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PearlParadise. It was something about spending $20 for a set of pearl jewelry in Beijing and finding out it was worth $600 in America that gave Jeremy Shepherd the idea to start PearlParadise.com, reports Tara Siegel Bernard in The Wall Street Journal. At the time, Jeremy was a flight attendant on a stopover, simply buying a gift for his girlfriend. Now -- about seven years later -- he's running a $5 million business, not only via his own site, but through a network of some "13 other websites that sell pearls around the globe." His would seem an unlikely success, given that he started out with no brand name and was selling expensive, luxury goods that customers couldn't touch. It's a matter of trust. Posting high-resolution images was a given, but it is educating his customers that grounds Jeremy's trust-building regimen.
Jeremy blankets his website with information on "how pearls are produced and on the different varietals," which put customers at ease. Everyone on his staff has "pearl certificates from the Gemological Institute of America," too. Jeremy also promoted his membership in the Better Business Bureau and the Safe Shopping Network. Perhaps most important, Jeremy offers a "90-day money-back guarantee, and an appraisal ... Nearly all the pieces come with a second-appraisal guarantee: If a customer has the jewelry appraised on their own, the company assures them that it will be valued for at least five times the price the customer paid at PearlParadise." That kind of attention to customer service and satisfaction triggers what Jeremy considers to be "the biggest boost to credibility." Word of mouth.
"Having a happy customer has been the core of this business," says Jeremy. So are buzz-worthy promotions: "Twice a year -- before Mother's Day and Christmas," he builds a special web page just for his customers, and features "items practically at his cost." He explains: "People tend to buy more than those special pieces ... The sales on those days are just astronomical." Jeremy also provides pearls for Oscar gift bags (this year he dispensed gift certificates, requiring the stars to visit his Santa Monica headquarters to pick up their pearls). But ultimately, the appeal is the same for his customers as it was for Jeremy himself back in Beijing. His customer, he says, is "the man who wants to buy a necklace for his wife, but knows it's $2,500 in a store but $350 on PearlParadise, pearlparadise.com."
Tim Manners, editor
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