![]()
According to current retail statistics released by the Census Bureau, diamond jewelry is one of the most important, and lucrative, retail branches in the United States of America in 2011. The American diamond jewelry industry has certainly had its setbacks in the past few years. Rough diamond and diamond jewelry sales suffered a significant hit following the global economic recession and diamond jewelry sales had significantly declined in the United States, as well as in India, Asia, Canada and Europe.
Although the first quarter of 2011 was marked with a decrease in diamond and precious gemstone jewelry sales, the last quarter was reported to have demonstrated a marked increase in diamond jewelry sales. Perhaps it’s mainly to do with the holiday season being one of the most lucrative times for diamond jewelry sales as diamond and precious gemstone jewelry sales during the holiday season are reported to account for more than a quarter of a given jeweler’s annual jewelry sales.
The recent economic recession aside, the Census Bureau assures that rough diamond and precious gemstone sales, as well as diamond jewelry sales, have steadily increased over the past couple of decades. According to the Census Bureau’s economic census, diamond jewelry accounts for over forty percent of all jewelry sales, and is a more popular commodity than yellow and white gold jewelry combined. In fact, yellow and white gold jewelry sales have shown a steady decrease since 1992.
In addition, rough diamonds and diamond jewelry sales generate close to half of all retail jewelers’ revenues, making diamonds and diamond set jewelry an increasingly popular, and lucrative, luxury commodity. The most sought after diamond jewelry is engagement and fashion rings. However, diamond encrusted luxury watches have been gaining in popularity and, according to current Bureau statistics, are now the second largest diamond jewelry category.
