De Beers Group released its Diamond Insight report
De Beers Group released its Diamond Insight report
De Beers Group released the Diamond Insight report summarizing diamond jewelry sales for 2017. The report shows a record $ 82 billion in sales, with two-thirds of the acquisitions made by a young audience. A special review of the purchasing patterns of the Millennium Generation (aged 21-39) and the "Z-generation" (ages 18-20) showed that the young audience has an excessive buying aptitude to invest in.
Young buyers are interested in purchasing under their own terms - their knowledge of the worlds of diamond jewelry design, quality, pricing and brands is greater than previous generations. Alongside these, they also require transparency, authenticity, uniqueness and a positive social impact from the goods they buy. Social networks such as Facebook and Instagram are the center of their life, and are a significant factor in choosing and purchasing the jewelry.
According to De Beers, these conclusions are at the heart of the marketing of the Diamond Manufacturers Association. The President of the IDE, Mr. Yoram Dvash, commented on the report and said: "The conclusions of the report indicate a positive trend, and prove that the steps taken by the DPA are producing good results and we must continue to follow the trend and see where it is developing. At the same time, this is a call to the diamond industry to examine its next steps."
It seems that the new approach that De Beers presents in the report emphasizes the perception of buyers in the future, while understanding that the sales decomposition for the younger generation is a required move, and it is possible that there is the future of the industry and its development on a global level.
