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 …
Duvall O'Steenis an independent communications strategist and senior consultant for the Luxury Brand Group.
Jen Cullen Williamsis an independent communications strategist and senior consultant for the Luxury Brand Group.

The Latest

Victorian Burmese sapphire and diamond brooch
AuctionsApr 04, 2025
25-Carat Burmese Sapphire Brooch Sells for $101K

A pink topaz Belle Époque pendant-brooch and a Victorian Egyptian Revival choker were also highlights at a recent Anderson & Garland sale.

Mason Kay International Jade Summit 2025 Graphic
SourcingApr 04, 2025
Mason-Kay Jade to Hold Inaugural International Jade Summit

The event, which will co-locate with the Monterey Bay Jade Festival, will bring education sessions focused on jade to the United States.

Heather B. Moore Lily of the Valley Oval Charm
CollectionsApr 04, 2025
Piece of the Week: Heather B. Moore’s ‘Lily of the Valley’ Charm

The charm is a celebration of springtime as April showers bring May flowers with the piece’s cluster of diamond raindrops.

bench jeweler 1872x1052.png
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They Deserve

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

Stock image of people shopping in a mall
SurveysApr 03, 2025
2025 Retail Sales to Grow More Slowly Amid ‘Uncertainty,’ Says NRF

The National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.

Weekly QuizApr 03, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Tallulah Willis’ Engagement Ring
TrendsApr 03, 2025
Tallulah Willis Imbues Antique Engagement Ring With Magic

The 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.

158.2-carat yellow diamond from Diavik
SourcingApr 03, 2025
Canadian Mine Produces 158-Carat Yellow Diamond

Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Buccellati Naturalia exhibition
CollectionsApr 03, 2025
Buccellati to Open Immersive Exhibition in Milan

The multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.

Jewelers of America logo
Policies & IssuesApr 03, 2025
Jewelers of America to Hold Webinar on Tariffs

The virtual event will take place April 7 at 3 p.m.

Bea Bongiasca Animali Tarallo Collection Royal Blue Tang Fish “Dory”
CollectionsApr 02, 2025
Bea Bongiasca’s ‘Tarallo’ Collection Expansion Is a Zoo

The pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.

Neiman Marcus Downtown Dallas store
MajorsApr 02, 2025
Neiman Marcus’ Dallas Flagship Will Remain Open, For Now

Parent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.

Natural color diamonds on display at Smithsonian National Museum of History
SourcingApr 02, 2025
Winston’s Collection of Natural Color Diamonds Now on Display in D.C.

Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.

Punchmark
Events & AwardsApr 02, 2025
Punchmark to Host Client Workshop

The educational event will take place in Charlotte, North Carolina, this May.

Bergman Jewelers family
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 Years

The independent jeweler first opened its doors in 1888.

QVC Group Inc. logo
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

Coconut Grove Jewelry & Watch Show
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in Florida

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

The Jewelry Symposium (TJS)
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor Shortage

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

Peanuts x Monica Rich Kosann Collection Bracelets
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry Collection

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Graphic for What Do We Mean When We Say “Recycled” Gold webinar
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Mindi Mond Clarity Earrings
TrendsMar 31, 2025
Amanda’s Style File: Dripping in Diamonds

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

Lashbrook ring
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With Acquisition

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

Bulgari and LVMH Watches CEO Jean-Christophe Babin
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH Watches

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Surveillance footage of robbery
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry Store

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Nephrite and Jadeite by Heinrich Fischer, Richard W. Hughes
SourcingMar 28, 2025
19th-Century Jade Book Now Available in English

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

LÖF The Valentine Ring
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ Ring

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

Eggs on a shelf
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ Outlook

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

×

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