De Beers Consumer Sentiment Survey Optimistic

Retail and Consumer Confidence
12/08/2020 07:53

A recent survey, conducted by De Beers, gauging consumer sentiment among 2,800 men and women aged 20 to 65 with household incomes of at least US$75k or similar parameters in the US, India and China, concludes that while the COVID-19 pandemic continues to weigh heavy on sentiment, respondents feel they are returning to (a new) normal and regaining confidence, with the most positive feedback coming from Chinese respondents.

Looking ahead at the 2020 Holiday season, the study finds that the intention to buy diamond jewelry is high, 60% of men in the US say they plan to purchase diamond jewelry for a significant other, while in China and India, 80% of men and women say they intend to buy diamond jewelry for themselves or someone else, with under 35 professionals driving the demand, the report says. More importantly, the report concludes that for consumers the two key elements which determine why people intend to buy are meaning and beauty, which De Beers says aligns perfectly with the timelessness of classic diamond designs as well as trusted brands.