Blue Nile’s Demand For Solitaire Rings Has Weakened
During the Thomas Weisel Partners 2008 Consumer Conference in New York this morning, Blue Nile Inc. presented to investors.
Diane Irvine, CEO of Blue Nile repeated the findings for the company’s second quarter by stating that the retail status in the United States is challenging.
Trends have taken a turn, downsizing in bridal purchases. Consumers began trading their solitaires for diamond bands, which has an average price difference of about $6,000 to $3,000. Furthermore, buyers were switching their band quality from platinum to white gold.
The economy did not actually have any statistical evidence of a slow-down on wedding bands or engagement rings, but Mark Vadon, Blue Nile chairman said that unclear data hinted to a weakening market.
Vadon had reminded the people who attended the meeting that buying the ring was just part of the larger marriage investment; the package also includes a wedding and setting up a new home.