The diamond market, from mining to retail, has changed dramatically under COVID-19. In a webinar given with AWDC, current diamond market dynamics, needed steps, a glimpse into the future, and our poll results were discussed. We covered a lot of ground.
Some of the topics touched on during the webinar include:
- Spending on luxury, how it differs from expenditure on lower-cost items, and how it all plays out in these times
- The impact of unemployment on spending and weddings
- How to assess online diamond trading platforms
- The uproar over the Rap list
- The direction rough and polished diamond prices are going (not as feared)
- The urgent need for diamond traders to switch from discount-based pricing to dollars
- Inventory: sell at low prices or hold on until prices recover. Or the importance of cash flow
- Should independent retailers add an online presence, and if so, what should a retailer keep in mind? An examination of online dynamics and lessons from other industries
- Diamonds vs LGD: Which will emerge stronger after the COVID-19 crisis is over?
- What role will the DPA play, and will it rise to the occasion?
- What should the diamond industry’s marketing narrative be during and after the COVID-19 era and some thoughts on what form it should take
- By how much did rough prices really fall?
- Are the banks nervous about the diamond industry, and what is the meaning of being leveraged during a major economic crisis?
- Government support, and lack thereof, around the world
AWDC Webinar – Diamond Market Q&A with Edahn Golan
The surprising results of our polls
An audio-only version of the webinar:
Or download the audio-only MP3 file here.