Image credit: De Beers
Although consumer confidence and spending has weakened in the United States due to Covid-19, diamonds will have a unique role to play in people’s lives in a post-lockdown world as they seek to celebrate their most meaningful relationships, according to a study carried out by De Beers.
The findings are the first in a series of Diamond Insight ‘Flash’ Reports that De Beers will publish to share insights regarding the evolving consumer perspective and what it means for diamonds as the world passes through the stages of the COVID-19 crisis.
Diamonds were seen as the top gift for symbolising intimacy, connectedness and love among both men and women, with the primary desire for purchasing being a reflection of gratitude and acknowledgement during the current crisis.
“While it will take some time for the market to recover fully, we hope these insights will assist large and independent jewellery retailers alike to understand the evolving consumer perspective as we move through and emerge from the crisis,” said De Beers chief executive Bruce Cleaver.
The COVID-19 crisis and associated lockdowns had caused people all around the world to re-evaluate aspects of what’s important in their lives and have reinforced the value of personal relationships, he said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
