Image credit: De Beers
The group stated in its fourth diamond insight 'flash' report that the pandemic is likely to influence consumer design preferences in three key areas: enhanced appreciation for craftmanship and bespoke design, a greater desire for designs and materials that reference the natural world, and a preference for investing in timeless pieces.
"As we head into what will be a crucial selling season for many diamond jewellery retailers, understanding key design trends during a time of profound change and uncertainty will be important,” said De Beers chief executive Bruce Cleaver.
“The pandemic has accelerated some trends that were already underway, such as the desire for craftmanship, authenticity and sustainability, while also generating increased consumer interest in the enduring beauty of the natural world and in classic designs that will stand the test of time.”
The report also includes the findings of the group's latest consumer research study, completed in late August, which found that consumer confidence in the US was starting to recover compared with the previous month.
In the latest research wave, said De Beers, about 65% of Americans said they were now more inclined to give a significant gift to someone they loved compared with how they felt pre-pandemic, and for those in a relationship, this increased to 77%.
Also, 55% of consumers said they had gone out shopping or socialising in the past month for the first time since the pandemic began.
Consumers indicated that they prefer to invest in a diamond ring ahead of a diamond pendant and stud earrings.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
