Ten-carat diamond ring sold through social media

The pandemic forced luxury goods companies to use social media, video, and virtual showrooms to woo customers in Europe and keep them shopping at a time when tourists, especially from China, have been absent for more than a year. Analysts believe the government-imposed lockdowns have left wealthy Europeans with money to spend, and designer brands are keen to capture some of that cash.
Last month a Genoa-based jeweler - Gismondi 1754 - turned to WhatsApp to sell a 10-carat diamond ring to a Swiss client without showing the ring in person.
While not replacing the need for physical shops, the trend of selling outside the traditional store network is here to stay. Labels such as Hermes, which used to be reticent to online sales, have fully embraced e-commerce. Analysts estimate online revenues for the luxury industry to have doubled to nearly 20% of sales in the past year alone. Boston Consulting Group (BCG) predicts that percentage to rise to 25% by 2023.
Luxury houses are training their sales assistants for “distant sales”. They receive client lists which they then contact to show them the latest arrivals via video chat. The assistants get to know the clients personally and send them clothes or accessories that suit their tastes and preferences, the  Diamond Loupe writes.

Alex Shishlo for Rough&Polished