Forevermark Launches Pilot E-Commerce And Diamond-Buying Programs For Jeweler PartnersMarch 18, 2015 (0 comments)
Orlando, FL –At its 2015 Forevermark Forum last week, the brand launched a facilitated e-commerce pilot program that allows its partners to be wherever the Forevermark customer shops, whether online or in-store. The new Forevermark e-commerce allows retailers to exponentially grow their range of designs and sizes, matching the full product offer on Forevermark.com.
When a consumer chooses to buy a piece of jewelry from Forevermark.com, they will be taken to a page to choose which jeweler they would like to purchase from. The nearest retailers will be shown based on IP address, and the consumer will then purchase directly from the chosen retailer. All sales are invoiced by the retailer, not Forevermark. The consumer can choose to have the item shipped either directly to their home or to the store, giving the retailer an opportunity to become a useful resource for supplemental services.
“Our research has shown 18% of diamond jewelry sales are happening online, although only 7% are purely online, meaning they do not visit a store,” says Charles Stanley, Forevermark US president (pictured above left). Brick-and-mortar remains the central stage for the customer buying experience but the new program allows the brand and its retailers to be wherever the consumer shops.
The pilot program is being tested with Forevermark retailers in California before being rolled out nationally, Stanley told The Centurion. When it is rolled out nationally it will be available to all Forevermark jewelers at no cost.
At the Forevermark Forum, Stanley told attendees, “The dynamics of buying jewelry have changed. Forevermark offers its authorized partners tools to stay ahead of the curve. Together we are breaking the notion that consumers buy online for price. E-commerce is the next step in our endeavor to bring profit back to independent jewelers and create value to consumers, keeping the diamond dream alive.”
Separately, Forevermark also announced a partnership with Diamond Asset Advisors (DAA) exclusively for Forevermark jewelers.
With a simple application process, the Diamond Asset Service Program allows Forevermark partners to obtain Forevermark diamonds on advantageous cash terms. Retailers have the flexibility to add inventory quickly at peak selling periods, carry larger diamonds, and broaden their selection of diamonds, without the heavy capital outlay up front. The cost of the diamond is payable only when it is sold, but it may be repaid earlier with no penalty. Rates are transparent and competitive.
DAA chose to partner with Forevermark because its diamonds are offered and graded by the De Beers Group of Companies, according to a company release.