Every business needs a clear vision and mission. Our mission was to disrupt with innovation, focusing on our client’s needs and success by ultimately changing how jewellers buy diamonds and jewellery. Our vision is to transform our local industry from an age-old analogue environment to a new digital landscape. To achieve this, we developed and brought to market Australia’s first-ever local diamond marketplace, JC Jewels.
The world around us has monumentally changed. Like it or not, the jewellery industry has to follow suit. Unfortunately, with change comes discomfort, but the rewards bring efficiencies and success to those who engage. In 2019, we took the plunge, blocked all fears of the unknown and focussed on the commercial gain for all. We began the big transition from our traditional ways of the past by investing in the longevity and future of our clients—a risky call at the time. We commenced to bring the first ever B2B Australian-owned local diamond marketplace to evolve our clients to the next level.
Most industries have moved to digital and more sustainable game-changing models. More importantly, our clients are closing more sales that are quicker with higher margins and increased conversion rates with less effort due to efficient technology. Our diamond marketplace presents hundreds of thousands of certified diamonds on our clients’ screens, all with 360-degree videos, clearer than traditional 10x magnification. Our platform empowers our clients to become diamond merchants, meaning they see all the goods on the table—not merely the goods traditional diamond merchants place in their local stock or the goods they choose to buy that make them money.
An important factor with our new model versus the old is that benefits our clients. Essentially, we put all the goods on the table. We bring you the global diamond supply, empower you to grab the bargains, and ensure you make more money and grasp the best pick on every sale—every time you log in. We then facilitate the gruelling logistics process with no smoke, mirrors or minimum purchases. Our clients are making money with this secret formula that improves their game.
Jewellers have held substantial inventories of diamond stock, demanding an extensive capital investment, delivering slow stock turn, and endlessly impacting cash flow. It frequently results in less margin or occasionally a loss at the time of sale due to exposure to pricing fluctuations and the need to clear aged stock. By buying on demand, in real-time, the JC Jewels diamond marketplace removes the stress and pressures related to warehousing goods. The best part is the positive impact on cash flow, solving one major business challenge.
Additionally, our diamond marketplace is a platform where our clients can buy goods directly from the source with minimal middleman margins, a broader range, and more choice of goods, allowing jewellers to close more sales. I am humbled to see we are onto something, or perhaps in our local market, we are the catalysts to one of the most outstanding changes our local industry has seen in decades as we move into this new phase. It is fast becoming the new norm across the globe. Have you made the change?
This article is not a pitch. It’s the reality of where our industry is heading. I am not naive. This shift will eliminate some middlemen businesses, but change is inevitable. At JC Jewels, our in-house tech team updates our portal daily as our clients share feedback. This month, we launched our new jewellery range with over 1500 SKUs and assisted our clients in holding less finished jewellery inventory, as they have become accustomed to their loose diamonds.
Changing how you order diamonds and fine jewellery is now in full swing. I want to thank our clients for embracing this change with Australia’s first-ever local B2B diamond marketplace, believing in my vision to modernise our businesses, and taking us to the next level. We always want your feedback to help drive your sales and make it easier for you to achieve the best result in the fastest time on every opportunity.
Craig Miller
CEO, JC Jewels
jcjewels.com.au
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