Blue Nile was founded in 1999 and today, it is one of the largest online retailers of diamonds. In addition to selling diamonds, it also offers platinum, gold, peral, and sterling silver jewelry. It is headquartered in Seattle, Washington and it operates in 25 countries, offering products through its United States, Canada and the United Kingdom Websites. The Company is public traded on the NASDAQ stock exchange and has received several rewards for its service price and education. Its Mission is to be the best jewelry retailer in the industry, and will achieve that by providing high quality products at compelling values through a powerful shopping experience. The company delivers a great customer experience, as well as providing consumers with a unique way to buy rings and other fine jewelry. Blue Nile Displays diamond inventories available with the suppliers on it websites without actually holding them until customer place an order. The company offers more than 60,000 diamonds on its website. Blue Nile targets men to come shop to its site for engagement rings. The national average for an engagement ring is $3,200 but Blue Nile exceeds this number by having a $5,600 average price. Using the B2C EC model with no physical stores, no intermediaries and offering products four times cheaper than rivals, Blue Nile has proven to be a successful online retailer. Blue Nile is directly competing with both online diamonds retailers and physical stores diamonds retailers. Physical stores selling diamonds have tried to persuade customers that buying a diamond is an exciting experience that can only be realized in stores (and not online). They have emphasized the idea of seeing, touching and comparing diamonds that is exclusively possible in a store. Blue Nile has many dangerous competitors such as Tiffany and Co, Diamonds.com, and Zale Jewelers Stores.
Blue Nile has grown into one of the largest jewelry retailers in the United States with only