I get it, we are a small local independent jeweler. It’s a bit like being David vs Goliath. Although mall jewelers have spent millions in advertising trying to get you to sing along the tagline to their TV commercials, I think there are a few things you should know. We have listed down five secrets mall jewelers don’t want you to know.
1. You Will Pay More & Get Less
The truth is if you’re shopping at a mall jeweler be prepared to pay more for less.
When you buy an engagement ring at a mall jeweler you’re not just paying for the diamond and the ring. You’re paying for all their 1,500 locations, 18,000 employees, billions of dollars of inventory and millions of dollars in TV advertising. A big part of what you’re paying for is their overhead.
2.Lower Quality Diamond Standards
When it comes to diamond quality most reputable jewelers, use GIA (Gemological Institute of America) or AGS (American Gem Society) diamond certificates. These are considered the highest quality diamond certifications.
Most mall jewelers on the other hand use IGI diamond certificates. Many buyers without knowing may think that an IGI and GIA certification is on the same level, but IGI tends to have much looser standards. An IGI certified diamond is usually 2-3 grades higher than it would have been graded by GIA.
In fact, the largest jewelry insurance underwriter writes:
The most reliable diamond certificates come from the GIA and the AGS…Certificates from any other sources are often questionable and should not be relied upon by insurers.”
Dateline NBC has even done reports on IGI diamonds inflated diamond appraisals.
3. They REALLY Want You to Open a Credit Card?
Mall jewelers have a strict monthly quota for the number of credit card applications they bring in.
There is nothing wrong with store credit cards and financing but when this is your #1 indicator for success you end up pushing customers into financing whether or not they need it or even want it.
At Jensen Jewelers, we believe in doing what’s best for you. Our job is to take care of you the best we can. We won’t push you into a credit card you don’t want, and we certainly won’t make you fill out a credit card application before you even start shopping for an engagement ring (yes, this is something mall jewelers do).
4. They Don’t Have an In-House Goldsmith
It’s not uncommon to need to have work done on your jewelry at some point. One of the most common repairs is needing a ring resized. Let’s face it, having to drop your engagement ring off to get it resized just after having received it isn’t ideal. I mean you want to show it off.
At Jensen Jewelers, we have a master goldsmith that works in-house on all of our customer’s jewelry. This means fast repairs and ring resizing in just an hour or so.
Very few mall jewelers have in-house goldsmiths to work on customers jewelry. Instead, they have to ship your jewelry out to their corporate repair center. If you need repairs on a ring, you bought from a mall jeweler be prepared to wait days or even weeks to get your jewelry back.
5. One-and-Done Sales Approach
No one likes to feel pressured by a salesperson or consistently pushed out of their comfort zone and budget. Sadly, this is what we hear from a lot of customers about their shopping experience at the mall.
But if no one likes to feel pressured, why do resort to these type of sales tactics?
Mall jewelers resort to what we call one-and-done (high-pressure sales) tactics because they know they have ONE CHANCE to make the sale. They know if you leave the store more often than not you are NEVER coming back.
These big-name mall jewelers know that they don’t have the best prices, best selection and that their customer service is lacking. They know that if you leave the store and do any shopping around you will easily find a better alternative and you won’t be coming back to buy your ring.
