Total diamond jewellery demand from US consumers increased 4.4% in 2016 to exceed $40 billion for the first time, according to industry insight data published by De Beers.
While slower US GDP growth in the first quarter of 2017 is likely to have impacted diamond jewellery demand in the short term, the US has recorded five years of consecutive demand growth. US consumers now account for roughly half of all diamond jewellery purchases globally – a level not seen before the financial crisis.
Although bridal diamond jewellery continues to be the foundation of demand in the US, more frequent acquisitions and a higher value of spend from single women helped drive demand. Meanwhile, self-purchase trends increased among both single and married women.
Around 57% of self-purchased diamond jewellery is acquired by married women, while a third is from millennials. Retailers also reported high levels of consumer interest for multi-diamond pieces.
Continue reading your story on the app
Continue reading your story in the magazine
De Beers Diamond Jewellers Revamps Harrods Store
De Beers is proud to continue its legacy as the ‘Home Of Diamonds Since 1888’ with a refined new store in the Fine Jewellery Room at Harrods.
JJS Gears Up For December Show
The Jaipur Jewellery Show (JJS), the country’s largest combined business-to-business (B2B) and business-to consumer (B2C) jewellery show, will be held from December 22nd to 25th at the Jaipur Exhibition and Convention Centre (JECC) in Sitapura.
HK's 4,455+ Employees Take Part On International Yoga Day
Hari Krishna Group organised a yoga programme on 21st June 2017, International Yoga Day in its factory premises in Surat, and sales offices at BKC and SEEPZ, Mumbai.
GJEPC To Set Up IIGJ Centre In Udupi
The Gem & Jewellery Export Promotion Council (GJEPC) laid the foundation stone for a premier gem and jewellery training institute in Udupi, Karnataka, on June 16th.
US Diamond Jewellery Demand Reaches $41 Bn
Total diamond jewellery demand from US consumers increased 4.4% in 2016 to exceed $40 billion for the first time, according to industry insight data published by De Beers.
Business In The GST Era
Bullion analyst Sanjiv Arole evaluates the pros and cons of the recently implemented Goods & Services Tax (GST).
Signet Jewelers Appoints Virginia C. Drosos As CEO
Signet Jewelers Limited, the world’s largest retailer of diamond jewellery, appointed Virginia “Gina” C. Drosos, who has served as a independent director of the company’s board since 2012, as the new chief executive officer of Signet, effective August 1st 2017.
GJEPC Opens Common Facility Centre In Palanpur
The Gem & Jewellery Export Promotion Council (GJEPC) said the second Common Facility Centre (CFC) was inaugurated in Palanpur by Nirmala Sitharaman, minister of state (independent charge) for commerce & industry, and Haribhai Chaudhary, minister of state for Micro, Small & Medium Enterprises (MSME), on July 10th.
Jewellers For Hope Raises ₹1 Crore For Three NGOS
The GJEPC hosted a by-invitation-only charity dinner, Jewellers for Hope, on the sidelines of the show to raise funds for a noble cause.
Small Is Big
Lightweight jewellery demand has grown 20% in the last year. Self-purchases, gifting and work wear drive the demand. Solitaire International interviewed retailers and designers to check out what’s hot in this category.
Crossing Borders With Crypto
A Mexico-based startup says it can send remittances from the U.S. cheaper and faster
SPACE JUNK FORCES SPACEWALK DELAY, TOO RISKY FOR ASTRONAUTS
NASA called off a spacewalk Tuesday because of menacing space junk that could puncture an astronaut’s suit or damage the International Space Station.
We're at the Tipping Point of Electrification
Everything is Going to Change — the Only Question is How Quickly
MUSIC OF THE SPHERES
Astronaut Chris Sembroski took a Martin ukulele to space and discovered the joy of making music in microgravity.
NASA SEEKS IDEAS FOR A NUCLEAR REACTOR ON THE MOON
If anyone has a good idea on how to put a nuclear fission power plant on the moon, the U.S. government wants to hear about it.
SAMSUNG EXPECTED TO BUILD $17B CHIP FACTORY IN TEXAS
Samsung is planning to build a $17 billion semiconductor factory outside of Austin, Texas, amid a global shortage of chips used in phones, cars and other electronic devices.
THE END OF CALIFORNIA?
The American Dream never gleamed any brighter than in the Golden State. But these days, that warm glow might just be a dumpster fire.
WHAT'S UP? (AND WHAT'S DOWN?)
What’ll happen to the price of advertising? Will more female founders get funded? We had Good Judgment’s superforecasters answer these questions and more.
Two-Way Conversations Are the Future of Recruiting
To hire the right people for today and tomorrow, it’s time to stop asking candidates to prove why they’re right for the job.
WHERE TO INVEST IN
Investors will have to curb their enthusiasm as markets get back to normal.