Consumer demand for diamonds is the foundation of our business – without it we would have little opportunity to create value. So we must be in a position to understand, shape and respond to consumer trends.
In particular, we need to be able to respond to changes in consumer preference, to stimulate demand and continue to ensure confidence in our products (for more information on confidence, see Business Integrity and Diamond Pipeline Integrity).
During 2016, we invested around US$120 million in marketing across our core consumer markets. Initiatives involved a mixture of proprietary and partnered campaigns, including a programme in India co-funded with the Gem and Jewellery Export Promotion Council.
We also supported the Diamond Producers Association (DPA) on developing the new, global ‘Real is Rare’ communications platform. This was the first diamond category campaign in more than five years and the first ever to involve the DPA.
Real is Rare was underpinned by a major research exercise, incorporating feedback from 75,000 Millennials (aged 18-34) that was gathered for the De Beers’ Diamond Insight Report. This showed that there is an opportunity for diamonds to represent the rare, precious and real connections that Millennials desire.
It also highlighted that Millennials tend to look for more from the goods they buy, not least a positive societal impact. They actively seek out brands they can trust. Such findings strengthen our commitment to responsible sourcing and pipeline integrity.