diamond-retail

Here we are again with a recap of the third instalment of the Rapaport Diamond Tech Podcast series, proudly sponsored by Sarine, and this time, featuring a guest appearance by our CEO David Block.

For many decades, the diamond pipeline has stretched a long road from the mine to the consumer. From upstream, where the diamond is mined and sourced, to midstream, where is it planned, cut, and polished, all the way downstream, where it is traded among wholesalers and retailers, and finally marketed to the customer. The journey[…]

The road from rough diamond to polished jewel is long and winding.

From its birth at the mine to the jewelry setting in the retail store, a diamond passes through many hands, processes, and stages.

Tracing the true provenance of diamonds has always been tricky, if not near impossible. And in recent years, traceability has become[…]

At the start of a fresh decade, the Millennial generation is moving into mid-adulthood, and a new generation, Gen Z, is coming of age. As Gen Z, which makes up 74 million of the US population, grows into young adults, no industry will remain untouched by their values, attitudes and spending habits. And the same goes for the[…]

The world has gone digital, well and truly. From smartphones to smart homes, online shopping,GPS and banking apps, there’s no turning back. And now, it’s happening in jewelry retail too.

But to understand where we are, let’s start at the beginning. The diamond and jewelry industryis, in fact, an ancient one. The concept of[…]

We live in the age of “Big Data”. From online shopping, to GPS and digital maps, wearable tech, and urban planning, data is the fuel that keeps our lives running.

From rough diamond in the mine, to sparkling engagement ring in the jewelry store, every diamond undergoes a complex process of development. It travels many thousands of miles, touches many hands, passes through multiple planning and manufacturing devices, changing in structure and form at every step of the way.

The customer experience is changing, and mobile internet technology is a root cause. A 2018 US study showed that 59% of smartphone users use their device while shopping to research and compare products. In store, the online and offline worlds are merging. And that’s where AR comes into the picture.

Diamond retailers are facing a new generation of customers. Today’s consumers demand a whole lot more during the purchase process. Whether it’s more information about the product, its provenance, quality and value for money, or whether it’s a deeper, more engaging experience of the product itself, both in-store and online,[…]

Recently, the diamond industry has been transformed by a need for traceability throughout the diamond journey, compelling sellers and retailers to look for ways to reliably communicate the provenance of each diamond to consumers. The buying power and social responsibility of younger customers is driving diamond retailers to find[…]