Vegas Shows Reveal Stable, Fast-Changing Market

(Rapaport) - As a bellwether for the U.S. jewelry market and global diamond industry, this year’s Las Vegas shows met the trade’s conservative expectations. While foot traffic and diamond trading were slightly slower than previous years, jewelry sales were resilient. The good news is the U.S. continues to support the global industry. In fact, it’s just about the only growth market at the moment. Less encouraging were the numerous factors that weighed on sentiment. Conversations with diamond dealers and jewelers revealed concern about lagging demand for diamond jewelry, the rise of synthetics and the challenge of how to effectively market to millennials. Traders also recognized the impact a contentious U.S. presidential election might have on consumer confidence and economic stability.