Dharmanandan Diamonds To Unveil Technology For RetailersSeptember 09, 14
The company has introduced several technology products for the diamond industry in recent years aimed at "upgrading retailers and revolutionalizing the way diamonds are purchased".
Dharmanandan successfully launched an iPad application in 2010, and, the 'i-Seller' at the Las Vegas show in June.
Technologically more advanced than the i-Seller, the Virtual Showcase allows retailers to project 360-degree videos of actual diamonds to customers on a large screen within the comfort of their showroom, providing a complete and realistic view of the diamonds. A unique differentiation is that images projected through the Virtual Showcase are actual images of the stones and are not graphically created. The application allows retailers to present a wide range of options to their clientele, who are able to view inclusions and verify the quality of the stones before planning their purchase and placing their order.
"A gigantic leap from the traditional way of viewing the diamond through the loupe, the Virtual Showcase allows customers to have an enhanced view of the purchase they are about to make, and thereby allow retailers to promote greater transparency in retail transactions while enhancing consumers’ confidence in the product and brand."
Dharmanandan Diamonds Director Vipul Sutariya said, “Innovation is a part of Dharmanandan's DNA and supports our strategy to empower retailers and add significant value to their business. We encourage our retailers to consider and evaluate the advantage of these mechanisms, not only in isolation, but perhaps in combination.”
The 'Virtual Showcase' application requires little or almost no additional investment in terms of a set-up and can be easily acquired of by any jewelry retailer. The application is compatible with technology and computer systems that are currently being used by most retail businesses allowing them to access the inventory available with the company through a live feed; thereby dynamically showcasing the collections available to their customers on a large screen. The application is suited for most jewelry showrooms and retail outlets though in its current stage, the application is not compatible for use on digital platforms or virtual showrooms.
Providing retailers with a distinct advantage, installation of the Virtual Showcase allows retailers to maintain stockless inventory as the stones may be instantly purchased online and deliveries received anywhere in the world almost immediately. The process for online purchase has been made quick and efficient. The depth and scale of inventory that the company has presents retailers with a wide range of options that meet the varying requirements or needs of their clientele. Typically diamonds viewed on the Virtual Showcase are in a variety of sizes, quality, color and clarity. The entire process is secure and promotes immense savings in terms of time and cost as retailers need not maintain large inventories anymore.
The application will be available to retailers, globally and in India, immediately after its launch at the forthcoming Hong Kong Fair. Ably suited for retailers across the board in the country, the launch of the application is in line with the Strategic Retail Plan (SRP), a brainchild of the company’s leadership, that aims to introduce technologies that are focused on empowering the retail industry; allowing a more systematic and scientific approach to run their businesses and with greater efficiency.
The i-Seller and the Virtual Showcase have been developed as a start of its Strategic Retail Plan.
“The industry is in the midst of a profound structural shift from physical to digital retail. It's happening faster than one could have imagined,” said Piyush Patel, Director, Dharmanandan Diamonds. "Our retailers have a choice to go digital with the diamond 'Virtual Showcase'; wherein their consumer could have rich buying experience of diamonds in 2D and 3D viewers and with our stockless inventory module the retailer can have competitive advantage as well.
"Dharmanandan Diamonds’ thrust on product innovation and R&D has enabled the company to maintain a competitive edge over the last two decades, fuel its passion to bring value addition to the diamond industry and revolutionalize the way the diamond manufacturing and retail trade continues to develop."