Stories & insights

Collates findings from the company’s research undertaken during the pandemic and highlights the rising importance of trust and online activity.

De Beers Group today released its 2020 Diamond Insight Report, collating key findings from the company’s consumer research undertaken during the Covid-19 pandemic and highlighting new and accelerated trends as consumers adapt to a new normal.

Based on the outcomes of monthly sentiment surveys with US consumers from March to August, three clear findings emerged: consumers are adapting to the new normal, demand for diamonds continues and diamonds retain broad appeal across consumer segments.

The report also looks at key macro trends that will shape the future of the jewellery sector, based on expert insights from guest contributors. The importance of building trust with consumers, particularly in a virtual world, and providing a seamless ‘phygital’ experience that embraces social media commerce were recurring themes. In addition, technologies such as augmented reality and virtual reality that help consumers bridge the physical and digital worlds when buying luxury goods, particularly those where the ‘try on’ component is a key part of the purchasing journey, will continue to rise in prominence.

Bruce Cleaver, CEO, De Beers Group, said: “This has been a year like no other, with wide-ranging implications for diamond jewellery retailers all around the world. It was only fitting that this year’s Diamond Insight Report takes a holistic view of how the pandemic has shaped the consumer psyche in 2020 and, most importantly, how diamond jewellery brands and retailers can adapt and evolve their consumer engagement strategies to embrace the emerging opportunities in this new normal.”

The report also includes a diamond value chain dashboard based on 2019 data, which found that global consumer demand for diamonds grew slightly in 2019, up by 0.5 per cent to US$79 billion. This was supported by four per cent growth in the US, which accounts for almost half of global diamond jewellery sales, and three per cent growth in Japan. The strong growth in the US and Japan in 2019 was dampened by the impact of currency exchange rates in other markets.

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Notes to Editors

De Beers Group’s 2020 Diamond Insight Report is available to download here.

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About De Beers Group

Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of the De Beers Group strategy as it develops its portfolio of brands, including De Beers Jewellers and Forevermark, and other pioneering solutions, such as recently launched diamond sourcing and traceability initiatives GemFair and Tracr. De Beers Group employees are committed to ‘Building Forever,’ a holistic and integrated approach for creating a better future – one that is fairer, safer, cleaner and healthier; where safety, human rights and ethical integrity continue to be paramount; and where communities thrive and the environment is protected. De Beers Group is a member of the Anglo American plc group. For further information, visit www.debeersgroup.com.