Diamond Market Activity and Analysis - Page 6 of 8

The diamond market explained. Using our research, detailed data, and knowledge of the diamond industry, we put it in context with clarity.

What is the Diamond Market?

It is the collected set of activities that result in a piece of jewelry set with a diamond adorning a person. It covers a wide range of activities, and requires a wide range of disciplines to continue and develop. And yet, it is a relatively small industry that generates less than $100 billion in global retail sales.

Why is There a Diamond Market?

It is human nature to desire to adorn jewelry. Diamonds have succeeded to catch the attention of many thanks to their exceptional beauty, but there is more to this picture. The successful use of marketing since the early 1940s has had a large contribution.

Since the dawn of humanity, people have sought to adorn themselves. The desire to look good and decorate ourselves is set deep into our DNA. Be it a simple string of small shells or flowers, or an elaborate crown full of details and complex workmanship, we want it.

Of all the components that can be set in a decoration, diamonds reign supreme. Thanks to their sparkle, shine, rarity, and overall beauty, diamonds have always been coveted. It is that desire that the diamond market serves. It is the reason that a multi-billion dollar exits – to serve a human desire.

What Are the Components of the Diamond Market?

The foundation of the market comprises:

  • Exploration
  • Mining
  • Rough diamond sales
  • Diamond polishing
  • Polished diamond wholesaling
  • Jewelry making
  • Retailing
  • Consumer demand

For a deeper look into this topic, please see below:

This Just In: Jewelry Retail Sales Are Improving

This Just In: Jewelry Retail Sales Are Improving

The most pressing fundamental issue for the global diamond industry today is the decline in consumer demand. Hopefully, this is changing, as US retail sales of fine jewelry have posted several consecutive rises recently, signaling a turn for the better. In August of this year, fine jewelry sales increased 2.4% year-over-year, the fourth consecutive month of increases. Fine jewelry sales …

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Consumer Expenditure on Jewelry Sinks

Consumer Expenditure on Jewelry Sinks - featured Edahn Golan

A review of US consumer expenditure on fine jewelry in the past year is sobering at best. Americans are spending a lot less on jewelry, and this is a near across the board trend. In every demographic, nearly every segment of the demographic spent less on jewelry, and at times every segment spent less. Overall, the average US household spent …

Sightholders Don’t See Relief in Sight

Sightholders don’t see relief in sight - featured image

Pop quiz: Rough diamond prices were reduced at Sight 7 by: 13%, 9% or 5%? If you examine the price list, you’ll see that the price of some goods decreased by as little as 2.5%, whereas others were cut by as much as 20%. One report may have been based on a simple average of the discounts and came close …

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Has De Beers Unveiled Deep Kimberley Process Mistake? Russia & Dubai on the Rise

Has De Beers Unveiled Deep KP Mistake? Russia & Dubai on the Rise - featured image

The return from the summer break has been anything but smooth. While the focus has been on the Sights, there are other issues, such as long-term trends, that are becoming clearer as we dive deeper into the current crisis. The recent Kimberley Process figures are at odds with De Beers’ diamond production report. Which is more accurate? After initially posting …

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How Sightholders Take Care of Business – A Market Report

How Sightholders Take Care of Business - Botswana Sight - Edahn Golan rough diamond market analytics

From retailers in Middle America to jewelry manufacturers in India, from polishers in Israel to rough traders in Antwerp and miners in Africa – the global diamond industry seems tired, pessimistic and gloomy. Everyone in the pipeline is seeing their sales decline and their turnover shrink, with improvement resting on a distant horizon – constantly receding. It seemed that no …

The Diamond Austerity

The Diamond Austerity

In July, diamond miners will offer fewer goods, but in August – this saga will be of a greater magnitude. A diamond austerity plan is needed.

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Is the Diamond Market Screeching to a Halt?

diamond market - Is the Diamond Market Screeching to a Halt

From top to bottom, the diamond market is changing, and in most places the change is anything but positive. The upcoming Sight, business failures in India and Israel and the languishing retail market all have issues. Not all is bad though, there is some good news as well. Rough Diamond Market: Worry about the Next Sight The upcoming Sight is …

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Yikes! Jewelry Losing Market Share (and Consumer Interest)

Jewelry Losing Market Share (and Consumer Interest) - Edahn Golan

Since October 2014, sales by specialty jewelers have been declining, while total retail sales in the US have been expanding, leading to a steady, yet constant loss in fine jewelry market share. Clearly, when given a choice, American consumers prefer spending their money on products other than jewelry. However, even in the recent past, this was not always the case. …

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The Jewelry Retail Challenge: Think H&M

The Retail Challenge: Think H&M

As we all know, the jewelry retail sector is struggling and facing many challenges: from declining consumer interest to limited marketing, from competing categories to unclear propositions, from confidence-eroding scandals to difficult pricing. Even benchmarking performance and prices is not widely available. And these are just internal issues. The question is no longer if the jewelry retail landscape is challenging, …

10 Things Learned at the Las Vegas Trade Shows

10 Things Learned at the Las Vegas Shows

The Las Vegas trade show not only spotlighted where the problems are in the diamond industry, they also showed where positive change activity is taking place, possibly signaling the way for the rest of the industry. The JCK Las Vegas and Couture shows started with a certain degree of promise, and even though they suffered from low foot traffic, they …