Natural colored diamonds are a good way to attract the “disloyal customer,” said sales trainer Diane Warga-Arias at a breakfast seminar on “The Language of Color,” sponsored by the Natural Colored Diamond Association.
She noted that, in the current environment, retailers could no longer focus just on their regular customers, because their spending had dropped.
“You have to look at the disloyals, the ones that have bought from you but you know are also buying from someone else,” she said.
But she had a warning: “If you stay with the inventory you have, you are not going to get the disloyals.” Among the unique products she had in mind were natural colored diamonds.
Alfredo Molina, of Molina Fine Jewelers, in Phoenix, said he likes colored diamonds “because every diamond is a story. They are truly one of a kind.”
He noted that 60 percent of his company’s profits have come from fancy colored diamonds and gemstones.
George Walton, of George Walton’s Gold and Diamond, in Anchorage, Alaska, added, “On the Internet, you can find any white diamond in the world. This gets consumers out of comparing diamonds, because every stone is different. Even if they come with a 1.00 ct. stone, it’s not the same stone.”
Michael Pollack, of Hyde Park Jewelers, in Denver, said, “Instead of getting out the Rap list, instead of talking about Blue Nile, this gives you a whole different language to talk about.”
Rebecca Foerster, head of Rio Tinto’s U.S. office, talked about the appeal of champagne diamonds, noting they had been worn by celebrities like Jennifer Lopez, Hillary Swank, and Cameron Diaz. “They showcase a woman’s individuality,” she said.
She added that participants in focus groups associated champagne diamonds with “status,” “good taste,” and “romance.”