Procrastinating gift buyers are expected to drive big retail sales through this weekend. And Mark Vadon sees a big share for Blue Nile.
He’s the chairman and CEO of the Internet discount jeweler, and his firm is trying to lure shoppers right up to the last second.
Vadon told CNBC’s Maria Bartiromo that orders placed until 3 p.m. ET Friday will get free FedEx delivery on Saturday – ensuring that there are no disappointments.
The CEO says Blue Nile’s inventory consists of almost 60,000 of “the highest-end diamonds in the world” – priced at 20% to 40% less than they would at brick-and-mortar jewelry stores. Perhaps this accounts for the e-commerce firm’s sales growth, compared with iconic Tiffany & Co.: Blue Nile’s third-quarter sales rose 26.8% year-over-year, while the latter saw sales rise 9.5% for the same period.