Just a few years ago, many in the wedding ring industry started rapidly heading down the alternative metal wedding ring road. Well, maybe not just RAPIDLY, but at a rate of speed that can not be measured by humans is a better way to describe the path that was taken.
Wedding ring stores pushed aside precious metal wedding rings and offered vast amounts of alternative metal wedding rings because THAT’S WHAT THE CUSTOMER WANTS! With many retailers, there was no discussion; the wedding ring consumer was only going to buy something that is cheap as possible.
Now what? Stores have to make many more sales to make money. Instead of a wedding ring sale being $300-$600, retailers were now making sales less than $200 or sometimes even $100.
I fully understand the popularity of alternative metal wedding rings; I feature them regularly on this blog, but I also highlight wedding rings made in platinum, palladium and gold as well.
Alternative metal wedding rings are probably best bought and sold over the Internet, as many quality websites take orders and then the manufacturer will help fulfill them. Costs can remain low due to less or non-existing stock requirements for the online retailer.
If I had a retail jewelry store, I would have alternative metal wedding rings in stock, but I’d also prominently showcase wedding rings made in platinum, palladium and/or gold*.
Instead of having a “dumbed down” selection, I’d offer wedding ring selection classes and events to help educate consumers about ALL of their choices for wedding rings.
As Americans, we buy nice suits, great cars and beautiful houses, but possibly due to the proliferation of often inaccurate metal information found all over the Internet, many future grooms seem to be settling for the cheapest and less valuable option for their wedding rings.
The sale of a precious metal wedding ring is more profitable to the jewelry store, and that same piece of jewelry has more value to the consumer. Think about it – you don’t see big WE BUY TUNGSTEN/TITANIUM banners on the front of retailers.
I am not suggesting that a jewelry store stock hundreds of rings in precious metals, but a few live samples of classic designs and a good supplier that can supplement whatever else a consumer may want can go a long way. If the relationship is cultivated correctly and trust is built, they will wait a week or two for their wedding ring.
References & Citations
Getting Inspirations And Ideas For Your Diamond Ring – http://beyond4cs.com/2014/11/8-fantastic-sites-for-awe-inspiring-engagement-ring-ideas/
Real Life Photographs Of Ring Images – http://www.ringenvy.com/