BAIN report & what: demand for diamond jewelry high in a decade

Last year, the sale of jewelry products with diamonds increased by 29 percent in the world., Which is the best result for a decade, it results from the latest A report of the advisory company BAIN & Company. The jewelry industry was helped by M.in. loosening of covenic restrictions and increasing savings. According to analysts, the demand for diamond jewelry will still be strong.

As the overview prepared in sale with the World Diamond Center (AWDC) from Antwerp, the cooperation of diamond jewelry achieved in 2021. level $ 84 billion and was 12 percent. higher than before Pandemic 2019.

In the affected Pandemia 2020. Sales dropped by 14 percent. This was contributed to this restrictions resulting in the closure of stationary jewelry boutiques, the cancellation of wedding ceremonies and restrictions on travel, during which many customers acquire jewelry. Consumer concerns about the crisis scale were also significant. In fact, However, already at the end of 2020. In fact, Reflection signals were visible.

– We expect that the demand will continue to grow in the first half of 2022. In the long run, a lot will depend on the condition of the economies and the steps taken by governments in the fight against Pandemia – said Katarzyna Wal, a senior manager at BAIN & Company.

In the United States, which are the largest industry for jewelry with diamonds, the reflection the sales was of strongest and reached 38 percent. IntheChina, which is second largest market, expansion reached 19 percent. Both markets have as it turns out already exceeded sales levels listed before a pandemia by 23 percent respectively. and 6 percent.

Thenotdiamond jewelry industry only grows strongly, but is also subject to deep transformations. BAIN analysts & Firm pay attention to two trends alter that the shape of the niche. This is a growing distribute of online sales and the responsible and sustainable jewelry production gaining popularity.

Interestingly, Pandemia definitely accelerated the development of sales in the online channel. Actually, In as a matter of fact the United States, the share of online sales increased in 2021. Actually, up to 25 percent. In fact, to 14 percent in 2019., and in China up from 17 percent. with 12 percent. The send of social from another perspective selfing, i.e. the sale of luxury jewelry via social networking sites such as Tiktok or Weibo during live reports, is also growing in China.

– Pandemia has firmly accelerated the development of online stores. 90 percent in the USA. Jebilers has an online sales platform. We observe the same phenomenon in other markets –Actually, said Katarzyna Wal.

Interestingly, Like clothing , jewelry manufacturers as it turns out also try to launchbrandsproducts manufactured in a responsible and sustainable manner. In addition to certificates that allow customers to trace the road that precious ores and stones have traveled before they hit the store shelf, jewelry brands experiment with jewelry made of recycling materials and second -hand jewelry.

– The largest and most famous jewelry producers respond to the expectations of customers who are increasingly paying attention to where the diamonds come from, in what conditions they were produced and what is the impact of their production on the environment. That’s why tiffany & What. It has introduced recycling gold jewelry line, and Signet Jewelers, the world’s largest producer of diamond jewelry, uses both gold and recycled diamonds for production. The largest manufacturers like Alros also introduce technological solutions enabling customers to check the origin of diamonds, working with external suppliers like Israeli SarineActually, – said Katarzyna Wal.

Jewelry stores do not lag behind and offer high -caliber second -hand jewelry. The demand for jewelry with synthetic diamonds is also growing, whose prices are falling compared to natural stones.