The shift of diamond-buying to the online market is inevitable, some in the business believe.
Here Suraj Poddar, Uniglo Diamonds director, explains why…
The world of business has known many changes over the years and has become much more digital.
The diamond industry is no exception to this, and for a business or brand to be able to compete it is important to adapt to the ever-changing industry.
You have to constantly innovate and think of new ways to run the business, and this includes digitalisation.
Traditionally, someone looking for a diamond or multiple diamonds would contact several suppliers, wait for their response and visit a few to see the diamonds in real life.
This process takes up a lot of valuable time. In the last few years, however, a new trend emerged in the diamond industry.
Diamond suppliers, such as our own company Uniglo Diamonds, started experimenting with selling diamonds online.
While people might have been hesitant at first, they quickly realised this new way of buying diamonds was very efficient.
The Covid-19 pandemic has truly shown us the importance of being able to offer diamonds online and has made it very difficult for businesses without an online presence.
Why is online diamond shopping such a trend? It’s very time-efficient as buyers no longer need to visit many different suppliers.
While they are usually situated in the same area in a city, such as the Diamond District in Antwerp, it is still very time consuming to visit different businesses.
By offering diamonds online, people can watch your entire stock straight from their smartphone, tablet or computer and have a look at all of the diamond’s characteristics.
At Uniglo Diamonds, we invested in creating an online platform as well as an application available on Android and Apple.
It allows people to see thousands of diamonds, the certificates if applicable, as well as all the characteristics. The certified diamonds even each come with a a 360° image option.
The online buying trend has been reinforced even more so by the many travel restrictions imposed during the Covid-19 crisis. Buying online means you no longer have to spend hours travelling by car, train or aeroplane.
In Uniglo’s opinion, the trend of buying online will keep on rising and will become the main way to buy diamonds.
Established brands can perfectly combine the online strategy with offices in the different diamond cities around the world. This still gives the opportunity to the buyers to see the real stones they picked through the online inventory.
We’ll never stop innovating and adapting to the current market and cannot wait to see what the future holds, for ourselves and the rest of the industry.