The U.S. diamond market is built on bridal jewelry and H SI stones less than a carat, says a new market outlook from De Beers obtained by JCK.
The company’s surveys say the best-selling diamonds in the United States fall in the 0.5–0.99 ct. range, with H or better color and SI clarity.
The market also mostly favors bridal jewelry, with engagement ring sales outpacing other sales of other types of diamond jewelry.
Overall, the American market is likely to be “steady” in 2013, De Beers said, and while it remains the biggest diamond consumer market, its overall share of the diamond market is falling. America’s share now stands at 37 percent, versus 42 percent in 2007, and around 50 percent at the beginning of the century. The U.S. diamond market grew some 5 to 6 percent percent in 2012, as did Japan’s.
China now stands as the second biggest market, claiming 11 percent of the diamond consumer total, followed by Japan (10 percent), and India (9 percent). Last year, the Chinese market grew some 8 to 10 percent in dollar terms, while the Indian consumer market for diamonds contracted some 5 percent in dollar terms but grew 9 percent in local currency.
For 2013, the company expects growth rates to consolidate in China; positive but lower-than-average demand growth in Japan; and a better picture to emerge in India.
Other market reports:
– In India and Japan, no products emerged as strong winners, but earrings “continue to be important” in India, De Beers said, as are necklaces in Japan.
– In India and Japan, non-bridal multi-diamond rings were much more popular than in other major markets.
– Solitaire diamond products were prevalent in China, mainly for bridal occasions and wedding anniversaries.