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Diamonds International replaced its private-label credit card with a private-label pay later program from ClarityPay, moving away from deferred-interest terms to a solution that serves a broader range of customers across the credit spectrum while delivering a personalized, premium shopping experience. The results include 60% higher average sale amounts and positive feedback from both associates and guests.
Established in 1988, Diamonds International is a leading fine jewelry retailer with more than 125 locations across the Caribbean, Mexico, and Alaska. The company is recognized as a leading name in fine jewelry within the cruise and destination retail industry.
Why did Diamonds International move from a private-label card to a private-label pay later program?
As our stores have expanded to more ports and cruise lines, and as the demographics of cruise passengers have shifted, we've seen our customer base evolve as well. In addition to our premium customer base, we're now welcoming a wider range of customers, including young families. We knew we needed a financing solution that could deliver a premium experience while also serving a broader range of customer segments. Overall, there was also growing interest in pay later and financing options that didn't require another credit card.
What did you look for in a partner?
First and foremost, we were looking for a strategic partner, not a vendor. We wanted a partner who would work closely with us to build a tailored program and help us achieve our sales goals.
Additionally, we needed a partner who could deliver the private-label experience our existing customers expected while expanding the program with personalized offers to meet the needs of our emerging customer base.
How did ClarityPay improve the shopping experience?
Our guests are on vacation, and we welcome them into a premium setting, offering white-glove service and champagne as they browse beautiful jewelry. In that environment, friction is the biggest hidden cost.
With ClarityPay, the application experience is easy and seamless. Our associates are spending more time with customers and less time on credit applications. For example, the credit application is pre-filled once customers provide their cell phone number and the last four digits of their Social Security number. That's it.
Additionally, the financing plans are simple and transparent, allowing customers to see their exact monthly payments without the added complexity of another credit card.
Guest experience is a key performance indicator for our cruise partners, and financing is now contributing positively to guest experience scores and feedback, which is exactly the outcome we were hoping to achieve.
How has the program improved acquisition and average sales?
Financing is a critical tool for helping customers obtain their dream jewelry. With this new program, eligible customers across the full credit spectrum receive instant pre-approval for up to $50,000 without impacting their credit score, allowing them to shop with confidence.*
A wide variety of personalized offers helps customers budget for their purchases. Working with ClarityPay, we're experiencing 25% higher approval rates and 130% higher average approval amounts. This has helped us reach an entirely new customer segment and given our store associates more confidence. The result is incremental sales and a 60% increase in our average sale amounts.
What results have you seen beyond the numbers?
Results so far have exceeded our expectations. We've been able to keep our brand front and center in stores, and both sales associates and guests have praised the experience. Financing has become a seamless part of the customer conversation, supported by tools that help drive both first-time and repeat purchases.
Additionally, data transparency has been integral to the partnership from day one, allowing us to continually test, improve, and optimize the program.
What advice would you give other merchants considering a move like this?
A partnership must work for both sides, and a cookie-cutter pay later program does not suit an environment as complex as cruise retail. We evaluated multiple providers and made our decision based on flexibility and a genuine commitment to partnership. It's also important to recognize friction as a real cost and ensure access to customer data that can support ongoing optimization and marketing efforts.
What is ahead?
Cruise guests often book their next trip before they disembark, and many return during the same trip or on their next cruise. The Diamonds International Financing Account provides a branded channel for remarketing that keeps us top of mind while extending our white-glove, concierge-style experience beyond the store. With ClarityPay, we're building integrated marketing initiatives to engage customers before, during, and after their voyage.
Ready to build a tailored pay later program for your brand? Learn more.