Gembridge has announced that the value of gemstones and jewellery listed in its online catalogue has hit US$100mn for the first time. This milestone marks the growing role of Gembridge and ecommerce sales in the global industry.
Luxury continues to be one of the fastest growing segments in the global ecommerce market. Major international gemstone and jewellery wholesalers, as well as traditional retailers, are developing direct-to-customer sales with Gembridge, helping them to retain customers moving online and attract new buyers.
The largest sellers on Gembridge now upload over US$1mn of stock at a time using tools that are automating the digitization of the gemstone industry.
“We are proud that our catalogue has hit US$100mn, but even prouder that our customers have repeatedly set new ‘largest transaction’ records as demand for our inventory grows,” said Nick Marrett, CEO of Gembridge.
Gembridge records include a largest sale of US$220,000, a largest single gemstone sale of US$70,000, and a largest bespoke jewellery sale of US$35,000.
“Some of these sales were made by credit card, which I find especially exciting. The ability to make spontaneous purchases online by card has been a key driver of ecommerce. The fact that we have now tapped into the higher end of the market with sales using the AMEX Black Card is game-changing,” Marrett said.
Gembridge is busy growing traffic to ensure global buyer numbers keep pace with the expanding catalogue. “In 2022, we invested heavily in search marketing. Today, the number of buyers who find Gembridge through search is 5 times higher than last year. The plan is to double our catalogue’s value by 2024,” the CEO added.
Gembridge is a leading global platform for the discovery of beautiful stones, wherever they are found. Each is appraised and catalogued by experts. Customers in 60 countries find their Perfect Stone loose, in jewellery, or create bespoke settings. Customers buy direct from the trade at the best prices.
Gembridge is a commercial member of CIBJO, the World Jewellery Confederation, and is a member of the ICA, International Colored Gemstone Association. Gembridge is regulated by Singapore’s Ministry of Law for purposes of anti-money laundering and countering the financing of terrorism.