A look at the recently released Kimberley Process (KP) figures for 2016 reveals several interesting trends affecting the global diamond industry. First is that the top five producing countries have lost some of their market share as diamond production plunged, fewer rough diamonds are going through China, and yet this is still a very concentrated industry from a country perspective. …
Diamond Research - Page 4 of 7
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.
The Scary Stuff Nightmares Are Made Of
For years the diamond industry’s outward attitude to lab-grown goods was that these stones were some sort of fake. Even the nickname given them expresses that disdain – “synthetics.” Yet underneath this expression of disrespect lies a deep sentiment, a real feeling that one can almost smell – a mixture of contempt and deep fear. Don’t balk because that fear …
Speaking Engagement: Understanding Shifts in the Luxury Market
I would like to invite you to a presentation I’m giving at the JCK show together with Desiree Hanson and on behalf of retail metrics research firm NPD titled: Understanding Shifts in the Luxury Market. The past year was an interesting one, full of changes. That is why understanding shifts in the market is important. While some categories saw growth …
Breaking Down KP’s Suggested Diamond Valuation System
One of the key issues brought up for consideration of the Kimberley Process (KP) this year, was the suggestion to put in place a rough diamond valuation system. At its core, the idea is to find a way to determine if the values stated on rough parcels shipped internationally are reasonable. The suggested methodology proposes that rough diamonds be valuated …
What Diamonds are US Consumers Buying Today?
What is the volume of diamonds American specialty jewelry retailers sell every year? Are there pockets of opportunity within items that are losing favor? And how many lab-grown goods are really selling? More importantly, what is the sales pattern and trend? One of the biggest issues in the diamond industry, especially in the manufacturing sector of the diamond pipeline, is …
Global Diamond Production Decreases 4.2% in 2015
Diamond production in 2015 had mixed results. According to just released Kimberley Process figures, 127.4 million carats of diamonds were mined around the world, a 2.1% increase compared to 2014. The total value of production decreased 4.2% to $112.3 billion. The rise in volume and decrease in value resulted in a decline in the average value of production. Prices fell …
The Lab-Grown Consumer Numbers You Need to Know
Who is the lab-grown consumer? For several years, the diamond industry has been grappling with the introduction of gem-quality lab-grown goods to the consumer market. However, even with all the talk, one essential component seems to be missing – hard numbers. Just how many such items were bought by consumers, in what sizes and shapes, in what sales patterns, and …
Resurrection: Fine Jewelry Sales Rise 1.1% in 2015
Fine jewelry sales in the US totaled $66.5 billion in 2015 after consumers rediscovered jewelry in the fourth quarter, leading to a resurrection in demand. After a well felt slump, mostly among diamond suppliers, interest in fine jewelry sparked trade throughout the diamond pipeline. Fine Jewelry Sales +1.1% Fine jewelry retail sales in December totaled $12.7 billion, according to our …
Fine Jewelry Sales Improve, Rough Prices Down, Optimism Ensues (Unjustly)
Fine jewelry sales improved in the US, posting a rise in November, and there are signs that December was alright too. In the last couple of weeks of December, Mumbai diamond traders had a sudden rise in sales, both from the US and China, leading to a burst of optimism that drove demand for Sight goods. De Beers in turn lowered …
This is the Lost Year in Rough Diamonds
It was the lost year for the diamond industry, and what a horrible year it was. Miners, traders, and retailers will remember 2015 as the year of lost capital, walking on the cusp of bankruptcies, lost opportunities, and diminishing value of diamonds. How did it happen, could it have been avoided, and what lessons can be drawn from it, short-term …