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< ETHICAL JEWELRY IS BECOME AN INCREASING TREND, AS WE DISCOVER IN THIS MONTH`S ISSUE., FEBRUARY 2017, ISSUE NO. 322 >
POLISHED
Rio Tinto’s Blue Diamond Tender "Exceeds Expectations"
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RETAIL
Bain & Co. Forecasts a 12% Drop in Jewelry Sales in 2009
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MINING
De Beers Diamond Production Plunges 91% in Q1
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FOCUS
The First Rule of Jewelry Marketing: Know Your Customer
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FOCUS
Who Spends on Jewelry: Income Levels Are Key
While averages can be deceiving when trying to describe the total universe of American households, they can be much more meaningful when analysts drill down into the data for a particular product category, such as jewelry.
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Education: Better-Educated Consumers Buy More Jewelry
It sounds like a double-speak to say “better-educated consumers buy more jewelry” because this statement is correct in two ways:
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It All Plays a Part: Occupation, Household Size, Home Ownership and Ethnicity
Occupation has a major impact on jewelry expenditure. However, it’s not the color of the collar – white-collar versus blue-collar occupations – that really matters. It is all about the earnings that a particular occupation pays.
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Jewelry As A Gift: Americans Reduce Spending
American consumers have slowly reduced their gift giving of jewelry for more than two decades – with a dramatic reduction in gift spending in 2005. However, in 2006, American consumers’ spending on jewelry as a gift bounced back, according to data from the Bureau of Labor Statistics’ CES. Unfortunately, this trend did not carry through to 2007 when consumers again reduced their expenditures on gifts.
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Jewelry’s Share of Wallet: Steady in 2007
It probably comes as a surprise that jewelry’s share of wallet in the American market held about steady in 2007. Despite soaring energy prices and an overall increase in inflation, wage and salary gains helped consumers maintain their spending for discretionary items such as jewelry.
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Seize The Opportunity When the Customer Shows Up!
Jewelry consumers, even the most ardent shoppers, don’t come into a jewelry store more than a few times a year. Even mall stores, which may attract many browsers and a few impulse shoppers, don’t see most of their customers more than two or three times a year. Anniversaries and birthdays are no longer a sure bet for a trip to the jewelry store by shoppers; there are too many alternatives vying for consumers’ money.
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THE PORTE POINT OF VIEW
Marketing to Hispanics by Speaking their Language
There are approximately 44.3 million Hispanics in the U.S. and by the year 2050 it is said that Latinos will be the majority, since this group is growing at eight times the rate of the general population.
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FACETS
Cullinan Blue Makes Record Price
A blue diamond produced from the Cullinan mine sold for a record price at Sotheby’s Magnificent Jewels auction in Geneva. Petra Diamonds, the mine owner, announced that the piece sold for $9,488,754m, or $1,349,752 per carat, establishing a new record price per carat for any gemstone sold at auction and the highest price for a fancy vivid blue diamond sold at auction.
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INTERVIEW
"The Bounce Back in Rough Prices Will be Dramatic". An Interview with Gareth Penny, Managing Director, De Beers Group of Companies
By Chaim Even-Zohar. Is De Beers in financial trouble? Will DTC box discounting become a permanent feature? Will it now resort to tendering and selling rough to Arab sheikhs? These are but a few of the wide range of questions posed...
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PROFILE
Chaim Pluczenik
Chaim Pluczenik, Chairman and Chief Executive Officer, Pluczenik
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ORGANIZATION PROFILE
Diamond Manufacturers & Importers Association of America
Diamond Manufacturers & Importers Association of America, 78 Years in operation, 100 member companies.
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