Most businesses say – our prices are lower than others. Few almost none bother to tell you why. Its important to do so because in most cases, customers assume that lower diamond price also mean lower quality. So making a ‘lower prices’ claim without explaining how is deathtrap for any quality-conscious business. We at CaratLane want to avoid the deathtrap. We make a confident claim that our prices are lower – confident because we have done enough market research to prove it. And now we will tell you how we manage to keep our prices lower than other without compromising on quality. We do so by saving on our inventory costs. For any retail business, inventory costs – meaning the cost of the products stored in your warehouses is huge. Most online businesses also have to keep a certain inventory level to ensure that they don’t run out of stock. Most of them are re-sellers and have to be dependent on their suppliers – necessitating the need for a safety stock. In other cases the time required to make the product is high and again businesses have to keep a safety stock to ensure delivery time lines are met.
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Why is CaratLane cheaper than other jewellers?
So how does CaratLane manage to be different?CaratLane manages to be different by avoiding both scenarios which force businesses to keep inventory. CaratLane has their own manufacturing setup and does not face the danger of a stock-out situation – and hence does not need any safety stock. Our manufacturing also allows us to maintain quality standards. Secondly our product range is very contemporary, simple and minimalistic. While this was done primarily to make online buying easy, this also allows us to manufacture our products faster – fast enough to meet the seven-business-day shipping requirement. Our product goes into manufacturing only after an order is placed – the process is very similar to the Dell model in that sense. That we have an automated manufacturing process just adds to our advantage. So there you go. Now you know one reason why CaratLane can afford to keep their diamond price lower without compromising product quality – because our inventory cost is almost negligible.
How CaratLane Keeps Prices Low
- Efficient Manufacturing
CaratLane has its own manufacturing facility, which ensures high-quality jewellery products and helps reduce inventory costs. By manufacturing only after an order is placed, CaratLane minimizes waste and operates more efficiently. - Lower Overheads
CaratLane’s operational model is streamlined, with lower overheads than traditional retailers. This enables us to pass on significant cost savings directly to our customers. - No Middlemen
CaratLane eliminates the need for middlemen, which often contribute to higher prices in traditional retail settings. By dealing directly with customers, we can keep prices competitive. - No Reseller Markups
Unlike traditional diamond retailers, which add significant reseller markups to their prices, CaratLane operates transparently. This allows us to offer jewelry at prices that reflect its true value without unnecessary inflation.
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