Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

De Beers : EVOLVING ROLE AND PERCEPTION OF WOMEN IN SOCIETY CREATING NEW SOURCES OF DIAMOND JEWELLERY DEMAND

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/14/2017 | 01:14am CET

New research published today by De Beers Group in its latest Diamond Insight Report reveals that shifting relationship dynamics, women's expanding roles in society and changing perceptions of femininity are creating new motivations for diamond jewellery acquisitions.

Social and economic changes are leading to expanded symbolism for diamond jewellery, record levels of self-purchase and the establishment of new consumer types.

The Diamond Insight Report 2017 highlights the emergence of three key trends that are having a direct impact on how and why people buy diamond jewellery:

  • First, changes to family and personal relationships are leading to diamond jewellery being purchased and given to symbolise a wider range of 'moments' in a life beyond those directly connected to relationship milestones. As marriage generally comes later in life, and as it is seen as a union between two equal individuals, women are receiving diamonds for multiple occasions both before and after marriage. Alongside traditional relationship milestones, diamond jewellery is increasingly being bought to celebrate occasions such as a new job, a promotion and personal achievements more broadly.
  • Second, women's increased economic participation and higher earnings are supporting growth in women buying diamond jewellery for themselves. More than a quarter of women's diamond jewellery bought in 2016 in each of the four main consumer nations (the US, China, Japan and India), representing more than US$18 billion in value, was acquired through the self-purchase route. In Hong Kong, female self-purchase accounts for the majority of diamond jewellery sales.
  • Third, a new perception of femininity is emerging that is more closely associated with strength and confidence, alongside more traditional attributes such as caring and nurturing. This is leading to diamonds being purchased to symbolise a wider range of emotions, such as joy, optimism and pride, and to the emergence of a new class of consumer: the mature single woman. Meanwhile, feminine success is increasingly being defined through qualities such as uniqueness and personal meaningfulness, and there is an enhanced focus on the importance of experiences, leading to greater interest in purchases that can reflect these characteristics.

Bruce Cleaver, CEO, De Beers Group, said: 'These societal and economic changes will have direct consequences for a wide range of industries, but they are especially exciting for the diamond sector. As diamonds are among the most powerfully symbolic purchases, as they lend themselves to individual design, and as they are effectively a hybrid of product and experience, the new trends present a major opportunity to build on the existing base of demand.

'While the giving of diamond jewellery as a token of love and commitment continues to constitute the majority of purchases, it's encouraging to see these additional sources of demand emerge. It's also great to see women buying more diamond jewellery for themselves in recognition of their achievements, or simply because they want to and they can. The diamond industry now needs to focus on what female consumers are telling us about how they feel about diamonds and make sure that products and buying experiences match their expectations.'

- ends -

Notes to Editors

The Diamond Insight Report 2017 can be read online here or downloaded as a printable PDF at the link below.

Contact

Press office
Tel +44 (0) 20 7430 3434
[email protected]

About De Beers Group

De Beers Group is a member of the Anglo American plc 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. As part of the company's operating philosophy, the people of De Beers Group are committed to 'Building Forever ' by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers Group, visit www.debeersgroup.com.

De Beers SA published this content on 14 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 September 2017 23:13:03 UTC.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
01:46p Oil prices ease on rising output from U.S. producers
01:41p ECB POLICYMAKERS WERE SPLIT OVER KEEPING BOND BUYS OPEN-ENDED : minutes
01:39p China stocks suffer mauling, Fed leaves dollar in a daze
01:37p SMMT SOCIETY OF MOTOR MANUFACTURERS AND TRADERS : Local sourcing drives UK engine manufacturing growth in October
01:37p ESCAP ECONOMIC AND SOCIAL COMMISSION FOR ASIA AN : UN forum in Bangkok calls for more effective policies to enhance youth participation in sustainable development
01:32p CII CONFEDERATION OF INDIAN INDUSTRY : Infrastructure status to speed-up logistics sector growth and create more employment opportunities
01:32p ITALY : EIB lends EUR 150 million to Edison for E2i's new wind farms in central and southern Italy
01:27p EU RESEARCH AND INNOVATION : 28 industry leaders call for ambitious funding programmes
01:17p UNECA UNITED NATIONS ECONOMIC COMMISSION FOR AFR : Africa making progress in adoption of new technologies but much remains to be done, says Nwuke
01:17p MINISTRY OF PETROLEUM AND NATURAL GAS OF REPUB : Production Performance of Oil & Natural Gas Sector for October, 2017
Latest news "Economy & Forex"
Advertisement