Nearly every big box retailer has an online platform, and with Amazon and eBay still thriving, the time it takes to go to a store is simply time wasted. According to The Wall Street Journal, consumers made 51 percent of their purchases online in 2016. It is certainly not a big increase from the 48 percent in 2015, but it is still a clear indicator of shopping trends.
In fact, today roughly 1 in 10 grooms are choosing to purchase their engagement rings online. This has fueled the success of online jewelers, making them stern competition for any storefront. Whether you consider corporate entities like Tiffany’s, or the family owned community jeweler, they simply can’t keep up.
“Retailers are really fighting for those dollars because they are fighting a whole pattern of purchasing,” JBT President and CEO Anthony Capuano told National Jeweler. “You just have to be really good to survive and prosper.” Custom jewelry is still a niche storefronts can benefit from. However, the overall experience of buying in a store may be a thing of the past.