B2B diamond trading platform Nivoda is adding a series of new features to its online market place that will deliver significant benefits to retailers, dealers and manufacturers.
The latest investments follow a solid year of expansion for the firm, as it recorded a growth rate of more than five times what it achieved in full-year 2019 due to new customers, added business with existing clients, extra features and the introduction of a returns policy.
In a further sign of its rapid ascent, Nivoda – which now offers $1.6 billion (£1.2 billion) of diamonds to choose from on its site – more than tripled its workforce from 13 members of staff to 43 last year.
New elements being introduced this quarter include a melee search facility, Shopify plugin and customer-facing mode that allows retailers to add their own mark-ups and branding.
Customers will now be able to buy star and melee diamonds for pave setting directly from the platform, selecting either by carat weight (0.003ct to 0.25ct) sieve sizes (0000-000 to 1/4) or diameter (0.08mm to 4.2mm).
CEO David Sutton explained: “Nivoda helps many UK and US customers source star and melee goods from Indian manufacturers. We have got a quality control centre in the Bharat Diamond Bourse. We look at goods from 20 to 30 factories depending on the order, and grade the parcels ourselves.
“We are able to compare parcels and offer the most competitive prices in the market, as well as the best and most consistent quality.”
Meanwhile, the addition of the Shopify plugin will allow retailers with physical stores to add a diamond search function to their websites with access to an inventory of tens of thousands of stones.
Mr Sutton said: “The plugin allows any retailer to quickly set up their online store powered by the Nivoda and Shopify platforms, without requiring an expensive custom website or developers to run it. This will allow them to get started selling virtual stock, including their mark-ups, in minutes.
“An integrated ring builder is part of the roadmap for the plugin as we continue to develop and improve features and services that will help retailers to reach more people and generate more sales.”
One of the most exciting developments for retailers that work with Nivoda is the availability of a customer-facing mode and the option to customise the branding and mark-up.
When the customer-facing mode is activated, pricing, supplier details and Nivoda branding are all removed.
“Then they can search or show their customer a chosen stone on the shop floor using a laptop or device. It helps them selling virtually. Most diamonds have 360-degree videos or an image and all the relevant information about the quality in order to sell it.
“In the next version of the customer-facing mode, the retailer can add in their prices with their chosen mark-up and they will be able to import their logo to the page to make it look like it’s their own website to allow custom branding.”