At some point, more lab-grown diamonds will be sold than naturals. Natural diamonds are a finite resource, and over time, their supply will dwindle. Lab-grown diamonds are factory made, and the raw materials for producing them are nearly infinite. Lab-grown diamonds sales will eventually outpace naturals. The question is not if but when this will happen.
Economic research into the global diamond industry. A thorough exploration of every aspect of the diamond market, from mining to consumer demand.
What is Diamond Research?
Diamond research is the comprehensive examination of the diamond industry. It may examine a single, very specific activity in the diamond sector. It could also study an inner industry interplay or provide long-term tracking of an industry component accompanied by an analysis that puts it in context.
A research project may include market interviews, use of big-data analytics, expert analysis, and the use of exclusive granular data collected from various diamond industry sections.
Diamond pipeline activities that are researched include, but are not limited to, the following areas of the diamond market value chain:
- Consumer buying habits,
- Household expenditures,
- Retailers’ purchasing and sales trends,
- Manufacturers’ financing and polishing activities,
- Rough diamond purchasing,
- Diamond miners’ sales and capital investments,
- Changes in diamond prices,
- Trends and forces that impact pricing.
Who Needs Diamond Research?
Every company involved in the diamond industry needs a deeper understanding of the market. Some want to better understand the supply chain and how it impacts them. Other companies are looking to discover their blind spots.
Frequently, companies need to ensure they are not missing out on opportunities. This may include hidden shortages, timely warnings of inventory buildup in the market, a need for a new service, or simply changing prices of a particular item.
Financial firms may be after diamond industry analysis to decipher trade figures or discover how a part of it works. These firms repeatedly find that it is challenging to talk with diamond companies and require someone to untangle diamond-speak. Most importantly, they need data placed in a broader context.
Where is Diamond Research Used?
Before deciding on a strategy, in making marketing choices, when pricing goods, before picking a jewelry design for production, before launching a product, when tracking market changes, and much more.
For a deeper look into this topic, please see below.
US Holiday Jewelry Sales Predicted to Rise 40%
Based on our market analysis, we predict US holiday jewelry sales to rise of 40-42% in the November-December holiday period. Annual jewelry sales are expected to total $94-$95.3 billion in 2021, rising 51%-53% year over year.
How Much Are We Really Spending on Diamond Engagement Rings?
Going through the sales data of hundreds of jewelry retailers provides remarkable insights. For example, how much Americans really spend on their diamond engagement rings. Here is the data driven answer.
Not a 2020 Wrap-Up, or a 2021 Prediction
A few observations on the most significant place for the diamond industry: US retail sales 2020. Jewelry sales were up!
Five Countries Lead Diamond Supplies to the US
Diamond supply to the US comes from all over the world. As the world’s largest diamond consumer market, the US is the country that imports the most diamonds – more than $400 billion worth of polished diamonds in the last 30 years.
Expect Higher Diamond Prices This Holiday Season
Consumers should expect higher diamond prices as strong demand has been driving them up in recent months. After consumer retail purchases dropped in March and April, US retail activity surged in the summer months. This renewed demand includes jewelry and diamonds and is causing diamond prices to rise.
De Beers’ Market Share Falls in 2019, Hides a Surprise
After a year of pains, and in the midst of one of the most complicated years since World War II, De Beers’ market share sank in 2019. Not only De Beers, but ALROSA, Rio Tinto, and Petra all lost market share. The reason is changes in diamond production by smaller firms.
Diamond Production Dropped, Now It Is Nosediving
Global diamond production sank 6.9% in 2019, the deepest plunge in a decade. By value, diamond production dropped 6.2%. There were good reasons for this, and the updated diamond production forecast calls for an even more significant slide in 2020.
Diamond Business Absorbs Blows
The diamond business keeps suffering from declining prices and a decrease in consumer spend on jewelry due to COVID-19. Persuasive marketing can address underlying issues.
This Is How COVID-19 Impacted Jewelry Sales
COVID-19 hit the world like a wild and destructive storm and the diamond industry was not spared. Following are the figures showing just how COVID-19 impacted sales, and how the tide is perhaps starting to turn.