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Diamond jewelry sales last year reached a record $82 billion high in 2017, with much of the purchasing coming from young consumers, according to De Beers Group’s latest Diamond Insight Report.
Anyone who has ever done a back-of-the-envelope calculation of the US fine jewelry market in the past few years arrived at figures that were far below the official numbers published by the US government.
In April, I relayed the results of GemFind’s first annual report aggregating data from the jewelers’ websites that the company manages; the report told us what diamonds consumers were clicking on the most—though not necessarily buying—when browsing jewelry online.
India will overtake the US as the second-largest market for fine jewelry, behind China, by the end of 2018, according to researchers at Euromonitor International.
Looking at news reports this week, one standout trend appears to be the strength of the diamond market currently.
Tiffany & Co. is the top luxury brand in the United States, according to a recent study among consumers.
So? Where are we headed? Will this be a year of renewal, with huge margins and an increasing sense of security?
Is the diamond industry moving forward? Is it on a growth track? Is it taking steps that would lead it to capture market share from other luxury goods, greater share of wallet, or at least improve its margins?
The Antwerp World Diamond Centre (AWDC) and Bain & Company have released their seventh annual global diamond report, covering 2016 and the first half of 2017.
Much of what’s contained in De Beers’s 2017 Diamond Insight Report was foreshadowed by company executives at the annual Forevermark breakfast held during the Las Vegas jewelry shows back in June.
Of late many Indian diamond as well as jewellery companies have been hit hard due to the slowdown in the international consuming markets.
Have you noticed that a significant part of analytical articles published lately contain this phrase, “… Since the time the diamond monopoly of De Beers ended…“? Time and again, experts recall this, regretfully mulling over the decline in consumer demand, the recurring downturns in the market, the volatility of prices, and the need for generic […]