US Di­a­mond Jew­ellery De­mand Reaches $41 Bn

Solitaire - - CONTENTS -

To­tal di­a­mond jew­ellery de­mand from US con­sumers in­creased 4.4% in 2016 to ex­ceed $40 bil­lion for the first time, ac­cord­ing to in­dus­try in­sight data pub­lished by De Beers.

While slower US GDP growth in the first quar­ter of 2017 is likely to have im­pacted di­a­mond jew­ellery de­mand in the short term, the US has recorded five years of con­sec­u­tive de­mand growth. US con­sumers now ac­count for roughly half of all di­a­mond jew­ellery pur­chases glob­ally – a level not seen be­fore the fi­nan­cial cri­sis.

Although bri­dal di­a­mond jew­ellery con­tin­ues to be the foun­da­tion of de­mand in the US, more fre­quent ac­qui­si­tions and a higher value of spend from sin­gle women helped drive de­mand. Mean­while, self-pur­chase trends in­creased among both sin­gle and mar­ried women.

Around 57% of self-pur­chased di­a­mond jew­ellery is ac­quired by mar­ried women, while a third is from mil­len­ni­als. Re­tail­ers also re­ported high lev­els of con­sumer in­ter­est for multi-di­a­mond pieces.

The data showed that con­sumers are spend­ing more per piece on di­a­mond

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