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The Diamond Shopping Experience: Why Setting the Mood in Your Store is Crucial to Making a Sale

The Diamond Shopping Experience: Why Setting the Mood in Your Store is Crucial to Making a Sale

You are probably familiar with the mob scenes at retail stores in the U.S. as doors open for Black Friday shopping. As the year-end shopping season begins, stores offer low prices on many items. All over the U.S., mobs scramble for a limited number of heavily-discounted ‘door-crasher’ deals. This mayhem made me think about jewelry stores and the jewlery shopping experience. 

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Volume Reduction or a Price Reduction, To Be or Not to Be

Volume Reduction or a Price Reduction, To Be or Not to Be

There are some that would claim that the key step to solving the current crisis in the diamond industry is to drastically reduce the price of rough diamonds, specifically by the main diamond producers. This erroneous belief reveals some widespread confusion about the diamond market. 

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Retail Economics: Why consolidation could be helping the entire diamond retail industry

Retail Economics: Why consolidation could be helping the entire diamond retail industry

Profit margins for the diamond industry’s midstream manufacturers have been continually eroding. Over the past few years, rough diamond prices have climbed steadily, while polished diamond prices have declined. Ultimately, the consumer determines the price at which the cutters can sell their polished output. The consumer’s decisions at the retail level reverberate back through the pipeline and should affect the decision making of all those involved in our industry.

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Diamond Banking, Not A Level Playing Field

Diamond Banking, Not A Level Playing Field

What role does bank financing play in today’s diamond industry? Bank financing is the lifeblood of the industry. Without it, there would be no money for exploration or new store openings.

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The Retail Titans of the Diamond Industry

The Retail Titans of the Diamond Industry

As I have previously mentioned here, diamond retailers are currently undergoing a period of consolidation that has been underway for years. Small independent jewelers are slowly disappearing, replaced by much larger chain stores that are taking significant market share away from the independents.

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The diamond industry pipeline starts with mining, then rough trading, manufacturing, jewelry setting and finally retailing. It may look like a short and efficient journey, however it is anything but t...
It might surprise people to know that there are only around 50 active diamond mines in the world. These mines never seem to be found on the outskirts of major cities. Instead, they are usually located...
We have seen how the industry has undergone significant changes over the past 20 years and how smaller companies have emerged to play an increasingly important role in supplying rough diamonds to the ...
When I discussed fancy brown diamonds in last week’s article, I stated that unlike other fancy color shades that are extremely rare in nature, brown diamonds are plentiful and therefore command much l...
In the last two decades, much has been said about an impending demand vs. supply imbalance in the diamond industry. Huge mines discovered over the past 40 years are nearly mined out, some argue, and n...
A major diamond rush, located in Lüderitz (in the former German colony of Deutsch-Südwestafrika - German South West Africa) is among Namibia’s most famous diamond sites. In 1907, the Germen railroad w...
When most people hear about diamond mining, they think of South Africa, where diamonds were discovered in 1866 in the Kimberley region. A 15-year-old boy discovered the now-famous 21.25-carat Eureka D...
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