According to www.nationaljewelernetwork.com, while the trend of buy-backs recently reared its head in the diamond world (read: Cash for Diamonds USA), experts recommend that sales professionals focus on the enduring value of the diamond jewelry purchase. A big fourth-quarter marketing push expected from De Beers might give the category a much-needed boost for the holiday season.
Design Trends: Given the economic slump, core staples, including classic diamond studs and solitaires, as well as fashion-forward hits such as diamond hoop earrings and micropave pieces, are expected to continue to do well at the sales counter, but that doesn't mean designers are playing it completely safe. Artisans have been reinvesting the gemstone classic in new ways, such as slicing and setting rough stones and playing up the natural hues of colored diamonds.
Supply and Demand: Earlier in the year, the Diamond Trading Co. was exploring ways to deal with the decrease in demand for rough diamonds. One option - making surplus rough available to the market after sightholders took their pick - never came to fruition, suggesting that a revival in the market might have made it an unnecessary move.
Merchandising: Participants in National Jeweler's 2009 Holiday/Q4 Inventory and Marketing Survey indicated they're keeping inventories lean and stocking up on bridal and lower price-point pieces, with a whopping 72 percent saying they will stock slightly or significantly more sterling silver jewelry in the fourth quarter. Only 23 percent said they planned an increase in their diamond jewelry offerings for the holidays, tying with loose diamonds and bridal, but ranking below custom jewelry. But, asked which products they will market most heavily in quarter four, the highest percentage of respondents said diamond jewelry.
Marketing: For fourth-quarter 2009, the Diamond Trading Co. will tap into the sentiment of diamonds as gifts of love, promoting the emotion behind diamond jewelry pieces. Also revving up its marketing engines is a new "International Diamond Board," formed after diamaintaires met at the 2008 St. Petersburg Forum. The board's global mission is to create and sustain strong consumer demand for diamonds worldwide through effective category marketing. Among the plans it has are implementing communication and public relations activities aimed at sustaining consumer confidence.
Savvy retailers are filling in their holiday inventory with perennial profit leaders such as diamond hoops and line bracelets. But those seeking the unusual won't be disappointed. Designers are having a heyday with diamond hues, integrating everything from light champagne to midnight-black stones into their designs. As for rough cuts, they're far from rough-and-tumble: These natural beauties exude a quiet glamour that is highly apropos for low-key times.
