Unique Product Helps Web Store Succeed

In down economic times, providing value helps a business survive.  Sometimes luck figures into it too, and for American Diamond Importers, an unexpected discovery couldn't have come at a better time.

“Last year I was in Brazil 400 feet underground searching for emeralds when I saw a yellow band in the wall,” says owner Patrick Coughlin.  "It turns out that we had come across emeralds that had turned yellow from the iron in the ground."  Yellow emeralds are extremely rare, so Patrick trademarked them, and started selling them at his brick & mortar and on his web store Yellow Emerald.   He figured, “In this economy, people are going for deals." 

One might wonder what rare gems have to do with a “deal,” but yellow emeralds are actually one-tenth the price of green emeralds.  Because of their price, beauty and uniqueness, they’ve become the cornerstone of ADI’s business at a time when people aren’t buying as much jewelry.  “In the last six months, we’ve sold more emeralds in our store than all the other gemstones combined.  You can get a beautiful three-carat yellow emerald for $500.”

The price has allowed Patrick to market the yellow emerald in creative ways.  “You can buy an engagement ring without a center stone for about $1000, but you can add a yellow emerald to it for about the same price.  When customers buy a yellow emerald, I promise to buy it back at any time at full price if they want to replace it with a diamond.”  He’s also creating a line of $500 promise rings so that men can give one to their girlfriends and then return it for a diamond ring when they’re ready to get engaged.  The exchange program is taking off.  “One couple didn’t have money for a $5,000 engagement ring, so they spent $1,200 on a diamond and emerald ring.  The woman showed it off to her friends, and then they started coming in.” 

Having a unique product has also helped ADI drive traffic online.  “It’s amazing how many hits we're getting now.  We’re at the top of the natural search results.  With all the jewelry stores out there, it’s hard to get noticed, but if you find a niche product, it makes a world of difference.”

Comments

[rare gems]

Hi
Interesting article on the rare colour of emerald. I love to read about rare and unusual gemstones.