Think Diamond Value

The Diamond Promotion Service (DPS) has doubled its marketing this holiday season and smart retailers will hitch their wagons to the De Beers train. As we wrote in “Align Your Message With National Promotions,”  you can capitalize on the dollars and resources De Beers is putting into its campaign.

While there can be no doubt that the diamond and jewelry industry is facing tough times with the global economic crisis, the credit crunch and shaky consumer confidence, De Beers is pushing against the negative tide with its “Enduring Value” campaign.

DPS offers the following insight to thrive when selling diamonds this holiday season:

• In tough times, 63% of consumers say they gravitate toward gifts (like diamonds) that retain their value. Another 87% say they’d rather buy something that is a bit more expensive but will still have value in a few years, versus something more affordable that doesn’t last long.
• Diamonds stand the test of time: 66% of women said diamond jewelry is a wonderful gift to hand down to the next generation; diamonds are perceived by consumers to be safer than stocks, real estate and fine art.
• Fewer, quality gifts rule: 80% of consumers prefer one special gift versus several small ones; diamond jewelry provides lasting value for money; and quality is more important than trendy fads.
• New research from DPS shows that diamond jewelry is still the number one choice for a gift this Christmas and is seen as the top gift to retain value over time.

Take The Tip:
Click here to read more about the Diamond Promotion Service’s holiday 2008 program.

Pictured (Top to Bottom): Novell diamond engagement set (courtesy JIC); diamond solitaire (DPS); pave pendant