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HRA Group Announces Dialog: The First Diamond Subscription Service for Jewelers May 25, 2021 (0 comments)
Vancouver, BC--Site Holder HRA Group has announced Dialog, the world’s first subscription service for diamond retailers to merchandise their loose diamond inventory.
According to Dialog, the diamond and jewelry industry is transforming. Diamonds have always been seen as the ultimate luxury good — the pinnacle of success and desire, worn by celebrities and royals alike. Today, the luxury space is crowded. Handbags, expensive phones and other goods are part of the luxury market, and digital e-commerce has brought on further competition. Margins have eroded and the supply chain has been forced to maximize every dollar of invested capital.
The trends were noticed a few years ago. Vendors and retailers grinding each other for every dollar. The result is a zero-sum paradigm, where one party’s win is the other’s loss. The processes in the supply chain, once providing ample margins for all, no longer benefits those who created it. These pressures have become untenable. The industry is losing its sparkle.
What if there was a new model, where vendors and retailers have the same objectives? Where both parties are financially motivated by the same outcome? HRA has been in the diamond industry a long time. Decades. And out of the desire to find a new model, HRA developed Dialog.
For a short video about the program, please click here or on the video window below.
Dialog aims to make inventory easy for retailers. By transferring the inventory cost and risk to Dialog, retailers can choose to deploy their funds toward higher yielding initiatives and unlock capital for other opportunities. Aged inventory is an eliminated concern for jeweler's businesses.
This is how it works:
1. As a retailer, you curate your perfect merchandise selection from the Dialog platform.
2. Diamonds selected are then shipped to your store the very next day and can remain there indefinitely.
3. The monthly subscription fee is set between 0.8-1.0% of the inventory value.
4. Rebates are provided on sales which are deducted from your subscription fee on a monthly basis.
5. The system is automated and easy to use.
A jeweler's merchandising decisions should be informed by what the customers want to buy, not by what their vendors want to sell. Moments of desire are created when a customer walks through your trusted doors and sees the diamond they have imagined in their mind. There is no substitute for the experience of touching and seeing a beautiful diamond right before your eyes and in your hands. Not on a screen. Not the next day. Now.
In Dialog, the motto is Inventory Reinvented. Not only do they want to help companies reinvent their inventory, they want to reinvent the way the industry thinks about inventory altogether. Think of it like this: with subscription services like Netflix and Spotify in the market today, would you ever go back to buying a movie or CD? The folks at Dialog don't think so.
Interested retailers may email info@dialogvault.com for more information.