July 8, 2003, 12:00 AM

Mondera.com reports online jewelry sales rise 80%

The retailer of diamonds and other jewelry attributes much of its growth to services for the bridal market, such as hand-made prongs for attaching gemstones to rings.

Paul Demery

Managing Editor, B2B E-commerce

With online jewelry sales growing at a fast pace but in a highly competitive industry, jewelry retailer Mondera.com is maintaining is own sales growth by focusing on unique products and services, such as hand-made prongs for attaching diamonds to engagement rings, Mondera says.

 

Mondera reports that its overall sales grew 80% in June over June of last year. It attributes much of that growth to its robust sales in the bridal market.

 

Fred Mouawad, chairman and co-founder, says a key strategy in serving the bridal market as well as overall jewelry sales is expanding Mondera`s range of services, some of which emphasize detail over speed of order fulfillment. Its service of offering handmade prong settings, he notes, now accounts for 85% of Mondera`s sales of diamond engagement rings.

 

Online sales of jewelry and watches grew 37% industry-wide in the first quarter over the year-ago period, to $226 million, compared to 24% growth in all online consumer spending to $20.9 billion, according to comScore Networks Inc.

 

 

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