Diamond retailer Blue Nile takes a shine to Cyber Monday discounts |
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Diamond retailer Blue Nile takes a shine to Cyber Monday discounts
Blue Nile isn't known as a discount retailer, but the online diamond merchant is trying to get in on some of the Cyber Monday action. The company for the first time is offering discounts on select pieces of jewelry in the post-Thanksgiving period (starting with a "diamond eternity bracelet" today, which is already listed as sold out), and offering free overnight shipping on Cyber Monday purchases.
Blue Nile CEO Diane Irvine hit the national airwaves today, telling CNBC that "Today looks to be our best Cyber Monday ever" and that the company set records "all of the days of the weekend," though she didn't share specific sales numbers.
"We know that consumers are focused on value this year," said Blue Nile spokesman John Baird. "This is a way to cut through the holiday clutter and reach new consumers."
Baird said the company will offer a new piece of discounted jewelry each day through Dec. 23. Seattle-based Blue Nile has been trying to boost its market share as many of the nation's brick-and-mortar jewelry businesses grapple with bankruptcies, liquidations and store closures.
People searching for super-cheap bling may be in for a shock, however. Even at 25 percent off, that eternity diamond bracelet that kicked off Blue Nile's Cyber Monday promotion was priced at a cool $3,950. And Irvine told CNBC the company has seen an increase in transactions valued at more than $20,000 after Thanksgiving.
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