CXG uncover to present diamonds in retail
CXG, a global leader in consumer insights, performed research across national and regional retailers to uncover how natural diamonds (NDs) and laboratory-grown diamonds (LGDs) are presented in retail settings. The study analyzed how the store environment, merchandising, and interactions with the Sales Advisors contribute to the customer’s education, experience, and confidence to purchase.
Key findings include:
1: It is a concern that sales advisors show little proactivity (less than 40% of interactions) in explaining differences between LGDs and NDs, use a comparative narrative, and show lack of knowledge in using ethical, provenance, and traceability arguments.
2: In fact, only 6% of cases was knowledge shared on the ethical and provenance arguments of natural diamonds! Generally, just half of customers perceived the definition of natural diamonds as clear.
Less than 50% of customers consider the merchandising setup adequate in delineating differences between laboratory-grown diamonds and natural diamonds.
3: However, 78% feel more confident and educated post-store visit.
4: These [diverging] numbers highlight the influence of the sales advisor’s role and the educational opportunity of the interaction.
5: What this all reveals is a significant opportunity to better educate the customer comprehensively and transparently which in turn will increase confidence and purchase intent.
6: There is an impressive 93% correlation between feeling educated and having confidence in the purchase. Education drives sales.