Natural Diamond Sales Are not Optimistic: Only 2% Growth This Year

According to the news on December 28th, diamond may be a woman's love, but the kind of love can not reverse the falling sales situation of " expensive stone". According to the latest research report from Bain & Company (Bain & Co.), the sale of natural diamond is not optimistic, the highest retail sale of diamond jewelry has rosen only 2% this year, which is lower than the growth of 4% last year.

A number of factors contribute to the current situation of diamond sales, including weak luxury market, the change of consumers' attitudes, and the decline in China's market demand, etc. "In the second half of 2014 and first half of 2015, the whole diamond industry showed a kind of uncertainty." Bain said. The report indicates the slowing of China's economic growth is the "primary reason" that results in the uncertainty.

According to the report, as the largest diamond market, in the first nine months of this year, the retail sales of China diamond fell by 9% compared with the same period last year. In addition to the decline in the economic growth, China's stock market volatility leaded to the decline in consumer confidence in June, which also strikes the diamond market.

Bain said that despite facing the same the long-term challenges, the diamond market growth of United States will help offset the impact brought by the weak Chinese market. The challenge facing the market in the United States lies in "in the developed market, luxury goods are losing the attraction of ambition and status symbol". It has been outdated to use them to show their wealth. In addition, the whole industry still poorly understand the consumption taste of the next generation.

From this point, a survey about The Knot 2015 courtship and marriage jewels finds that 8% of brides’ wedding rings do not include "precious stones". The proportion has been increased compared with 6% of 2013. But for American couples, diamond is still the first choice: 84% of brides have diamonds or diamond decorations.

According to the survey from The Knot, the spending of American bridegrooms on the engagement rings is $5978 on average , to reach the highest, and in 2013, the figure only reach $5403 on average.