After a tremendously successful 2016 where we saw the amount of transactions we closed in the 2ct diamond engagement ring market skyrocket we actively started doing market research to check the levels of service and prices other jewellers were offering to the public and overseas buyers (tourists and international inquiries). We have an incredibly high conversion rate… but you can’t possibly land every single transaction in a specific range, can you? And if you do… why?
We just finished up our yearly Engagement Ring Shopper Survey. Participation was excellent, and we've found some interesting shifts in engagement ring shopping psychology. We do have a significant market share (especially in Pretoria) so to keep things objective I eliminated all submissions from email addresses we currently have on record. This includes leads and previous customers.
To ensure our service is top notch I spend about an hour per month on HelloPeter reading what customers of other jewellers are complaining about.
I’m a big fan of the old(?) saying; you get what you pay for.
Buying the cheapest per se is a sure-fire way to get burnt. Luckily, after a few burns most of us start to grasp the concept of value. This price to quality ratio (value) is an invaluable tool when making purchasing decisions.
Shirley will never try to convince you that her R92 000 Valentino Evening Bag was a sensible purchase. But she wasn’t looking for sensible when she casually strolled into Valentino now was she? Some people find the thrill of a luxury purchase to be nothing short of intoxicating. Visit cities like New York and Rome and you’ll find miles of expensive boutiques fueling shopper’s addictions to all things luxurious.