Why Online-Only Retailers like Beverly Diamonds Succeed
Beverly Diamonds has been in business since the year 2002. They are headquartered in the Jewelry District of Los Angeles. Their prices are competitive and products made from the finest colored gems and diamonds. Beverly carries on their tradition of excellence not just in quality, but also craftsmanship. Their success in selling diamond jewelry is attributable to affordable prices and high quality. Many Beverly Diamonds reviews highlight these positive points.
There are some main reasons why online stores such as Beverly Diamonds prevail. These apply to most reputable online-only retailers in the US including Beverly.
Just imagine the huge amounts of overheads expended to run a jewelry retail operation, having thousands of physical store locations. Of course, each store location will have to pay utility bills, rent, and salaries to a bigger staff. Such businesses generate tens of thousands of dollars in revenue per year. However, their fixed expenses that are not related to the cost of goods sold eat up a considerable chunk of their annual revenue. As a result, their profit will not be that much. Therefore, some of these brick and mortar stores are not profitable.
For customers, buying products from online-only stores is more affordable. This also applies to diamond jewelry. As e-commerce stores like Beverly Diamonds do not have to bear that much total overhead cost, they can price their products economically for customers. After all, when do businesses charge high prices from customers? When they have to recover the costs associated with running the business and earn profits. Online-only businesses are at liberty to set economical prices, which benefit customers. So for both parties, it is a win-win situation.
Quality and Better Focus on Education
There are two rules to buying diamond jewelry from an online platform that you need to know. Firstly, e-commerce customers have a better knowledge of diamonds. This is mainly because jewelers such as Beverly Diamonds put more focus on disseminating education about the stone.
Before the times of purchasing diamonds online, customers lacked resources to learn more about diamonds. Salespeople used to be their main source of knowledge about diamonds. As you might expect, not all salespeople will give an unbiased opinion about their company’s products. Instead, their focus would be more on convincing customers to buying.
This face-to-face interaction with salespeople will not be there when you buy any product online. Instead, you have Beverly Diamonds reviews and other such sources to learn more about what you are going to buy. This means you can educate yourselves on diamonds, instead of letting someone else trick you into making unwanted choices.
Educated customers would know better. They would know that it is not the number of facets that make a diamond stunning, but how these features interact with one another. This is determined by the proportions and angles of a diamond. Conversely, an educated customer will fall for marketing that just sugarcoats facets as some celestial being. Some jewelers mention things like this diamond has “X” number of facets. Before you think any further, please know that what matters more is the craftsmanship and quality. Resources like Beverly Diamonds reviews focus more on those matters.
Less Amount of Inventory to Keep
Even with less stock, online-only stores can keep the jewelry sales process much more streamlined. Let us take earrings with diamonds as an example. Brick and mortar retail chain have to keep at least a pair available always at each shop for each size and quality.
Besides, they need to have at their main office a considerable number of backup earring pairs in case they have to replenish their stock at a shop. Generally, the main office has to carry around a thousand pairs of each size and quality of diamond studs.
Conversely, an online store needs just one stock. They only have to keep in their inventory the amount they might sell in the week, presumably 20 to 40 pairs. The inventory requirements of smaller online stores would also be less.