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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