Amazon.com (NASDAQ: AMZN) is seeing a jewel of an increase recently in its online gemstone sales. The world's largest independent retailer said that diamond sales in its Q3 period this year rose more than 75% from the year-ago quarter.Now, that's a shining example of buyers shifting emotional-type purchases to the web. I would have never thought that anyone would buy something as personal as a diamond from a picture on a website, as if they were shoes or underwear, but there you are. In the case of many buyers, bargains and other incentives trump everything else, even when it comes to diamond sales.
Would you buy a diamond from Amazon.com or any other online retailer? The retailer stated that the highest-selling diamond products includes a two-carat pair of black diamond studs, a white gold Journey Curve half-carat pendant and a yellow gold Journey Curve two-carat pendant.
Two-carat diamonds are not exactly cheap, so the retailer apparently has cornered some higher-end gemstone shoppers here. The company also stated that it added 2,269 new styles of diamond jewelry to its online selection during the quarter. Perhaps vast selection is the competitive strategy here? Regardless, customers will buy anything on the web if they are willing to buy two-carat diamonds -- hopefully with decent clarity ratings -- sight unseen.
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