By David Brough
The expansion of Nivoda‘s offering to gemstones from diamonds, furthers a trend for the emergence of digital gem trading platforms.
Nivoda, a leading online diamond marketplace, announced the launch of gemstones on their platform on June 26. This expansion marked a significant milestone for Nivoda as it broadened its offerings, catering to growing demand for gemstones from industry professionals.(https://jewelleryoutlook.com/coloured-gemstones-nivoda-introduces-gemstones-to-marketplace-offering/)
The pioneers of this trend for the digitisation of gemstone trading were companies such as Gembridge, GemCloud and Jewelers Circle, which have been hotly pursued by several other startups.
Traditional and longstanding suppliers have also developed their own e-commerce platforms, such as Just Diamonds and sapphires supplier Min Gems.
Gembridge bespoke ring
Each company offers a different business model, with Gembridge presently promoting bespoke jewellery design, and GemCloud offering a huge digital inventory.
If the trade turns increasingly to digital platforms, trade fairs will face more competition.
But dealers say privately that they will continue to source gemstones in-person at trade shows because they value the networking opportunities and the chance to physically handle goods.
The expansion of digital gemstone platforms is not expected to jeopardise physical trade events, but will give the trade greater choice and transparency to source goods.