JNA Oct 2018

INTELLIGENCE JNA | 32 | OCT 2018 GEN Z, MILLENNIALS lead global diamond jewellery demand, says De Beers T he millennial and Gen Z generations combined accounted for two-thirds of global diamond jewellery sales in 2017, as diamond jewellery demand reached a new record high of US$82 billion, according to the latest Diamond Insight Report by De Beers Group. The report noted that millennials are in general more mistrusting, requiring brands to earn their trust before they can pursue growth, while Gen Z tend to be more individualistic and optimistic, desiring products that help build their own personal brands. At the same time, the two generations adopt similar stances with regards to valuing love, being digital natives, being engaged with social issues and desiring authenticity and self-expression. The Diamond Insight Report 2018 at a glance DOWNSTREAM Global consumer demand continued to rise in 2017, driven by sustained growth in the US and increased demand in China. Demand increased by 2 percent in 2017 to US$82 billion, with the US once again the fastest-growing region. Consumer demand also rose in China but declined in the other main markets. 2017 Diamond Jewellery Demand Global polished diamond demand share by geography 2016 2017 JAPAN INDIA GULF US GREATER CHINA REST OF WORLD 16% 2016: 16% 19% 2016: 19% 5% 2016: 5% 6% 2016: 6% 7% 2016: 7% 48% 2016: 47%