Columnists

Creative Connecting: The Digital Sourcing Revolution

ColumnistsMar 01, 2022

Creative Connecting: The Digital Sourcing Revolution

Duvall O’Steen and Jen Cullen Williams share how jewelers can connect with new suppliers in virtual marketplaces.

2021_JCW-Duvall-Header.jpg
Duvall O’Steen, left, and Jen Cullen Williams are independent communications strategists and senior consultants for the Luxury Brand Group. They can be reached at DuvallOsteenNYC@gmail.com or Jen@JenCullenWilliams.com.
Modern technology has enabled a revolution in business-to-business sourcing and merchandising.

Digital marketplaces have proven their relevance in the fashion industry with platforms like JOOR and NuOrder assisting brands and retailers by streamlining inventory replenishment, educating the sales force, and enhancing sales with easy and efficient merchandise searching.

The jewelry industry is also creating such tech tools, designed specifically for jewelers.

While nothing can replace the vital and important role of trade shows, in-person events only happen at certain times of the year.

Digital sourcing, on the other hand, is available year-round, providing additional sales opportunities and inventory enhancements on an ongoing basis, especially useful with continued supply chain challenges.

There are many digital B2B sourcing platforms to explore. Here we list a few and highlight those with special tools or functionality that helps meet your inventory needs on-demand, 24/7.

But first, we’ll highlight the advantages of using these platforms, as well as a few cautionary pointers to keep in mind.

Benefits of Digital Sourcing

1. Never Miss an Opportunity
For suppliers, listing merchandise on digital platforms is like having a year-round trade show, making your products available globally, 24/7, to every retail buyer who uses the platform.

For retailers, digital marketplaces can create sales even when inventory is low or when customers have special requests that are not in line with your normal merchandising strategy.

As an example, if a retailer does not carry a specific type of diamond or only carries a minimal inventory of lab-grown diamonds, digital sourcing can help them respond to a customer request almost instantly.

Also, if a sales associate is out of the store and encounters someone seeking advice for a significant purchase, some platforms’ digital tools can be used on the spot from a smart device in the palm of the hand to turn that inquiry into a sale.

2. Data Sharing Leads to Enhanced Merchandising
The absence of trade shows for most of 2020 certainly amplified the need for digital solutions.

According to Sherry Smith, director of business development for The Edge Retail Academy, “We found more suppliers and retailers looking toward data and online tools during the pandemic.”

The Edge offers inventory management systems that many vendors use to track sell-through success and better service their retailers by replenishing fast-selling inventory more quickly.

“Some vendors took [these advantages] to a different level by putting retailers on automated replenishment,” said Smith. “One vendor analyzed the data and found that the retailers who were on an automated replenishment plan performed 39 percent better than those that weren’t.”

3. Time-Saving Clienteling
Digital sourcing efficiently allows retailers to prepare for in-person buying by researching new brands, previewing collections, and learning terms and conditions before making appointments in-store or at trade show events.

According to Tanya Nisguretsky, CEO and co-founder of Virtual Diamond Boutique (VDB), digital sourcing also saves time as a tool for clienteling.

“A platform like VDB, which was designed for use with the end consumer, saves both time and money,” she said.

“The consumer-friendly user interface helps retailers to pre-qualify the customer, increasing efficiency and profits by pinpointing the exact item the client wants ahead of time, therefore cutting down on shipping costs and delays, and creating more access beyond the few suppliers you normally do business with.”

Cautions of Digital Sourcing

1. Transparency
Some buyers are reluctant to utilize modern sourcing technology because of their comfort level with long-term relationships and trusted suppliers. But many of the industry’s leading technology experts are working toward building more secure and transparent platforms.

As an example, VDB confirmed it is currently developing a groundbreaking new collaboration with a third-party trade organization to improve transparency and trust among its members, ensuring a more secure environment where buyers and sellers can have more information about each other readily accessible.

Marianne Fisher, co-founder and managing director of the Jewelers Circle added, “Check the industry associations and partnerships that a platform is affiliated with or endorsed by, and always ask about their vetting process for allowing buyers and sellers onto the platform.”

2. Availability
Nisguretsky warns that, unlike physical in-person buying, there is no 100 percent guarantee that items you are looking at on a digital marketplace are available.

Inventory is changing constantly and the back-end programming updates regularly, but occasionally, you might still see an item that is no longer available.

“We suggest buyers or sales staff always manage the customer’s expectations and always reconfirm with the supplier that the desired item is available.”

3. Returns/Shipping
Like all orders, make sure the vendor you are ordering from has an acceptable return policy, as well as adequate shipping insurance and clear language about responsibility for any goods lost en route.

Fisher suggested, “When doing business and before transacting with new vendors, always review their terms and conditions and use resources like a JBT rating, like you would at an in-person trade show.”

Digital Sourcing Platforms for Jewelers

Natural & Lab-Grown Diamonds
Searching for diamonds has never been easier or more efficient, thanks to apps and platforms like VDB, IDEX Mobile, RapNet and Polygon.

Available as apps for smart devices, these platforms connect jewelers looking to locate specific types of diamonds, including lab grown.

Most of the diamonds listed have high-resolution photos, grading reports, and details listed on the app.

VDB, the largest global source for lab-grown diamonds, also popularized the use of high-resolution video of all its products, as videos often show a diamond’s brilliance and cut better than a still photo and are more exciting for the end consumer.

Many of these platforms have options for immediate ordering and a few offer in-app messaging or external messaging through email, text, social media, or WhatsApp.

Finished Designer & Vintage Jewelry, Watches, and Colored Gemstones
There are several B2B platforms that provide opportunities for souring fine jewelry, watches, designer jewelry, vintage, and antique jewelry, as well as colored gemstones from mobile, tablet, or desktop.

The Jewelers Source by JCK is a marketplace for the jewelry industry for sourcing, product discovery, and virtual meetings for designer and private label jewelry, powered by BOSS Logics technology.

With Jewelers Source, jewelry professionals can browse online “showrooms” and meet with the industry’s top vendors and suppliers year-round in high-definition meetings.

Another global online platform, the Jewelers Circle, specializes in trade-only sourcing of rare and exquisite high-end vintage and estate jewelry, designer and signed jewelry, timepieces, natural diamonds and colored gemstones, and other antique collectibles.

Renowned vintage dealers sell one-of-a-kind and historic pieces from design houses such as Tiffany & Co., Cartier, Boucheron, Bulgari, JAR and more on Jewelers Circle.

In addition, the platform offers free educational webinars and a “Meet the Dealers” video series to teach about rare pieces and dealers on the platform.

For those seeking colored gemstones and jewelry, Gembridge offers access to top colored stone suppliers and jewelry featuring colored gemstones worldwide. VDB also offers the gamut of gemstones in all colors and shapes on its platform. 

Each B2B sourcing platform offers a wide assortment of products and has its own unique functionalities and features. Most offer free demos to see what will be most useful to your business.  

In today’s world, there is no need to ever miss a sale because you do not have something in stock to show your customer. Digital sourcing is a way to enhance your inventory and purchasing, as well as to discover or make new connections to better serve your end client. 

 Related stories will be right here …

The Latest

GIA iD100® Technology
Supplier BulletinJul 03, 2025
Protect Your Customers and Your Business

Sponsored by the Gemological Institute of America

Madison Keys in Brilliant Earth campaign
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New Ambassador

The 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.

Muse Nordstrom shop-in-shop
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry Hall

The West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Shree Ramkrishna Exports
SourcingJul 03, 2025
SRK Announces Its Natural Diamonds Are Now Carbon-Negative

This past year, the manufacturer said it recorded below-zero emissions per carat of natural diamond.

Weekly QuizJul 02, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Yeprem Golden Strada Statement Necklace
CollectionsJul 03, 2025
Piece of the Week: A Firework of Diamonds From Yeprem

The brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.

Stock image of police cars with their lights on
CrimeJul 03, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in Burglaries

JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Jewelers of America logo with meetup, State of the Majors, giveaway and massages
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Exterior and entryway of Boucheron’s Los Angeles Flagship
MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast Flagship

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

Exterior of Marco Bicego Milan Flagship
MajorsJul 02, 2025
Marco Bicego Opens Milan Flagship

The new location continues the brand’s celebration of its 25th anniversary.

Chrono24 Time Is Our Thing campaign image
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New Campaign

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

Bernadette Mack
SourcingJul 02, 2025
Bernadette Mack Joins Gem Legacy as Executive Director

She will oversee strategic planning, fundraising, industry partnerships, and the launch of the Gem Legacy Campus in Tanzania.

Counterfeit Pandora jewelry in bags and boxes
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry Network

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.

Cast Issa Rae
MajorsJul 01, 2025
Cast Closes Business, Plans for Relaunch

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

Eve Goldberg, Matthew Denatale, Willie Lopez, Benjamin Goldberg
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship Program

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

Elie Hannoush
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

Claire’s store
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report Says

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Mindi Mond Spike Earrings
TrendsJul 01, 2025
Amanda’s Style File: Red Hot Rubies

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

The Story of Everything Campaign, Toadstool Mushroom and Cosmic Egg
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

Morgan Keefe
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education Scholarship

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

The Jewelry Book
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry

“The Jewelry Book” comes out this September.

Gemist
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech Platform

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Jeff Preolo, David Stout, Levi Higgs, David Benavides
IndependentsJun 27, 2025
David Webb Announces New Hires, Promotions

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

Blake Graham and Jessica Kohoutek
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner

AGS also named the recipient of its “Women in Leadership” scholarship.

Buddha Mama Monstera Ring
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap Ring

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Cashier handing Rocksbox bag to customer
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers Downsizes

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

Penny Ruston
IndependentsJun 26, 2025
Penny Ruston Dies at 80

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy