jewelry retailers have a feature for shoppers | | |to customize orders | |Increasing globalization |Blue Nile has 40 international markets where 35 of them can make their purchases in local | | |currency (p185) | |
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How Blue Nile Inc. is Changing the Jewelry Industry Blue Nile is a true e-commerce (EC) which in 1999 launches an online marketplace where sells certified diamonds and fine jewelry at lower than retails prices. Their products must be stored‚ shipped and physically delivered‚ therefore‚ one or more of the commerce processes (product‚ process‚ and delivery) takes place offline and they could be classified as a partial e-commerce. Blue Nile is an e-marketplace owned and operated by the company itself
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Introduction “The Blue Nile was incorporated Delaware on March 18‚ 1999 as RockShop.com Inc. On May 21‚ 1999 the company purchased certain assets of Williams & Sons‚ Inc a Seattle Jeweller including a website established by that business. In June 1999‚ they changed their name to Internet Diamonds‚ Inc. In November 1999 the Blue Nile brand was launched and changed to Blue Nile‚ Inc with corporate head office located in Seattle‚ Washington USA. Blue Nile.com (2008) The Blue Nile “business has grown
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1. How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Do a five-forces analysis to support your answer. If you were to forecast the future‚ what would this analysis look like in 10 years? Potential entrants: Major online retailers‚ major jewelers‚ Village Silversmith Current Competitors: Ice.com‚ Gemvara‚ Diamond.com‚ Jamesallen.com‚ Astley Clarke Substitutes: Smaller/local Jewelry stores Buyers: Couples to be engaged Suppliers: Diamond mines‚ precious
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higher price. (3 marks) Sustainable competitive advantage is necessary for a firm to win in the market place. It is required for a strategy to deliver on strategic and financial objectives (2 marks) 2. Using examples briefly explain and state the importance of each of the following a) Strategic vision Suggested Answer Strategic vision represents the destination that management seeks to take a firm. Ford’s vision “A car in every garage” Importance Give the organization a sense
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Blue Nile Inc. in 2010: Will Its Strategy to Remain Number One in Online Diamond Retailing Work? 1. How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Which one of the five competitive forces is the strongest? Do five-forces analysis to support your answer. The competitive forces are intense as there are several online and offline jewelry retailers and there has been a decline in sales due to the economic recession. Many online and physical stores
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Blue Nile Inc. Strategy 2011 Blue Nile Inc. Strategy 2011 Introduction In 2009‚ the U.S. jewelry and watch market was 42% of the worldwide market‚ which was estimated to be as much as $140 billion. Industry revenues had grown 5.5% annually for the 20 years prior to the recession in 2008. Despite the recession and intense competition in this highly fragmented market‚ Blue Nile Inc. (NILE) capitalized on the industry growth rates and grew to become the world’s largest online
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Case 7 Blue Nile inc. Discussion questions 1. The diamond and fine jewelry industry was very competitive. Market share was divided between locally owned brick and mortar stores‚ retail chains‚ big box stores like Costco and online retailers. Which made The rivalry between competing sellers the strongest of the competitive forces in the industry. Buyer bargaining power: very strong Strengths -Buyers incur a low cost of switching (they can purchase jewelery anywhere with no cost. -Buyers are
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SCM44 Case Study Cheng Gong 1. What are some key success factors in diamond retailing? How do Blue Nile‚ Zales‚ and Tiffany compare on those dimensions? Blue Nile has an obvious advantage in product variety and product availability since customers can “build their own ring” by choosing from an inventory of about 75‚000 stones online. The Tiffany brand is very strong and well established. It is associated with glamour‚ luxurious‚ trust‚ and customer service. So Tiffany can get higher margins than
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Blue Nile Case Questions 1. How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Which one of the five competitive forces is the strongest? Do a five-forces analysis to support your answer. The competitive forces that are confronting Bule Nile and other online retail jewelers are strong. The threat of new entrants is high because the brick-and-mortar stores have a low cost of entry into the online retail of their jewelry. The threat of substitutes is
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