Lab-grown diamonds differ from mined diamonds in their origin. Unlike cubic zirconia, they aren't an imitation — they’re real diamonds that have gained popularity over the last decade. They share the same chemical, physical, and optical properties as their naturally-sourced cousin — and require special equipment to even tell the difference.
If you’re a jewelry store owner who is wary of selling lab-grown diamonds due to the stigma of their perceived inferiority and authenticity, you’d be surprised at how much the negative perception has diminished. In fact, if you’re not selling lab-grown diamonds, you’re missing out on a massive customer base.
The purpose of this blog is to educate you on how lab-grown diamonds are made, dig into their rise in popularity, and provide a step-by-step guide on how to sell lab-grown diamonds in retail.
Lab-grown diamonds are real diamonds. They are graded using the 4 Cs — cut, color, clarity, and carat. Where natural diamonds are formed deep within the earth over millions of years, lab-grown diamonds, as the name implies, are created in a lab where natural conditions can be simulated.
Lab-grown diamonds are formed using two processes: high pressure, high temperature (HPHT), or Chemical Vapor Deposition (CVD). HPHT mimics the Earth’s natural processes, exposing a diamond “seed” to intense pressure and heat, while CVD is sort of like 3D printing with plasma.
For an in-depth view on how they’re formed, there are some great videos on YouTube, including Making Revealed.
The first lab-grown diamonds hit the market in the 1970s, but they struggled to gain popularity. There are many who believe that diamonds grown naturally over millions of years are more valuable and unique because of their history.
But don't count out lab-grown bling. It has a many key advantages:
Now that you have a better understanding of the pros of lab-created stones, here’s a step-by-guide on how to sell them in your jewelry store.
Selling lab-grown diamonds is not the same as selling natural stones. Remember, diamond jewelry is a big purchase for most consumers. They put a lot of thought and research into such an expensive investment — and they’re trusting you to put their mind (and wallet) at ease and get them over the finish line.
Be sure to follow these steps when selling lab-grown stones in your jewelry store.
Before you start selling, you need to know who you’re selling to. Identify your target market: Are they millennials, eco-conscious consumers, or budget-savvy shoppers?
The price for stones can fluctuate greatly, so look into current market trends to understand the demand for lab-grown diamonds. Check out what your competitors are offering and find your unique angle.
Related Read: [REVEALED] Finding Your Target Market for the Jewelry Industry
Quality is everything when it comes to diamonds. Partner with reputable suppliers who can provide high-quality, certified lab-grown diamonds. These steps can help you look for reputable suppliers.
What makes your lab-grown diamonds special? Whether it’s competitive pricing, unique designs, or a strong commitment to sustainability, your USP will set you apart from the competition.
Craft a compelling brand story that resonates with your audience. Highlight what makes your diamonds the best choice, and why consumers should choose your jewelry store for their special occasions and gifts to loved ones.
Even if you opt not to sell online, it’s still important to have an online presence. Websites are a marketing asset that bring you visibility and inform customers about your business.
You don’t have to be a professional web developer to create a website that’s as stunning as your jewels. Using a solution like Jewel360, you can take advantage of its user-friendly website design to build an online presence that matches your brand. Other benefits include:
Related Read: How To Create a Jewelry Website (& Boost Profits)
Once you’ve built your website, it’s time to spread the word about your lab-grown diamonds with effective marketing strategies.
Use social media platforms to engage with potential customers and build a following. Collaborate with influencers and jewelry bloggers to reach a wider audience. Offer promotions, discounts, and referral programs to attract and retain customers.
You can use social media to educate your customers on the differences between lab-grown and mined stones, show off the jewelry you have, and give customers a more personal view of you and your jewelry business.
Happy customers are repeat customers. Offer prompt and helpful customer support, including flexible return and exchange policies. Customization options help make each purchase special.
Ongoing perks, such as free engagement ring and wedding band cleanings for life, are a great way to close deals and keep customers happy as well.
Many people are still learning about lab-grown diamonds, so educating your customers can be powerful. Create informative content for your website like blog posts, videos, and FAQs that explain the benefits and value of lab-grown diamonds. Address common misconceptions and concerns. This will build trust and confidence in your products.
Remember, honesty is the best policy! Let customers know the pros and cons to buying lab-grown diamonds. For example, most jewelers accept returns, but will not buy second hand lab-grown stones. When you’re upfront with your customers about the good and the bad, they’re more likely to become repeat customers based on your honesty.
Train your team to be able to educate customers on lab-grown diamonds and answer any questions that arise as well. They should be confident in helping potential buyers make their final decision.
The jewelry market is always evolving, so stay on top of trends and continuously look for ways to improve your retail store.
Track key metrics like online and in-store sales, customer feedback, and website traffic. Use this data to refine your strategies and make informed decisions. Staying adaptable and proactive will help you sell more bling in the long run.
Finally, if selling lab-grown diamonds is a new offering for you, be sure to monitor those sales specifically. A modern jewelry POS solution can help you filter down to specific product sales, solidifying the decision to keep selling lab diamonds or cut ties moving forward.
So there you have it: A solid roadmap for selling lab-grown diamonds and making your mark in this exciting market. By understanding your target audience, finding reliable suppliers, and leveraging a powerful online presence, you're setting your jewelry store up for success. Remember, it's all about showcasing the unique benefits of lab-grown diamonds, providing exceptional customer service, and staying ahead of trends.
If you’re ready to dive in, Jewel360 is here to help you shine bright in the world of selling lab-grown diamonds. Jewel360 can help you build your website, manage complex inventory, connect with customers, manage custom orders and repairs, and protect sensitive customer data while accepting all payment types.
Schedule a free demo to learn how Jewel360 can help your business enter the lab-grown diamond market.