Previous News:
October 2021
September 2021
August 2021
July 2021
June 2021
May 2021
April 2021
March 2021
February 2021
January 2021
December 2020
November 2020
October 2020
September 2020
August 2020
July 2020
June 2020
May 2020
April 2020
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
May 2016
April 2016
December 2015
March 2015
January 2015
September 2014
August 2014
July 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
January 2013
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011

Evolving Role and Perception of Women in Society Creates New Sources of Diamond Jewelry Demand


New research published today by De Beers Group in its latest Diamond Insight Report reveals that shifting relationship dynamics, women’s expanding roles in society and changing perceptions of femininity are creating new motivations for diamond jewelry acquisitions.

Social and economic changes are leading to expanded symbolism for diamond jewelry, record levels of self-purchase and the establishment of new consumer types.

The Diamond Insight Report 2017 highlights the emergence of three key trends that are having a direct impact on how and why people buy diamond jewelry:

· First, changes to family and personal relationships are leading to diamond jewelry being purchased and given to symbolize a wider range of ‘moments’ in a life beyond those directly connected to relationship milestones. As marriage generally comes later in life, and as it is seen as a union between two equal individuals, women are receiving diamonds for multiple occasions both before and after marriage. Alongside traditional relationship milestones, diamond jewelry is increasingly being bought to celebrate occasions such as a new job, a promotion and personal achievements more broadly.
· Second, women’s increased economic participation and higher earnings are supporting growth in women buying diamond jewelry for themselves. More than a quarter of women’s diamond jewelry bought in 2016 in each of the four main consumer nations (the US, China, Japan and India), representing more than US$18 billion in value, was acquired through the self-purchase route. In Hong Kong, female self-purchase accounts for the majority of diamond jewelry sales.
· Third, a new perception of femininity is emerging that is more closely associated with strength and confidence, alongside more traditional attributes such as caring and nurturing. This is leading to diamonds being purchased to symbolize a wider range of emotions, such as joy, optimism and pride, and to the emergence of a new class of consumer: the mature single woman. Meanwhile, feminine success is increasingly being defined through qualities such as uniqueness and personal meaningfulness, and there is an enhanced focus on the importance of experiences, leading to greater interest in purchases that can reflect these characteristics.

Bruce Cleaver, CEO, De Beers Group, said: “These societal and economic changes will have direct consequences for a wide range of industries, but they are especially exciting for the diamond sector. As diamonds are among the most powerfully symbolic purchases, as they lend themselves to individual design, and as they are effectively a hybrid of product and experience, the new trends present a major opportunity to build on the existing base of demand.

“While the giving of diamond jewelry as a token of love and commitment continues to constitute the majority of purchases, it’s encouraging to see these additional sources of demand emerge. It’s also great to see women buying more diamond jewelry for themselves in recognition of their achievements, or simply because they want to and they can. The diamond industry now needs to focus on what female consumers are telling us about how they feel about diamonds and make sure that products and buying experiences match their expectations.”

AT: 09/15/2017 11:58:26 AM   LINK TO THIS NEWSLETTER
0 Comments:

Post a Comment
 
Comments are closed.
Copyright © 2024

Sitemap | Privacy Policy