A remarkable thing happened during and after the pandemic: Jewelry sales went through the roof. Personal consumption of jewelry reached $94.6 billion in 2021, up over 50% from the $62.3 billion spent in 2020, according to the Bureau of Economic Analysis’ (BEA) underlying data. Across the board, American consumers bought a ton of stuff in […]
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Diamond Jewelry Industry Faces a New Threat: Russia Sanctions
Mere weeks ago, Bain and the Antwerp World Diamond Center (AWDC) issued their annual “Global Diamond Industry” report, recounting the diamond jewelry industry’s “brilliant recovery” from the pandemic downturn. Covering the entire diamond value chain from production to consumer sales, it reported, “In 2021, revenue increased 62% [year-over-year] in the diamond mining segment, 55% for […]
Diamond Jewelry Sales Are Booming, but Can It Last?
Despite the disruptions from the pandemic, declining marriage rates and the growing availability of lab-grown diamonds as a less expensive but structurally and chemically identical substitute for the natural alternative, the market for natural, mined diamond jewelry has barely skipped a beat. Independent research firm, Edahn Golan Diamond Research & Data reports that overall U.S. […]
The Choice Between Lab Grown and Natural Diamonds Is Becoming Clearer
This year Valentine’s Day fell nearly smack dab in the middle of the peak period for diamond jewelry sales, which extends from the December holiday season when about 20% of engagements occur through Mother’s Day, this year on May 9. By all accounts Holiday 2020 was a strong one for diamond jewelry sales, especially for […]
Diamonds Disrupted: How Man-Made Diamonds Will Disrupt The Mined-Diamond Industry
The mined-diamond industry is mightily concerned that the rapidly growing man-made diamond industry is on a course to disrupt their business. At least that is the conclusion I draw from the Diamond Producers Association’s new marketing campaign “Real Is Rare.” The DPA was organized in May 2015 by seven of the world’s leading diamond companies. Its new […]