Madestones® in conversation with
Retailers at the Jewellery London Show
Madestones® exhibited for the third time in the IJL September show in London. We observed tremendous progress in awareness and acceptance of laboratory grown diamonds. Most retailers are aware that laboratory grown diamonds exist. They understand that laboratory grown diamonds sold with full disclosure and transparency are a legitimate and profitable product.
A stumbling block for some retailers is how to position laboratory grown diamonds in their stores. The consensus of those jewellers that have had success in marketing both mined and laboratory grown diamonds is to dedicate a small area to laboratory grown. The display could have as few as 5-7 pieces of finished jewellery and some loose diamonds. A small selection is enough to begin a conversation with a client. They all said that it is next to impossible to sell laboratory grown diamonds without a physical display of product. A salesperson with proper information can easily explain the difference between the two types of diamonds and studies have shown that 70-75% of clients react positively to this type of presentation. The same studies point out that after being completely informed of the difference between a mined and laboratory grown diamond a staggering 80% of women are willing to purchase a laboratory grown diamond.
The challenge for retailers is not to give a personal opinion on which diamond is better. Their job is only to offer their customers an informed choice. Retailers who give their clients an informed choice will always be the winner because the consumer can decide themselves based upon their personal preferences. Retailers, at this show, had come to the conclusion that laboratory grown diamonds are a fact of life and are considering ways to integrate them into their sales programs.