What are the diamond jewellery trends that are shaping up the North American Millennial market in 2017?
The Gem and Jewellery Export Promotional Council of India (GJEPC) recently invited me to speak and share my observations on this specific question at their design and trend forecasting annual seminar, Design Inspirations. This year’s topic focused on the challenges and opportunities around designing for the Millennials.
A great deal has already been written about the Millennials, their buying power and behaviour. Rightly so, Millennials now make the largest consumer market for diamond jewellery. According to a report by the De Beers Group, Millennials in the US alone account for over 60 per cent of this generation’s diamond jewellery purchases in the top four markets, namely – the US, China, India and Japan.
I’ll summarize what I said at the GJEPC seminar. Since the diamond jewellery market is too wide a spectrum, I decided to focus on a specific area — the non-bridal diamond trends, a rising star segment for Millennials in the US. The premise of my talk was to question why things trend, what influences and shapes them to become market forces. Truly understanding the why will help answer the what that is needed to appeal to the Millennials and the generation beyond.
One thing we have learnt in the diamond and jewellery business is that each generation brings it’s own challenges and opportunities. Collectively as an industry we must have the vision to not only seek to understand the Millennials, but also the generation that will exert their market power after them...
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