Queens Diamond finds success with creative COVID-19 strategies

Even after three years of the COVID-19 epidemic, many small businesses are still struggling to return to their previous state. Businesses run by the Nepali community in New York have not been immune to this. However, these businesses are adopting new measures to recover their previous economic standing.

The COVID-19 epidemic has changed people's lifestyles. Nonetheless, after almost three years of ups and downs, many businesses are managing to recover financially. Surya Maharjan, director of Queens Diamond and Jewelry in Jackson Heights, Queens, New York, said that the family business run by her and her husband, Samir, has managed to recover financially.

In March 2020, New York became the epicenter of the COVID-19 epidemic, forcing most non-essential businesses to close, including Queens Diamond on 74th Street in Jackson Heights. Surya remembers, "Throughout 2020, we could not operate the business regularly. Even after closing for three months and reopening, we only opened with reduced hours. We also limited customers, resulting in significant financial loss. But after the arrival of the vaccine, the business started operating full-time, adhering to health and safety standards. However, the business had not returned to its previous scale."

The Maharjans accelerated the same-day jewelry delivery system within New York City after the COVID-19 epidemic. If there is a ready-made piece of jewelry, it will be safely delivered on the same day that the order is received. As a result, customers within New York City started requesting home delivery of jewelry. Samir says, "It had a positive impact on the business. This measure has been effective, as insurance covers any theft or loss during delivery."

Similarly, Queens Diamond launched an e-commerce website after the COVID-19 epidemic, making it unnecessary for customers to visit the store to order a piece of jewelry. The Maharjan couple has observed that orders coming through the official website of Queens Diamond have gradually increased, as customers have become accustomed to shopping online. Samir says, "After the epidemic, we redesigned the website. Customers outside of New York City find it easy to order small jewelry online. Customers can order with confidence online, as there is an insurance arrangement for the delivery until they sign for it."

Samir has extensive experience using social media, which has had a positive effect. He said that measures have been taken, from creating digital flyers and spreading the word through social media, to establishing a Facebook shop. Although there are not many orders coming from the Facebook shop, the number of people directly contacting the shop after looking at the jewelry is significant. Samir has experience conducting live sales on social media for a few hours, and orders come in even during the live sales.

For customers who want to have a good look at the jewelry but cannot be physically present, orders are also taken through live video calls. Samir's experience is that when the jewelry is shown to customers through a video call or Facetime, it becomes easier for the customer to decide which jewelry to buy. He said that customer attraction is increasing as they can return the jewelry within a week if they do not like it.

After the epidemic, the purchasing power of customers decreased, while the price of gold increased, making customers hesitate to buy expensive jewelry outright. In 2019, the price of gold was $1,285 per ounce, and in August 2020, it exceeded $2,000. In March 2022, the price of gold reached $2,000 per ounce, and on January 24, 2023, it reached $1,937. To cater to their customers, Queens Diamond has started a layaway system where customers can pay gradually. Under this system, customers pay 80 percent of the price of the jewelry and can take the merchandise with them. The remaining 20 percent can be paid later, and no credit check is required.

Samir said, "We have adopted this system based on the relationship and mutual trust with the community."

In addition, there is also a provision for applying for a credit card issued in collaboration with Synchrony Bank, allowing some customers to buy jewelry up to $15,000. However, a good credit score is required for credit approval from the bank, states Samir.

After the pandemic, the Maharjans started selling jewelry through ETSY.com in addition to their official website. "We had already thought of starting it, but after the epidemic, it became a favorable time as customers started to get used to shopping online," Samir said.

Since the festivals of the Nepali community are connected with jewelry and there is a tradition of wearing certain jewelry and giving gifts during such festivals, working these events generated sales and had a positive effect on the business. Surya commented, "Since jewelry is given as a gift to sisters during Tihar, we bring an offer of the same type of jewelry. As special types of jewelry are worn on Teej, we bring offers of those types of jewelry. For Valentine's Day, we bring an offer of jewelry that reflects love."

Due to these measures, Surya Maharjan has seen that the business is returning to its previous state. "After the corona epidemic, luxury goods, including jewelry, have become less of a priority for customers," she said. "By adopting these measures, we have almost returned to the situation before the epidemic."