A symposium on e-commerce was held on Tuesday at the Israel Precious Stones and Diamonds Exchange in the presence of IDE President Yoram Dvash, IDI Chairman Shmuel Schnitzer, Attorney Eli Shimoni and the staff of the IDI's Get-Diamonds trading system. The seminar dealt with several issues including choosing marketing channels, the optimal way to present diamonds, reliability, visibility, legal aspects and more.
IDI Chairman, Shmuel Schnitzer, said, "The IDI invests heavily in Internet marketing, in the knowledge that is the marketing technique of tomorrow. Even now, with the IDI's budget being small, we have not cut back in this area. We insist that everything about in the area of technology is not harmed: not Get-Diamonds, B2B marketing, or the James Allen B2C marketing project."
Attorney Eli Shimony, who lectured at the seminar, said: "The key to success in online sales sites is having a critical mass. You have to have enough supply, and a range of supply. When a website has a great variety of products, it is impossible to ignore it and you can sell a great deal on it. Global online trade is growing at 15% annually, and there's room for more development. One thing to remember in selling diamonds and jewelry is to maintain confidence, particularly when it comes to an expensive product like diamonds. You, the merchants, need to know what clients want, and adjust your product accordingly.
"Another important thing to note is the visibility of the product, especially when it comes to diamonds and jewelry. Whether the customer is a merchant or customer, it is important that the image of the diamond be good and professional. Ultimately, your product should look good. Traders also are people, and people buy with their eyes. Online trading requires a large initial investment, but compared to opening a physical store this is a very small investment. Online trading also requires patience. Even sites like Amazon and eBay started small and grew and came to what they are today."
