Introducing TradersDiamonds.com.

TradersDiamonds.com is the second e-commerce website from CaratLane Trading Pvt Ltd. This comes 8 months after the launch of CaratLane.com, which was India’s first consumer website dealing in loose diamonds and diamond jewellery. The consumer business is up and running and we have managed to change the diamond buying ways of many Indians and some foreigners too. With TradersDiamonds.com, we now plan to change how the diamond trade - the jewellers, brokers and wholesalers go about the business of procuring loose diamonds.

Today, trade members work directly or indirectly with a handful of diamond manufacturers. The diamond options for the jeweller (who is the end customer in the trade business) are limited to the combined inventory of these manufacturers. His price depends on the number of intermediaries between him and the diamond manufacturer. Usually, there are at least two middle-men which results in two more levels of price mark-ups. Procurement involves a lot of back and forth between the buyer and his different sellers before the order can be placed with one of them. This task is cumbersome and time taking.

Life can change for the jeweller with TradersDiamonds.com. He will now have an easy-to-use website where he can simultaneously view the inventory of more than 4000 manufacturers. And that is not all. He can go ahead and place an order and TradersDiamonds will deliver the diamond at his doorstep. The advantages are manifold – more choice, better prices, simple and convenient selection and buying processes and more.

TradersDiamonds.com is restricted to members of the trade only. This is important because the diamond prices on TradersDiamonds.com are trade level prices and far lower than consumer market prices. By restricting access to regular consumer, TradersDiamonds.com ensures that a price differential is maintained between traders’ price and end consumer’s price. It is therefore possible for a trader to buy from TradersDiamonds and compete with even CaratLane.com for a consumer sale. Restriction to trade is ensured by providing user account based access. A verification process confirms whether the potential member belongs to the diamond trade or not.

We have been servicing trade requests for some time now. This was largely done through email and over the phone. The surge in trade enquiries validated our long-held belief that we had a system based on our network of over 4000 manufacturers which could be beneficial not just for regular consumers but for trade members as well. This lead to the conceptualization and subsequent creation of TradersDiamonds.com.

Until now, the benefits had largely been about giving traders a larger choice and better prices. But still the traders needed to come back to us frequently. A consumer requirement involves optimization of various parameters to give the best value for the money spent. This optimization process is iterative and hence the traders kept coming back to us time and again as they tried to find the stone with the best balance of all the parameters. This process was extremely cumbersome. Sometimes the inability to quickly respond to a requirement is the reason for losing the sale.

TradersDiamonds.com will take care of this problem and add to the overall value proposition that we offer. The website empowers the trader with a simple tool which will allow him to instantaneously compare all the available options and respond to customer requirements in almost no time. It is very similar to the way online models have simplified the task of booking airline and railway tickets. We have all the options in front of us and that makes it very easy to decide on the best option.

Online models have forced us to change many of our old ways. We have changed the way we bank, shop and communicate. TradersDiamonds will change the way traders buy diamonds. Sphere: Related Content