Allurez Reports: Online Shopping for Diamond Rings Increased 10% Despite Economy

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Shopping online for diamond rings and other jewelry is on the rise. Even in the current economic situation, there is a 3% increase in the amount people who shop for jewelry across the nation as reported by IDEX Online.

14kt White Gold Diamond Ring

14kt White Gold Diamond Ring

Allurez has seen a steady increase in the amount of diamond rings and other diamond jewelry that is purchased through its site even in tough economic times.

Economic growth is closely correlated with jewelry sales in the US. In fact, the strongest economic factor associated with jewelry sales is Gross Domestic Product (GDP). Allurez outlines reasons that online jewelry sales are strong in comparison to sales associated with brick and mortar jewelry stores even in today's economy.

Lower Costs: Online jewelry retailers don't need to spend money on expensive retail fronts. Their immediate inventory is smaller, which also cuts down on cost. Online retailers will pass on these savings to consumers.

Convenience: Physical locations require time and effort. Many prefer to shop online for jewelry as opposed to fighting crowds in stores.

Comparison Shopping: Consumers have an easier time finding better deals because information related to products are more easily accessible.

New Online Shoppers: Technology is rapidly evolving and computers are becoming more and more accessible. As people gain access to the World Wide Web, they will naturally have access to more online retail sites.

Online retail ranks first over other retail industries in the US, with more than 75% penetration. A rapidly growing market, US online retail is expanding at an impressive rate, despite being hardly a decade old. The International Diamond Exchange Online newsroom reports that retail jewelry sales in general have seen a 3% increase this year. Some analysts estimate that online jewelry retailers have a 33% share in that figure. Allurez itself is expanding at a double digit percentage, thanks to steady sales related to diamond rings and other diamond jewelry.

"Allurez has seen a steady increase in the amount of diamond rings and other diamond jewelry that is purchased through its site even in tough economic times. Generally speaking, the web is one of the last places to take a hit during a recession and the first place people go to save," according to a spokesperson from Allurez.

Allurez is an established designer and retailer that carries loose diamonds, diamond engagement rings and other fine jewelry. They are headquartered in New York, where they have multiple offices. Their mission has been to not only provide customers with high-end jewelry at affordable prices, but to educate the public about the jewelry industry. You can visit them online at http://www.allurez.com.

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