The Benefits of Private Labels in the Diamond Industry
When it comes to buying jewelry around the holidays, the number of retailers to consider may seem endless. From those claiming to have fair trade diamonds or lab made diamonds, to big name brands with striking store fronts, or that friend of a friend jeweler who will give you a great deal. Figuring out a jeweler to move forward with is no small feat.
So where to begin? Starting from what’s most important to you and your partner will be key. Then, find a jeweler who compliments those areas – quality, customer service, etc.
Recent studies have shown that the majority of Millennial and Gen-Z consumers enjoy on-trend jewelry, but don’t want to pay the name brand prices. Thanks to this wide growing population of customers, private labels are having quite the moment.
In the jewelry world, private label jewelry manufacturers are companies that make jewelry on behalf of a partner business. Private labeling means the jeweler has complete control over product specs such as design, pricing, size, packaging and distribution. Put in simpler terms, private label jewelry translates to great products at a more reasonable price, with more room and budget left for innovation. Best of all, jewelers are able to make custom products for far less than big brands, ultimately passing those savings onto customers.
Still not convinced a private label jewelry store is the way to go? Then check our Top Four Reasons to consider it:
Cost- Private labeling means jewelers have autonomy over the creation process and are able to cut out the middle man.With lower operating costs, this leaves your private label jeweler room to provide the price discounts directly to you.
Trust & Stability- Today’s consumers choose private label jewelry products for quality, consistency, and affordability. Even in economic downturns, private label goods enjoy steady sales thanks to lower price points which means you don’t have to worry about them going out of business and needing to find a new jeweler for future purchases. You can feel confident in the products you choose to buy from private label jewelers because jewelers must be subject-matter experts and industry innovators in order to create products that meet customers’ needs. In order for a private jeweler to be successful, they would have had to have done the research and developed the best quality products. Read our article, The Diamond Industries Two Truths and a Lie.
Customization & Variety- Private label jewelry enables jewelers to customize their product line to fit the needs and wants of you, their valued customer. These small batch capabilities allow them to produce store-brand products that are unique to your design specifications, while also providing a wide variety of possibilities, a far cry from cookie cutter engagement ring settings.
Quality & Consistency- Being able to offer a signature product line comes with exclusivity and the ability to design a one of a kind piece of art. Unlike other big name brands, smaller jewelers provide the best possible customer service in the industry. They can articulate where their diamonds come from, help educate you, and work with your unique budget. Smaller jewelry retailers are typically in it for the long haul and rely on you sharing your positive experience with others, as they are determined to earn your loyalty.
So the next time you’re in the market for a one-of-a-kind piece of jewelry, consider the many benefits of choosing a private label jewelry store like La Bijouterie.
To book a stress free appointment and learn about our unique three step design process, click here.
Founder, La Bijouterie