member spotlight virtualdiamondboutique
Jewelers of America Supplier Member Virtual Diamond Boutique is a tool for jewelry industry wholesalers and retailers -- anyone with jewelry industry credentials who wants to buy or sell gemstones. The company is helping jewelers embrace the digital era as they face challenges in the diamond marketplace. CEO & Co-Founder Tanya Nisguretsky and Operations Manager Holly Mui walked us through the Virtual Diamond Boutique app and discussed how the diamond market is changing and exciting new developments with their revolutionary system.

How does the Virtual Diamond Boutique work?

Virtual Diamond Boutique™ (VDB) is an international B2B trading network for visually sourcing diamonds that utilizes mobile app technology to enable retailers and wholesalers to search for diamonds 24/7. High-definition photographs and videos of each diamond create a beautiful and fun interactive user experience. A customizable search allows retailers to pinpoint their searches by any of the 4C's, pricing options and specific vendor partners -- effectively pre-qualifying customers before requesting stones on memo. Retail users can also use the platform to virtually enhance their inventory, allow inventory sharing among stores within a retail chain. It becomes an effective tool for visually engaging customers or training new sales associates. Through showcasing their merchandise on VDB, vendors can tap into fresh international markets, which in turn will increase sales and generate new clientele.

The app version is available for free on the App Store for iPhone and iPad or the Google Play store for Android whereas the desktop version is available for free at www.getvdb.com.

What retail jewelry challenges does VDB answer?

In today’s market, retailers face increasing challenges from the digital world. Foot traffic is down as more and more consumers are shopping online on either their mobile devices or with e-tailers. The mobile nature of the Virtual Diamond Boutique app allows retailers and their sales associates to capture customer interest from anywhere, even outside the store, 24/7 and never miss a selling opportunity. With less foot traffic in the store, every selling opportunity becomes all the more critical. For example, with the mobile app available to sales associates, they can be at a dinner, a party, or even on holiday and still have the ability to show and sell diamonds anywhere.

Virtual Diamond Boutique offers a compilation of unique and unprecedented features that keeps customers engaged and make them feel as though they are part of the process. Visually searching on the VDB platform is interactive and fun for modern, tech savvy consumers, which in turn keeps the customer in the store and they do not walk out if the retailer does not have the diamond they are looking for. Sales associates are able to located a potential stone and request it straight from the platform thereby converting more browsers or shoppers into actual buyers.

What changes have you seen in the diamond market?

Socio-cultural patterns in the digital world have significantly impacted foot traffic at retail stores. With fewer customers coming in the store, it becomes all the more important for retailers to be able to capture sales opportunities outside of the store. If customers are not coming to you, then you have to go out and get them. Virtual Diamond Boutique enables retail sales associates to do just that, all while customizing the experience to ensure that only goods from preferred vendors are ever shown to the customer.

Another change in this fast-paced modern world is the average consumer’s attention span and the increase in sales losses due to lack of inventory or speed of delivery. With a virtual tool that allows sales associates to pre-sell the stone, retailers can reduce risk and shipping costs, all the while keeping the customer delighted and informed.

Inventory management in a highly customized world is also critical. Customers are spoiled with so many options, particularly with online e-tailers. VDB virtually enhances inventory and engages the user, giving customers a unique personalize experience while making them feel like they contributed to the search.
logo virtualdiamondboutique

What sets your company apart?

Unlike our competitors, Virtual Diamond Boutique is free for retailers and is easy to use both in front of a customer and back in the buying office. With three levels of usage, sales associates can switch between pricing modes allowing them to view prices either at their cost to purchase or with a custom markup to display to their client. The time-saving features like automatic stone matching, saved collections and favorites for each client, the ability to follow up with customers via email or social media straight from the platform, and back-end customization are unique to VDB. 

Most importantly, VDB is not only a diamond sourcing platform. It is also an effective tool for engaging customers and training new sales associates. There are so many benefits that VDB becomes a terrific gift to modern retailers as they look for more and more ways to connect with today’s tech savvy consumers. Training videos are available on the Virtual Diamond Boutique™ website, www.vdbapp.com.

What upcoming projects are you excited about?

We are very excited to announce that we are about to launch gemstones within the Virtual Diamond Boutique platform! VDB will include color gemstones and the ability to source and match precious gemstones by all of the same search criteria – carat, color, cut, budget, etc. Our clients will be able to maneuver between both platforms with just a simple click of the button. With this, our all-inclusive platform will revolutionize the way the industry searches for colored gemstones.

What questions do you get asked most by jewelers?

Most retailers want to understand Virtual Diamond Boutique’s customization tools and how they can utilize the back-end features so that their sales associates will only feature goods from their preferred vendors. Retailers also ask about how they can use their logo in the VDB brand circle in order to really brand their stone offerings. Some retailers are also interested in whether they can specify a markup that they designate beforehand which the platform does allow. Overall, our clients are inquiring about customize features and so far Virtual Diamond Boutique has been able to accommodate everyone.

Get to know more about Virtual Diamond Boutique here.
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