Tuesday, June 18, 2019

Rock bottom: Tracing the decline of diamond retail

Retail Dive
In 1948, De Beers launched its now-famous slogan, "A Diamond Is Forever." But for many diamond retailers, forever is coming to an end.

In 2018, the Jewelers Board of Trade (JBT) reported that 852 U.S. jewelry retailers closed up shop, on top of the 817 retailers that shut down in 2017. Even though new retailers are opening up, it's not enough to offset the closures. The overall jewelry retail industry is shrinking, as confirmed by Richard Weisenfeld, JBT's president, in a January 2019 interview with National Jeweler magazine. . . . more