Vox Populi

[pricescope]

A while ago we had a survey on this board. It resulted in this article: Vox Populi The Consumer’s Voice

Thanks a lot to everybody who shared their thoughts and IDEX for listening!

Questions and discussions can be found in these topics:

• How you determine the price you are willing to pay for a diamond?
• What is your perception or reasoning behind price hikes of diamonds?
• How do consumers view diamond certificates and their impact on prices?
• What is consumers awareness of Natural vs. Synthetic diamonds?
• How the Internet affected your diamond buying process?
  [*]Where do you think is the cheapest place to purchase a diamond?
• If you want to sell a diamond – what are your options?
• To many consumers buying diamonds is a scary prospect– what is the main reason for this?
• What diamond industry should do in order to change this situation?

 

[strmrdr]

Overall a good article.
Some of the points are rather weak and not supported by the answers that I can find.

"They believe the rough flow to the market is controlled, but on the other hand, they wouldn’t like to see a sudden flood of diamonds into the market leading to tumbling prices."

The first part is well supported but not the second.
I didnt see where we said we wouldnt want a flood of diamonds.
Im all for it :}

I could be missing something (short on time) but I didnt see it.

 

[niceice]

The article basically sums up what those of us who have been selling diamonds to people on the internet and customers who have purchased on the internet have been talking about here on PS for years... The nice thing about the article is that it will be read by traditional brick and mortar jewelers and suppliers, many of whom look upon the internet and PS as the arch nemises that should be put down because they fail to recognize the fact that consumers today are more educated about diamonds and all other products because they tend to research more before making a major purchase than they used to. The article will fuel the fire burning in the hearts and minds of a lot of store owners and suppliers, but hopefully a few of them will actually read it and glean a little information from it about how they can improve the way they work with people who walk into their stores... Despite the fact that our industry is full of excellent sales people, it also has it''s fair share of "clerks" who fail to qualify the needs of customers when they walk into their store by asking a few simple questions that would result in a better experience for everybody involved... Where have you been? What did you like? And why didn''t you buy it? If the customer answered "I''ve been shopping on the internet" the salesperson had better be up to speed with their product knowledge or should be smart enough to pass the customer off to somebody who is and they should know that they''re going to look like idiots if they try to hit the customer with a traditional brick and mortar price structure or traditonal sales tactics because they are likely working with a more educated consumer. When a customer indicates that they have been shopping on the internet, it is a signal to the salesperson that the customer is likely to be interested in more detailed information about the diamond or jewelry item that they are looking for, but instead of trying to educate the customer at this point, it seems that a lot of retailers try to scare the customer by talking about all of the bad things that they have heard about buying diamonds on the internet - most of which is "urban legend" that is passed from one scared rabbit jeweler to the next... This is a very real tactic that is being implimented by a lot of jewelers, we know because they tell us that it is when they meet us. We respond by pointing out that most people can see right through this tactic and respond by walking out of the store, they''ve noticed this too but can''t seem to help it. Why is it that we find ourselves having wicked thoughts about PS needing a new section of tutorials written for the retail trade about how to survive an educated consumer? Large print... Lots of pictures... No big words... Uh yea, we''d better stop there

 

[pricescope]

Date: 5/16/2005 1:34:22 PM
Author: niceice
...''I''ve been shopping on the internet'' the salesperson had better be up to speed with their product knowledge or should be smart enough to pass the customer off to somebody who is and they should know that they''re going to look like idiots if they try to hit the customer with a traditional brick and mortar price structure or traditonal sales tactics because they are likely working with a more educated consumer. .....

".... try to hit the consumer with a traditional brick..." You made my imagination go wild

 

[Garry H (Cut Nut)]

Sooo funny Leonid!!

R&T - you said it all

 

[Hest88]

Congratulations, Leonid, on a very nice article.

You know, though, upon re-reading it I wish we had added one more question: "If you chose to buy from an Internet vendor over a local vendor, what were your main reasons?"

Although you state a number of times in the article that knowledge and service trump price, I don''t think it''s as explicit as I would like. Maybe for Part 2?

 

[Garry H (Cut Nut)]

Date: 5/16/2005 1:34:22 PM
Author: niceice
. When a customer indicates that they have been shopping on the internet, it is a signal to the salesperson that the customer is likely to be interested in more detailed information about the diamond or jewelry item that they are looking for, but instead of trying to educate the customer at this point, it seems that a lot of retailers try to scare the customer by talking about all of the bad things that they have heard about buying diamonds on the internet - most of which is ''urban legend'' that is passed from one scared rabbit jeweler to the next... This is a very real tactic that is being implimented by a lot of jewelers, we know because they tell us that it is when they meet us. We respond by pointing out that most people can see right through this tactic and respond by walking out of the store, they''ve noticed this too but can''t seem to help it. Why is it that we find ourselves having wicked thoughts about PS needing a new section of tutorials written for the retail trade about how to survive an educated consumer? Large print... Lots of pictures... No big words... Uh yea, we''d better stop there

Could not agree more - Leonid make the suggestion at Vegas - i will write it - contributions kindly accepted

 

[valeria101]

Date: 5/16/2005 4:31:04 PM
Author: Garry H (Cut Nut)

Date: 5/16/2005 1:34:22 PM
Author: niceice
...
Why is it that we find ourselves having wicked thoughts about PS needing a new section of tutorials written for the retail trade about how to survive an educated consumer? Large print... Lots of pictures... No big words... Uh yea, we''d better stop there

Could not agree more - Leonid make the suggestion at Vegas - i will write it - contributions kindly accepted

Wonderful idea ! You guys will bring Pricescope full circle: it has been setting information loose from the trade for shopper''s use... a tutorial for the trade will close the feedback loop.

Even from the sidetrack the process has been very cool to watch

 

[hoorray]

Congrats Leonid on a great article. It may seem like common knowledge to us, but is probably not quite so obvious to those with their blinders on.

 

[niceice]

Date: 5/16/2005 2:09:21 PM
Author: Pricescope

''.... try to hit the consumer with a traditional brick...'' You made my imagination go wild

I''m sure that the thought has passed through the minds of more than a few retail jewelers

 

[icelady]

Date: 5/16/2005 2:09:21 PM
Author: Pricescope

Date: 5/16/2005 1:34:22 PM
Author: niceice
...''I''ve been shopping on the internet'' the salesperson had better be up to speed with their product knowledge or should be smart enough to pass the customer off to somebody who is and they should know that they''re going to look like idiots if they try to hit the customer with a traditional brick and mortar price structure or traditonal sales tactics because they are likely working with a more educated consumer. .....

''.... try to hit the consumer with a traditional brick...'' You made my imagination go wild

Leonid...I love your sense of humor!!!

 

[valeria101]

Date: 5/16/2005 7:00:07 PM
Author: niceice

Date: 5/16/2005 2:09:21 PM
Author: Pricescope

''.... try to hit the consumer with a traditional brick...'' You made my imagination go wild

I''m sure that the thought has passed through the minds of more than a few retail jewelers

Now, B&M have their bricks, but what can websellers do ?

 

[Garry H (Cut Nut)]

Date: 5/16/2005 8:16:25 PM
Author: valeria101

Now, B&M have their bricks, but what can websellers do ?

Simple - tanlgle their minds in a complex web of excessive information

 

[valeria101]

Date: 5/16/2005 8:39:28 PM
Author: Garry H (Cut Nut)

Date: 5/16/2005 8:16:25 PM
Author: valeria101

Now, B&M have their bricks, but what can websellers do ?

Simple - tanlgle their minds in a complex web of excessive information

Yiks !

I thought that is my priviledged function in society ... at least that''s what my students say

 

[MissAva]

Intreasting article!