Champagne Diamond Promotions Require Selling Strategy
2002: Champagne Diamond Promotions Will Resolve Profitability Issue
For years now, since the Australian diamond discoveries, Argyle Mines have promoted champagne diamonds in various ways. Now they have launched a complete program to help jewelers to sell—and consumers to understand—champagne diamonds.
A survey by MVI Marketing’s Jewelry Consumer Opinion Council revealed interesting findings: 74 percent of respondents reported familiarity with colored diamonds and 72 percent of respondents believe champagne diamonds’ rarity equals or exceeds colorless diamonds.
Despite high levels of consumer interest and perceived value, a lack of champagne diamond inventory in stores keeps them from buying the product.
Further, 69 percent believe that champagne diamonds are desirable and 79 percent believe champagne diamonds are fashionable.
The research findings confirm, according to Martin Hurwitz, of the Champagne Diamond Center, consumers are willing and able to buy champagne diamonds, and they would buy more if retailers would stock them.
Champagne diamonds should not be sold as a bargain, but as a unique product that consumers are willing to pay for. This idea eliminates the usual profitability problem for retailers. Champagne diamonds allow customers to have big center stones, best set with contrasting colorless diamonds.
The information package, including a video, images, and color scale (C-1 to C-7), can be ordered from www.champagnediamondcenter.com. The site also lists official suppliers, including the Diamonds Registry.