by Desiree Hanson
Do you wish you knew how other retailers were pricing their diamonds? Do you question if your margins are high enough on the diamonds you’re selling? This free reporting service for retailers will provide actual sell-through transaction data for diamonds of all sizes, colors, clarities, lab grades, and more.
When the economic recovery is not accelerating and consumers prove more selective than ever before, information can be the key to your success. Here are a few of the insights that is now available with Diamond Tracker:
- The overall market has a markup of 57% (38% gross margin) for one carat, mid-quality goods. Is your average gross margin on par with your peers?
- Marquise stones have an average inventory age over four years. Watching inventory for low-turn items is more important now than ever. Now you are able to see additional details about which items are not in demand, so you can align inventory with sales.
- Lab grown diamonds represented .1% of total diamond sales in 2015 but in Q1 2016, sales have increased to .3%. Did you know lab grown diamonds offer 10% higher margins than natural diamonds?
- Diamonds sourced from your customers cost 25% less than those sourced through the wholesale channel but are capturing 98.5% of the retail price.
By participating with NPD, you will have access to this type of information plus so much more including shape, color, clarity trends and top sellers by price point. Retailers are using these reports now to plan their diamond purchases in Las Vegas next month. Participation is easy…especially as an ERA participating retailer. For more information about the service and how it may be able to help your store, please contact: firstname.lastname@example.org