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De Beers: Millennials spent over $25 Billion on diamond jewelry in 2015

millenials

(IDEX Online) – Millennials spent more than $25 billion on diamond jewelry in 2015 in the four largest consumer markets, acquiring more than any other generational group, according to De Beers' Diamond Insight Report 2016.

Despite Millennials (those aged 15-34 in 2015) facing more financial challenges than their parents’ generation, they already account for almost half of the total retail value of new diamond jewelry acquired in the four largest markets – the US, China, Japan and India.


Deeper gets deadlier in South Africa's aging gold mines

bloom

Finding minerals in South Africa after more than a century of digging often means going deeper than ever before. Now, it’s also becoming deadlier.

In a country that remains one of the biggest producers of gold, platinum and diamonds, the toll of 60 mining deaths this year through August was 20 percent higher than the same period in 2015, according to the Chamber of Mines, an industry group. The annual tally is heading for its first increase in nine years and the biggest in at least two decades, escalating concerns among both workers and mining executives.

Jewelers Mutual’s Robbery Prevention for Jewelers: How to Identify Casing

JSA 2016 smash and grab by hour of day

The total number of crimes and amount of losses in the jewelry industry declined year-over-year through the first six months of 2016, according to the Jewelers Security Alliance.

That’s great news, but there’s another fact jewelers can’t ignore: they are still being targeted!

This is especially true for retail jewelers, as criminals have become more aggresive when committing robberies, targeting more merchandise from higher-profile jewelers and using more force.

Scuba diving for diamonds

African diamond safaris bring a whole new meaning to upscale adventure

scuba

Wynand Hendrikse is a diamond diver. For 20 years, he’s spent his days sailing off the western coast of South Africa, exploring a private offshore concession an hour south of the Namibia border. His office is on a boat, and his uniform is a wetsuit and fins; his mission is to scan the shallow sea floor for precious minerals. Almost every day he spends on the water, he hauls up a pile of diamonds, which he then turns into bespoke pieces at his Stellenbosch design studio. His clients, he says, include sports stars and actors, but he rebuffs you if you ask for their names. In other words, his life doesn't suck.

Why the man who popularized birthstones in America came to loathe his creation

birthstones

As children, many Americans get introduced to the idea of birthstones—that the month of your birth corresponds to a special jewel. Some lucky people get diamonds (April). Others are stuck with the more pedestrian garnet (January) or the esoteric peridot (August). But while many know of the existence of these gems, it’s less clear why.

Does your store need a makeover?

Jewelers for Children (JFC) has announced the Super Store Makeover Contest where one lucky retail jeweler will win a store makeover valued at more than $100,000!

JFC

All jewelers will need to do is raise funds for JFC through December 31. Participating jewelers will create their own fundraising progress page at http://www.firstgiving.com/jfcevent/super-store-makeover, where they can record the donations they receive and their customers can make donations. The winner will be determined by a point system. Each time a retailer recruits a donor, they will get 10 points. They will also get one point for every $500 raised. 

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