The year 2020 has just started, and the whole world caught its breath to see what it will bring. Likewise, the diamond industry is getting more and more unpredictable. In the given circumstances, market participants and observers are getting ready to face all the changes and challenges possible. There are some great news, though. In this generally high volatility, we’ve found some predictable things to make you feel safe. Here are the top 3 tendencies that are going to determine the world of diamonds in 2020!
#1 The number of sales is slowing, but their quality is steadily increasing
Nowadays, people are cautious about the decision to get married. Consequently, young adults ask for less diamond rings than they used to request just a decade ago. Among other negative factors that affect the diamond market, weak production power, shortages in investment, and imbalance of supply and demand cause big troubles.
Given the fact that nothing seems to change and stop diamond trading from slowing down, big jewelry companies will keep investing tremendous sums in advertising. In particular, marketing specialists will seek new ways to engage audiences from the developing economies – as they did in “Hand-in-Love” campaign in China and “The Most Precious Gift” advertising in India.
At the same time, the content of these commercials is likely to be revised. People expect diamond suppliers to be honest and authentic – and the latter will surely try to address this demand.
#2 Women have gained more power in determining diamond purchases
An old-fashioned tradition of a groom-to-be to scour around jewelry shops in pursuit of a one-and-only diamond engagement ring is steadily fading away. In contrast, girl power conquers the diamond market.
A true woman knows what she wants – especially when it comes to a real diamond. And even more – she doesn’t need a marriage proposal or even a boyfriend to gift herself a piece of precious jewelry! That’s the reason why you’ll see many advertising campaigns with diamonds appealing to ladies directly.
By the way, brides are likely to buy themselves bigger diamonds than grooms generally choose for proposal. Oh what times! Oh what customs!
#3 Buyers will still avoid bloody diamonds
Sustainability and environmental friendliness will surely turn into global trends this year. And when it comes to diamonds, this tendency will take the appearance of the demand on conflict-free diamonds. This means customers will keep avoiding at any cost precious jewels mined in war zones of Sierra Leone, Angola, and the Democratic Republic of Congo.
On this wave, lab-grown diamonds got the chance to gain popularity. These artificial gemstones, together with recycled jewelry, will impose an extra challenge for the industry. At the same time, technological enhancement in a form of blockchain and omnichannel know-hows promises to strengthen the positions of natural diamonds. In fact, they can contribute to the traceability of origin significantly.
Are you interested in diamond investment this year? Contact Diamond Registry! Our specialists keep track of all the diamond prices and are capable of finding the best diamond for the best price. Be sure: our offerings are conflict-free, GIA-certified, and can cater to any design you have in mind. Just fill our request form, and we’ll reach you within minutes!