RapNet has released a new platform, to make your online diamond trading more secure, efficient and user-friendly. Find out how the new platform will help you trade diamonds better.
Topics: Product Updates
When a business owner gets to the point where their current business processes are getting increasingly complex and harder to track, it’s usually time for a change. For some companies, this change means that Excel spreadsheets are saved and put aside, and the data is imported to a system that can automate most of the processes that have been done manually in the past. Other companies seek to replace their current legacy system due to its lack of functionalities, lack of support, or for other reasons.
One of the first questions that comes up is: what kind of automation software can move my company to the next level? Many other questions follow. Should I choose a cloud-based, or an installed solution? Cloud options are not suitable for every organization. Generic software or jewelry specific software? You will find my answer at the end of this article.
In this article, I would like to summarize the software solutions that are aimed to help different segments of this industry.
Automated vs. manual tracking: Choose the right software and grow your jewelry business.
Understanding cut grades allows a retailer to make informed decisions when purchasing diamonds and therefore buy better. It also allows a retailer to explain the cut grade of a diamond to a client in an authoritative manner.
Grading laboratories have differing criteria for cut grades, however there is commonality in reporting as far as cut grading is concerned. There are three main factors determining the cut grade of a diamond, namely:
Let’s face it, everyone wants to master this advertising medium that is all-consuming. And for most, that is simply not attainable. You could devote every waking hour to keeping up on the latest trends (which can literally change weekly). And, I’m quite sure that’s not the best use of any business owner’s time. Truth be told, it’s so very new, it’s hard to call anyone a true “expert”. The problem with hiring a digital marketing company is that you don’t know enough about marketing to assess how they are performing. At the very least though, you should know the basics of digital marketing.
When trading diamonds online, it is vital to protect yourself from thieves and scammers. RapNet addressed the issue at this year's JCK Las Vegas by hosting a panel discussion on trading safely online.
Every facet on a diamond fulfills a specific function. The crown facets are the ‘windows’ of the diamond which let light enter and exit a diamond. The pavilion facets are the ‘work horses’ that reflect light back through the crown facets. It is important that facets be placed in the correct positions and on the correct angles to perform their task effectively. The crown and pavilion facets have to line up perfectly. Also, all the facets have to be polished, so that they are free of any polish lines, abrasions or other surface anomalies that could compromise light reflection. After all, any diamond is only as good as its worst facet.
Topics: Diamond Trade
We’re only a few months into the new year. A clean slate. So there couldn’t be a better time to take a hard look at who you are as a company and who you want to be. And in marketing, who you want to be generally has something to do with who you want to see walking in your store. In other words…your target market. Many retailers are looking to become a bigger bridal store. Others are venturing into more custom or estate. If it’s changed over the course of many years, it’s time to look at everything you do, from the inventory you carry to the staff representing you and yes, to your marketing. That begins with your corporate logo.
Topics: Retail Marketing
The dynamic between the customer and a company is delicate. When a company evolves, customers must learn to adapt to its new ways. Similarly, when customer patterns change, the market needs to be ready and willing to tend to their needs. If either party remains static, the healthy dynamic gets lost.
Trading online has many great advantages. It’s easy, efficient and cost effective and opens you up to a world of diamonds and inventory which would otherwise be difficult to access. However, as with all business matters where money and high value items change hands, you must be sure to trade smart in order to avoid falling victim to would-be fraudsters.
The diamond and gemstone industry is somewhat of an enigma. On one hand it is all about keeping up with the latest fashions and trends, yet on the other hand, its product is stones that have been on this planet since ancient times.
While diamonds, sapphires, emeralds, rubies and the various semi-precious gemstones have been worn and appreciated by different civilizations for centuries upon centuries, now ancient natural fancy color diamonds are coming into demand. So much so that many of the biggest jewelry companies, like Zales, Tiffany & Co., and Blue Nile have started heavily increasing their yellow diamond collections over the past year.