Will Consumer Confidence Create Desire for Diamonds?

Market Analysis
12/06/2015 09:51

Industry analyst Ari Kravitz presents the most salient and intertwined themes that emerged from the Rapaport conferences at JCK Las Vegas. A few key takeaways: desire for diamonds is largely dependent upon confidence in the product; this desire must be instilled and fostered; this involves improving the quality of retail and marketing content and ensuring a level playing field; and finally, confidence can only be safeguarded by reliable grading and the assurance of responsible sourcing.

“All value in the diamond business emanates from the consumer desire for our product. Without that consumer desire, there would be no investment in exploration, there would be no investment in new mines, no one would build any stores, and none of us would have anything to do because there would be no one willing to pay for it.” - Stephen Lussier, CEO of De Beers Forevermark, at the annual Rapaport Breakfast in Las Vegas, May 31, 2015.