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[…]
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[…]
With the massive growth in online shopping year after year, it may seem that the internet is the store of the future. However, according to Forbes, brick-and-mortar stores account for 90% of retail sales in North America. While ‘e-commerce’ is a hot buzzword in retail sales, the in-store experience is still the leading driver for[…]
Fact: India is the global center of diamond manufacturing. The vast majority of the world’s rough diamonds (85%) are polished in India. With so much focus and fanfare on the manufacturing side of the industry, it is important to take note of changes occurring in the Indian diamond and jewelry retail sector as well.
“A Diamond is Forever”. Arguably one of the most famous and successful advertising campaigns in history set the highest of standards for this valuable gemstone. Scientists now believe there are a quadrillion tons of diamonds buried in the earth, and outer space is swarming with diamonds. Each year, approximately 133 million[…]