Let’s Invest in Marketing Natural Diamonds!
The ND industry is undergoing a very challenging time Recently Yoram Dvash, President-The World Federation of Diamond Bourses (WFDB) call on industry fraternity to Invest in Marketing Natural Diamonds under his heading; Let’s Invest in Marketing Natural Diamonds (ND)! The diamond industry is undergoing a very challenging time, with demand, especially for natural diamonds, declining significantly. The Chinese market has slowed down almost to a standstill and economic developments in the United States have raised the cost of living and left many with less disposable income. Moreover, natural diamonds are being challenged by synthetics, which have been promoted heavily at the retail level. Let’s look at the origins of this crisis. There has not been a major generic marketing campaign for natural diamonds for close to 20 years, when De Beers stopped promoting, A Diamond is Forever. An entire generation of consumers has come of age without having been exposed to promo...