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Portrait of an industry & the art of purchasing a diamond online

Portrait of an industry & the art of purchasing a diamond online

“Diamonds are forever”, a very clever marketing campaign that was launched in the US a few decades ago to convince consumers that diamonds are the perfect gift. It also suggested that all proposals were supposed to be accompanied by an engagement ring set with a stunning diamond and nothing less. Today, diamond’s popularity still continues because amidst all the various crises that have been experienced by consumers worldwide, diamonds remain a steady commodity the consumers continue to ask for.

  • Short portrait of the diamond industry today
  • How purchasing a diamond online has influenced the industry
  • What to be careful about when purchasing a diamond online

Short portrait of the diamond industry today

The Antwerp World Diamond Centre, that was established as the High Diamond Council, along with a consulting firm named Bain & Company have always played a strong role in understanding the diamond industry. Year after year they analyse the industry, study its results and its challenges, and come up with a very highly regarded study that outlines the industry in a very informative way.

In fact, in their latest study, published in 2017, they identified two main challenges that may strongly influence the industry as a whole in the upcoming years: further developments in the field of lab-grown diamonds and the financial sustainability of the midstream.

Although it is clear that the industry overall has been doing better, it is crucial to always keep an eye on such studies when purchasing diamonds or investing in diamonds. Experts cannot predict how the market will behave but they can certainly guide you in your choices.

How purchasing a diamond online has influenced the industry

Over the past years, online sales have increasingly influenced the diamond and jewellery industries, by altering consumer behaviour and by introducing new operating models that are specific to the online world. The main reasons for this are the following:

  • Geographical boundaries are removed
  • Payment options are secure
  • Consumer data is collected and being used more intelligently to tailor to their preferences and predict their behaviour on the online market.

Buying a diamond online has never been easier, but there are a few important points that you need to think about before proceeding with a purchase.

What to be careful about when purchasing a diamond online?

When buying a diamond online, you need to make sure the website is a recognised and secure website, mainly by checking that it says “Secure” on the left hand side of the address navigation bar on your browser.

Then you need to make sure the company or seller is reliable and has a good reputation on the market. This can easily be done by checking forums and feedback scores of the company online.

Last but not least, you need to make sure that the website’s payment system is secure, that they have reliable shipping services, and that they offer a guarantee or a refund option in case you change your mind.

BAUNAT Diamonds is a worldwide reference in terms of diamond related purchases online and investments. Through BAUNAT you are 100% sure that you are buying a diamond online that is exactly what you wanted.

Author: Inge De Wee
Source: BAUNAT

With this article, BAUNAT strives to inform you thoroughly about investing in diamonds. No investment can be guaranteed to be without risk or fully according to your expectations. That is why we recommend to research the risks and aspects of investing in diamond properly to ensure that you make the right choice for your portfolio.

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