Online Buying vs. Brick and Mortar

As the popularity of online shopping is increasing, more and more consumers are trying the convenient services offered by many e-tailers. But is virtual shopping really an easier, overall improvement on face-to-face buying in physical stores? There are several pros and cons for each shopping method to consider, particularly when you’re looking to purchase a diamond for a special occasion.

Advantages and Disadvantages: Pricing

An online store has very low overhead and since there is no need to pay for retail display space, storage costs are negligible or non-existent. Shipping of the product (e.g. diamonds) is often factory direct, which further reduces warehousing costs and eliminates the expense of multiple shipments to various distributors. All these factors create significant savings that can be passed on to the consumer, and which allow even more moderately sized diamond businesses to successfully compete with their much larger, brick and mortar high street competitors.

A brick and mortar store has unavoidable expenses to contend with. A physical location has to be lighted, heated or cooled which creates electrical and gas expenses. Wages, maintenance, and warehousing costs, plus “shrinkage”, e.g. shoplifting, must be accounted for and that too costs the retailer. Stock must be transferred to the shopkeeper before it can be transferred to the consumer. These are all expenses normally avoided by the online stores.

On the other hand, there is the possibility for the brick and mortar retailer to buy products in bulk. That saves, and generally, the bigger the retailer, the bigger the bulk purchases and the larger the bulk purchases, the larger the savings – which can be shared with the final purchaser. With the diamond industry though, every single diamond is different, so bulk buying is less of an advantage when people are looking for unique and very specific choices.

Advantages and Disadvantages: Selection

Online stores tend to specialise in one particular area, and that specialization normally results in great selection in that particular area. They are also more likely to carry scarcer items that do not have a large market share. These retailers are dealing with national and international markets so they are better able to meet even a minimal demand for such merchandise, and provide individually tailored items. This is particularly poignant for diamond buyers; online shopping gives you freedom of scope to design or find the perfect stone at the right price, selected carefully from those advertised. There are of course some items may not be available at any online store because they are not sold online; but this it is much more common to see the phrase “not found in store” and there is generally a lot more availability for specific purchases online.

Brick and mortar locations are much more dependent on local demand so if demand is weak locally, the item you want may not be carried at all. Other items are carried only seasonally, eliminating year round access to them. For cost considerations, retails are also forced to concentrate on best sellers only. When looking for that perfect diamond, although it is great to select a stone with your own eyes and physically touch and inspect them, it is sometimes harder to custom-make a piece or find the right match for what you want within one trip to the mall.

Advantages and Disadvantages: Convenience

What could be handier than shopping from the comfort of your own home? You can avoid crowds, dressing up to go out in the rain, or wasting gas to go searching for a diamond that may or may not be there at all. Online diamond and gem retailers tend to provide comprehensive descriptions of potential purchases that extend well beyond what is printed on packaging in store or that a less than knowledgeable store employee may be able to provide. The chances are you will not even have to pay sales taxes when finalising your purchase.

However, many people like to see and touch their potential diamond buy, particularly if shopping for a special engagement ring or diamond jewellery for a loved one. This is particularly true if you need to gauge the size or check for flaws. This being so, it is possible to negotiate and discuss sizes with an online shop expert, and when it comes to diamonds one has to trust the Certificate approved by renowned adjudicating laboratories such as the Gemological Institute of America (GIA) or American Gemological Society (AGS) which a physical shop should be using also. This means that the judgement in standard and classification of a diamond is applicable for both online companies and bricks and mortar shops, provided they are any good at all.

Both online shops and brick and mortar shops will deliver products; but this is of course less of an issue with diamonds – relatively small items which are not an inconvenience to pick up. There may be considerable costs to deliver such a valuable items, but this may more convenient to the keep the engagement ring or present a secret or to save yourself time.

The Consensus…

Fortunately, warrantees or guarantees, and return policies are provided by both e-retailers and real shops. Remember though that some online stores may be distant overseas companies which could create inconvenience regarding returns or refunds. Equally, be aware that physical stores will have varying refund policies.

As long as they are reputable and offer certified diamonds from trusted grading laboratories, both online retailers and brick and mortar shops are safe and secure to buy from.

Both options can be advantageous, depending on your situation, time and preference. Physical shops offer you real people and experts to talk to, and the chance to see your diamond prior to making the final payment. However, some online jewellers now have showrooms where you can view samples of diamond jewellery before buying. Particularly in respect to diamond, gem and jewellery purchases, it is clear that the same level of expertise, grading systems and choice is available online as it is at a brick and mortar store – but with an unlimited selection , significantly lower prices, and the added convenience of never leaving your seat.

However you decide to do it, happy shopping!