A new Chicago upstart thinks the key to finding the right engagement ring is to hire an expert.
Brilliant Insider Chicago launched this fall to change the way couples shop for engagement rings by offering an independent consultant who can guide them through the process and find a quality ring at their price point. The idea is to help shoppers at any point of their journey, whether it's understanding how much they can get for their budget, to a full concierge service that source stones and rings that fit their needs.
The company is led by Gracie Joniak, who spent nearly 20 years in sales and management roles at Tiffany & Co., and later joined family owned Chicagoland jeweler Fey and Co. Joniak said oftentimes engagement ring shoppers don't know how large of a stone they can buy for their budget, and aren't sure how to evaluate the quality of their ring beyond the "four Cs": color, cut, clarity and carat.
"A lot of people don't know where to start," she said. "You don't know what you don't know."
While weddings have been postponed and scaled down in light of Covid-19, the pace of engagements hasn't slowed, Joniak said. And as shoppers increasingly turn to online purchases, having an independent third party can prove beneficial in the shopping experience, she said.
"People are still wanting to get engaged, and wanting to continue some normalcy in their life," Joniak said. "And a lot of people don't know where to turn."
According to online wedding resource The Knot, around 70% of shoppers said their engagement ring purchasing experience was impacted by Covid, with online shopping on the rise. People also shortened their proposal planning time, the study found, with shoppers spending an average of less than a month planning a proposal in 2020 versus one to three months in 2019.
Those conditions could be favorable to a service like Brilliant Insider Chicago, which aims to help folks make one of their most important—and most expensive—purchases of their life. Joniak said the company will offer a free consultation to help shoppers understand the basics of ring shopping and what they can expect for their budget. It then offers everything from second opinions on rings already purchased to a full concierge service that will source rings that fit a person't budget and style, which range from $75 to $250.
Joniak said the startup works with all budgets and ring types. She said the company has seen increased demand from younger clients for alternatives to the classic engagement ring, including lab-grown diamonds and colored gem stones. She added that the company envisions helping jewelry shoppers beyond just the engagement ring, eventually assisting with anniversary, birthday and other gift-giving occasions.
