Gem Shopping Network: An Online Jewelry Business During the Pandemic
The COVID-19 pandemic has forced many sectors to adopt new work routines and move their commerce online. This is also true for the gem and jewelry industry. However, some businesses have been on-air and online for quite a long time. One of the veterans is the Gem Shopping Network (GSN), headquartered near Atlanta.
Since 1997, GSN has grown from a weekend show to a network that reaches over 60 million U.S. households. From television to the web and more recently the mobile app, the network can livestream its gem and jewelry shows through all available channels. At the beginning of the pandemic early in 2020, GSN immediately adopted proper social distancing and regulations to keep its employees safe, which allowed the crew to operate without a pause. Show hosts continued livestreaming from the studios, entertaining and educating their audience (figure 1).
Because GSN carries a vast array of goods—from mineral specimens, faceted gemstones, and finished jewelry all the way to collectibles and estate jewelry—supply has been a critical component since its earliest days (figure 2).
While some in-person sourcing was prohibited by the situation, the supply side of the business was not negatively impacted overall. Some suppliers who would normally provide goods through outlets such as the cruise ship industry were able to transfer them to online jewelry traders such as GSN.
The majority of GSN’s customers are women ages 50 to 65, a demographic that has been quite stable over the past two decades. This customer base proved advantageous when “staying at home” became the new normal as more time was available to watch the shows and purchase goods. Although international transportation was impacted by COVID-19, U.S. domestic shipping and delivery remained quite efficient. Steady supply, a stable customer base, and on-time delivery combined to make 2020 one of GSN’s strongest years financially.
As both a seller and an educator, GSN has its own gemology content production team. The pandemic unexpectedly allowed more time for the team to produce content, which is shared over the multiple streaming channels. High-quality content is one of the key pillars for any online seller as it is the tool to attract and maintain customers. As the world gradually recovers from the pandemic, online jewelry trading is expected to see strong growth in the future.
