Sometimes you may be in a rush to buy a unique piece of jewelry for your loved ones, so you stop by the mall. After all, you can always find three to five jewelers in every mall with multiple options that you can choose from.
Apart from that, you may opt to purchase jewelry from a mall because you are looking for a convenient and less time-consuming option. During your purchase, you may realize that the prices are slightly higher. Slowly, you start to look back at the jewelry prices in any other retail shops that you may have come across.
When this happens, you may find yourself questioning the prices of all jewelry stores in malls. When you begin to compare prices, you start to notice that they are overpriced. But, how true is this statement?
In this write-up, we will confirm whether mall jewelry stores are overpriced. Also, we evaluate whether purchasing jewelry from malls is a good option.
Are mall jewelry stores overpriced?
I have been in jewelry making industry for many years and I know the ins and outs of jewelry manufacturing. I can tell you that the mall jewelry stores Indeed overpriced.
When compared to local jewelers and diamond suppliers, mall jewelry stores are overpriced. Back then, if you needed an engagement ring, you would consult a local jeweler.
Afterward, you would pay for a custom made piece that is unique. That was costly, but it seemed worth it. Now, all you need to do is walk into any jewelry store in a mall, then pick out an engagement ring.
Somehow, you will find yourself paying the same amount of money you would for a custom made piece. I’m not sure that’s a value for the buck!
Unfortunately, most luxury brands ride on the assumption that a higher price means higher quality for their goods. In as much so, this is never the case as quality and quantity should balance each other out. Some noteworthy costs that add to the overpricing of products in mall jewelry stores are;
- Rental spaces in a mall are quite costly, and most jewelers would need to keep up with any fees, no matter how expensive it is.
- Re-vamping. Every store in a mall needs re-vamping after every couple of years. For a jewelry store to maintain those standards, they should be making millions.
- Staff Salaries. Mall hours are longer than regular working hours for any working employee. For this reason, jewelry store owners need to cater to their staff expenses, that is, over-rime and public holiday pay.
- All mall jewelry stores need to ensure their goods, especially in malls with unregulated foot-traffic. To maintain their insurance, then they have to be making a ton!
- Dead Stock. Selling jewelry in a mall isn’t always a guarantee of purchase and returns. For this reason alone, the dead stock needs to be frequently melted down and remade, which is a costly process. At the same time, most items may stay on the shelf for a very long time. In that case, items purchased faster should cater for any extra costs that may come up.
Some Truth and Facts about Mall Jewelry Stores
Here are a few facts that you should know about mall jewelry stores;
1.Most ‘high-end’ rings are produced by unskilled jewelers
Unfortunately, very little precision and skills are put into the high-end rings sold in mall jewelry stores. In as much so, they still have a high price tag.
To add to that, most unskilled workers solely want to make as much jewelry as possible so that they can get their financial share and get on with it.
2.Most engagement rings sold in the United States aren’t locally made
If you have noticed, most renowned jewelry stores are locally owned. In as much so, most of the engagement rings stocked on their shelves are made overseas.
Why? Most jeweler suppliers and manufacturers tend to make their products as cheap as possible.
When a jeweler purchases jewelry overseas, they save a lot on labor costs and any other costs they would spend when their jewelry is locally made.
3.The quality of mall jewelry is lower than you may expect it to be
If you haven’t noticed it yet, mall jewelry has multiple duplicates.
And, honestly, when one product has too many identical pieces along assembly lines overseas, then they may not be of the best quality.
Especially if they are purchased when cheap then sold to you expensive.
4.The rings are marked up
If you aren’t purchasing top-notch pieces, where is all the money you are paying going? Well, the retailer has to get their cut, and so should the manufacturer.
Concurrently, the salesperson should get their commission, and the jewelry store has to make its profit.
When you try to calculate that, you may understand why mall jewelry is overpriced.
Are all jewelry stores the same?
Before we answer this, have you ever noticed that most jewelry stores carry the same merchandise? The same policies, the same goods, the same sales, and the same promotional seasons.
That said, you may be wondering why they are all similar. Well, it is because almost all of these jewelry stores have the same owner.
Huge parent companies or corporations tend to own multiple stores nationwide, and they have a massive inventory bulk, with the same quality and all items are similar.
Should you be buying jewelry at the mall?
Mall jewelry stores have delightful pieces that could be a great addition to your jewelry collection. In as much so, it isn’t necessarily the best idea to purchase jewelry from the mall. Here’s why;
- Mall jewelry stores tend to sell low quality, mass-produced rings to fill up their multiple department stores. These jewelry pieces are produced by workers who are barely trained in the jewelry making process. Also, mall jewelry is made in a rush. To save on a few bucks, sometimes the jewelry makers may purposefully make the pieces lightly with a simplistic design so that they can make multiple duplicates.
- The diamonds don’t always sparkle as much, and sometimes maybe ‘cloudy’. The beauty of a diamond ring is seen in its sparkle. However, mall jewelry has too many inclusions in them, and this often affects its sparkle and shine. Also, the diamonds may have a grayish color that tampers with its brilliance.
- Most jewelry stores do not sell diamonds certified by the G.I.A. Their diamonds are independently lab-graded. This does not rule out authenticity but is a problem when it comes to quality control. At the same time, the diamonds are barely unique. You may find twenty people in the same environment with the same ring. I’m not sure you would want to do that to yourself.
- The jewelry at the mall is overpriced, and sometimes you may find yourself owning a fake piece. Even worse, the sales aren’t genuine. It’s still a rip-off.
Purchasing your engagement ring or any other unique jewelry pieces from the mall is a risk you may want to avert.
You are better off spending the same amount for a unique and special custom made engagement or wedding ring, than pay the same price for a low-quality engagement or wedding ring with multiple copies.
The bottom line is that mall jewelry stores have several options, but you won’t always find the most authentic or durable fashion pieces as you would from a professional jeweler.