal skeleton, priced at $25,000. “There are always buyers asking for higher-end six-figure jewelry,” said platform founder Dalia Oberlander in an interview with American fashion website Raked.

The original intention of her online jewelry platform was to help customers find old objects that are rare on the market. In 2012, Dalia Oberlander found a ring that Cartier launched in the 1950s to run a myriad of stores, and asked about the number of jewelers: "The time cost is too high."

In addition, due to the attribute of the product, even the “Auntie” jewellery brand for the longer age group has a sense of superiority of “born with a golden key”: platinum, diamonds and jade jewelry. Thousands of prices have been kept at a certain distance from the public. Brands also seem to be enjoying and deliberately creating a “unreachable” sense of dreams – and at the same time, they have created a sense of oppression for customers who initially contact such products.

As for the jewellery brands themselves, they are usually more willing to let their own jewellery appear in high-end luxury journals, or accompany stars to attend various red carpets, and even witness a century of romance. At the store design and service level for end consumers, we will not give up the excellence. However, for those customers who are new to the market, physical store consumption is not as good as expected.

If you travel to New York and ask where the Tiffany flagship store on Fifth Avenue is, I am afraid that few drivers in the area do not know the answer. When the customer walks into the luxury foyer of the store, they are usually led by the clerk of the suit. After a lengthy chill, the guest was sent to the elevator, which seemed to meet an alien visitor--"I don't usually talk about it, but I really don't like to talk to people." Shane found Philadelphia through Facebook. A private jeweler made a wedding ring, because the luxury of the traditional high-end jewellery brand store made him feel uncomfortable.

“In a traditional shop, almost everything is placed in a glass cabinet. You have to ask the clerk for help, and you don’t know the price beforehand.” Nadine Mc Carthy, founder and CEO of online jewelry retailer Stone & Strand Kahane said. "You can clearly feel the clerk's eyes, it seems to say, how to read this piece depends on that." This embarrassment made her believe that the online platform is bound to catch a group of buyers who have had the same experience.

Obviously, veteran jewelers are beginning to realize the importance of digital sales. De Beers Diamond Jewelers finds more and more customers accustomed to browsing online, understanding and even buying jewelry products. “Most of our revenue is still coming from physical stores,” said brand director Jennie Farmer. “But digitalization is the top priority of the future.”

Tiffany's competitor, Blue Nile, has opened a “network lounge” for more than a year, allowing consumers to first touch products, try on jewelry, and then order online through the iPad or at home.

Compared with fashion products, the growth rate of jewelry online business is still limited. According to McKinsey's "Vision for the Vision of the Jewelry Industry" report, although two-thirds of buyers will visit the official social networking site from time to time to understand product information, they still rely on physical store sales. By 2020, jewellery online sales are expected to account for 10% of total revenue, and fashion jewellery products can account for 10%-15%.

In the Chinese market, the development of online business has become difficult. The World Gold Council's latest "China Gold Jewellery Market" insight report found that security is the biggest concern for Chinese consumers online shopping. In the United States, not many people are worried about security. Although consumers also like to touch the real thing, they are six times more likely to consume online than Chinese consumers.

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