Cyber Monday is the new Black Friday as many retailers predict deals will be better online and consumer preference may be shifting. Blue Nile CEO, Harvey Kanter says he feels good about where the company is with sales five days in and with 23 more to go until Christmas. The website saw a 20% increase in traffic and it was Blue Nile’s biggest Black Friday, with 60% of consumers coming in on a mobile device and a 10-fold increase in China. Kanter explains Blue Nile is performing better overall as gas prices have come down and the consumer is feeling more positive. In addition, Kanter references the National Retail Federation, which found 25% of consumers have jewelry on their wish list. The company continues to partner with designers to offer bespoke collections, like Monique Lhuillier and Zac Posen. Loose stones remain the core of the business having expanded to 250,000 from 60,000. Kanter adds Blue Nile has invested significantly in technology over the past 18 months to adapt to the omnichannel environment consumers are now demanding.
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