De Beers Group "Diamond Insight Report 2020"

The De Beers Group released the "2020 Diamond Insight Report" on November 13, 2020. This report collates the main results of the company’s consumer research during the COVID-19 pandemic and highlights the impact of consumers adapting to the new normal New trends and accelerating trends.

According to the results of the monthly sentiment survey of American consumers from March to August 2020, three obvious trends were found:

· Consumers are adapting to the new normal;

· Diamonds are still just needed;

· Diamonds are very popular among various consumer groups.

Bruce Cleaver, CEO of De Beers Group, said: "This year is an unprecedented year, which has had a wide-ranging impact on diamond and jewelry retailers around the world. This year's "Diamond Insights 2020" comprehensively explores how the new crown epidemic will occur in 2020. To shape consumer psychology, the most important thing is how diamond jewelry brands and retailers should adjust and develop their consumer interaction strategies to meet new opportunities under the new normal."

The 2020 Diamond Insight Report has four key points:

1. Most consumers in China, the United States and India are still relatively optimistic, and the industry needs to adapt to the "new normal" after the epidemic.

2. The global demand for diamonds continues to grow, and consumers are generally open to the marketing and promotion of diamonds.

3. Diamond jewellery appears widely in the consumer demand list, and the interest of high-income people in diamonds has not diminished.

4. Consumers are ready to return to offline physical stores, but they are cautious about consumption. Among them, young people prefer good designs.

The report also listed a quick overview of the diamond value chain based on 2019 data, and found that global consumer demand for diamonds increased slightly by 0.5% in 2019, reaching $79 billion. The US market, which accounts for nearly half of global diamond jewelry sales, increased by 4%, and the Japanese market increased by 3%, contributing to the above increase. In 2019, although the U.S. and Japanese markets achieved strong growth, the currency exchange rates of other markets inhibited overall performance.