As the Sales Manager for one of the online pearl vendors here, I do see a distinct advantage for our business models in terms of pricing- if the customer has time to shop around for the best price, is willing to take a chance on an unknown and come out on top: with a great deal for a gorgeous product, then we have made a customer for life. The End.

Providing great customer service, fast turn around times in processing orders (getting strands finished, mounting earrings and pendants, etc), being knowledgeable about my product and my industry in particular, are priorities that are NO LESS important online than in a typical B&M enterprise. One of my specialties is creating custom jewelry- how much thought, creativity and reliance on excellent communication skills and empathy do you believe that entails? I find that the vast majority of our customers are greatly comforted by all of these things- and they return to us over and over again. A great business relationship is built on all of these things, and if online vendors are willing to invest time, energy, empathy and creativity into creating long-term relationships, then I see absolutely no reason why we will not become the more efficient retail business model of the future.

However, as a veteran of retail B&M stores, I do think that by customizing your B&M business- by branding yourself, your service, by becoming a fixture in your community and contributing to the life-long memories made by generations of families purchasing keep-sakes, anniversary items, engagement rings and everything in between, you can survive and thrive. Not every customer is price shopping, they are shopping for an experience: they are shopping for a trustworthy, knowledgeable person that will help them feel great about making a memory!

You cannot compare the wide selection of diamonds you have in your store- each with characteristics as unique as a personality, to some disembodied Sri Lankan online cert, no matter the quoted price- not all SI-GH Quality diamonds are the same, that can be said for pearls as well. Being able to hold it in your hand, gaze through the loupe, marvel at this wonder of nature before you, is an amazing advantage for the traditional retail model. A digital picture may speak a thousand words- but what if they’re the wrong ones?? B&M stores are also in the position of being able to let the customer walk out with a fantastic jewelry item that VERY DAY! Talk about efficient! That is one of the biggest hurdles that I have to contend with as an online vendor- the best I'll be able to offer a customer in a rush is- Tomorrow.

It is through creating a niche, and creating relationships that businesses are able to survive. As the world of commerce evolves- free trade, wholesale pricing, reduced overheads, faster communication, faster transactions, comparison shopping, etc, it is more apparent than ever that what lies at the heart of it all is not who has the lowest price, but what it has always been- the ability to build a relationship. The ability to build trust. The ability to connect with people. Business is evolving, but the way that people connect with others will always remain the same.