The way in which we buy almost everything has evolved greatly over the years and the engagement ring buying process is no exception.
Whereas the purchase of an engagement ring would have always been performed in a physical store, a huge portion of the market now operates purely online. Buying important, significant and expensive purchases online is no longer seen as the risk that it may have been in the past, and there can be huge advantages in price, convenience and ease for all parties.
When we created MADE Diamonds we decided to operate purely online in order to keep overheads low and create real value in our engagement rings. It's often overlooked just how much the prices of items are inflated by swanky retail premises. When you stop and consider that a significant portion of a product's price exists to pay for the plush retail premises you enter, it begs the question of what you are really paying for. This could never be more prevalent than in the jewellery industry. Us not having the burden of retail premises simply means you're not paying for them!
We realise though that we need to take the risk out of buying something as important and expensive online, which is why we offer a 30 day period with the ring in your hands to make sure it's absolutely perfect for you. Our bespoke pieces on the other hand cannot be returned for obvious reasons but we work with each client individually to ensure that the ring is everything they dreamed of.
The next big change worth noting is that women are often very much part of the buying process. Whereas in the past there would have been no way in hell a woman would have been involved, let a lone in control, of the purchase, this is something we see more and more of. We would estimate that women are involved in the purchase of at least 40% of our rings, and fully in control of the purchase of around 10% of our engagement rings. After all it makes a lot of sense to consult your significant other on a decision regarding a piece of jewellery that will be worn by her for the rest of her life! It's a factor that we feel often benefits our business because it is often the woman in the relationship who may have the stronger concerns regarding the ethical integrity of a natural diamond and seek an alternative. It doesn't have to be the case that this concept takes the romanticism and surprise out of a proposal though, many couples may purchase the ring together, knowing that they will be engaged, but then the gentleman will proceed to plan the proposal for sometime in the future as a surprise.
So whilst the procurement of an engagement ring has evolved, there are some major benefits to be obtained by the changes, and it seems more and more people every day are embracing these new possibilities.
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