Look Book

44 www.thejewelrybook.com T E C H N O L O G Y R E P O R T V I R T U A L D I A M O N D B O U T I Q U E According to the US Commerce Department, the web accounted for 11.3% of Q3 2016 sales, and Forrester Research predicts online sales revenue will reach $523 billion by 2020. With such impressive e-commerce growth, coupled with greater addiction to instant shopping on smart phones, traditional retail- ers are challenged to maximize creativity and take advantage of every single selling opportunity. How do we keep browsers in the store longer and take advantage of opportunities that arise outside the store? Developing a relationship with a customer is the most effective method of converting browsers into buyers and increasing cus- tomer satisfaction. Digital technology can now engage custom- ers at point-of-sale, improving their experience and lowering their threshold of resistance. Many retailers have I-Pads and touch screens available in-store for sales associates to use for searching additional styles at their fi ngertips, while actively assessing the customer's needs. In the diamond category, new technology like the free Virtual Diamond Boutique™ (Vdb) app offers retailers a fun new way to source diamonds while working with a customer. Vdb allows customers to be a part of the pro- cess, enabling searches within a wide variety of criteria from preferred vendors only and then sharing high defi nition photos and videos of the diamonds that the customer can compare. The visual nature of Vdb makes it an effective tool for educating the customer, as well as the sales associate, in a fun process that prequalifi es the customer and capitalizes on selling opportuni- ties in the moment, all from the palm of the hand. The longer the customer stays in the store, the higher the chances of success and the stronger the relationship becomes. In this very modern and very mobile world, however, not all sales inquiries come in to the store. How can retailers lit- erally think 'outside the box' to gain more potential sales? The mobile nature of an app like Vdb makes it accessible 24/7 on smart phone devices, so that sales associates can cap- ture consumer interest and potential sales anywhere, at any time, lowering the risk of losing opportunities and/or impulse purchases. Imagine a random conversation at a din- ner party with a gentleman wishing to buy his wife a pair of diamond earrings as an anniversary gift. Use Vdb to instant- ly show him matching pairs on a smart phone within his unique criteria (budget, 4cs, etc.) and then follow up by shar- ing the selected stones with the gentleman via email or on social media platforms. Now you've captured the customer's interest and his contact information. He has no need to shop online - you just did it for him. Finding ways to capitalize on every selling opportunity, in or outside the store, is critical for traditional retailers wanting to remain competitive. New technology like Vdb can help. Rather than fearing the digital marketplace – become a part of it. Make your store the hip new place to shop online, with qualifi ed professionals who can easily navigate the way and make the process even easier. The Virtual Diamond Boutique™ app is available for free download by certifi ed trade professionals on the App Store for iPhone and iPad or the Google Play store for Android. The platform is password protected with trade credentials checked prior to account activation. New trade users can register on the app to create a username and password or they can request log-in creden- tials by visiting http://www.vdbapp.com/. Keeping Brick and Mortar Stores Competitive in a Digital World BY TANYA NISGURETSKY, CEO AND CO-FOUNDER OF VIRTUAL DIAMOND BOUTIQUE

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