As the most expensive symbol of love, the status of diamonds may be somewhat unprotected.
The recent threats to TA are mainly from the increasingly sophisticated synthetic diamond industry, and Chinese companies that account for more than 90% of global synthetic diamond production have also become a major concern.
By simulating the environment created by natural diamonds, domestic companies have been able to mass produce synthetic diamonds that are identical to natural diamonds. In this regard, some scholars have played such a popular analogy: "The difference between natural and artificial is like the difference between the ice in the river and the ice in the refrigerator."
Image source: Barthau Jewellers
This time, will the status of diamonds be subverted?
In the face of low-priced synthetic diamonds, the diamond giants are really panicked. In fact, synthetic diamonds have been in existence for more than 60 years. However, the manufacturing cost and price of synthetic diamonds in the early years were not low. Until 2016, the retail price of synthetic diamonds still reached 80% of natural diamonds. Originally, it was not enough to be "noble", and the price was not low. It is naturally difficult for artificial diamonds to stand in the rivers and lakes.
However, the situation has changed in the past two years.
Chinese companies produce about 10 billion carats of diamonds for industrial use every year, but artificial diamonds entering the jewelry industry are only a few million carats per year. Perhaps because the profits of industrial diamonds are not high, Chinese companies are eager to improve their technology, hoping to reach out to the jewel drill site. The effect is also amazing. According to Bain Consulting's data, in the past two years, the retail price and wholesale price of artificial diamonds have been rapidly declining. By 2018, synthetic diamonds retail at half the price of natural diamonds, while wholesale prices are as low as 20% of natural diamonds.
Artificial diamonds currently account for only 3%-5% of the market, but Morgan Stanley predicts that the share of artificial diamonds in the Greater Carat diamond market will further increase to 7.5%. Looking back at natural diamonds, TA's business is no longer as popular as people think.
The diamond price trend has been very low-key in recent years. In 2012, the price index of diamond retail price reached the peak of 234, and then it fell sharply. In 2014, in the case of weak demand and depletion of capital liquidity, diamond manufacturers cut prices, and diamond prices fell by 8.7% in the same year. Since 2017, the diamond price index has been hovering around 215.
The world's first diamond giant De Beers Group's sales in the first sales cycle in 2019 was not satisfactory, the lowest since 2016.
The future of relying on natural diamonds seems less optimistic. De Beers, which had a poor sales growth, resolutely resisted artificial diamonds in 2016 and even introduced instruments to identify artificial diamonds and natural diamonds. However, with the wind of artificial diamonds blowing, the body of the big cockroaches is also put down and put down. Two years later, De Beers launched the artificial diamond brand Lightbox. Lightbox's artificial diamonds are priced at $800/carat – a price that is one-fifth the price of synthetic diamonds on the market and one-tenth the price of natural diamonds.
So, to what extent can artificial diamonds shake the status of diamonds?
D “Diamond is Foreverâ€, the diamond that was just needed for marriage and marriage was a great success.
The story behind the success of diamonds is sure to be familiar to everyone.
Unlike the rare metals of gold, the main component of diamonds is found everywhere on Earth. By controlling the diamond production, the De Beers Group has created the “rarity†of diamonds. By relying on the slogan “Love is long-lasting, a eternal rumorâ€, the diamonds are truly on the throne.
Since the 1950s, the super-carat diamonds have often appeared with female stars and valuable art paintings, and continue to this day.
Caption: The story of famous actresses and diamonds is always talked about. Image source: Bettman Archives
The value of diamonds has also risen all the way, in dollar terms, from 1960 to 2016, diamond prices have risen more than 11 times. Based on the US Bureau of Labor Statistics' consumer price index, the cumulative inflation rate in the United States during these years was about 711% - the price increase of diamonds far ahead of inflation.
Although Zhang Yuxi told the female compatriots: "I never buy a small diamond below one carat because they are not worth the money", but the "Zhang Yuqi" who can afford the pigeon eggs is a minority. In order to reach more consumers, in the mid-1960s, De Beers Group came up with a new marketing strategy to instill in the world the concept that “quality, color and cutting process are more important than sizeâ€. Girls should not use diamonds. Size measures the weight of love.
As a result, the small carat diamond ring replaced the big diamond ring on the mass advertisement page, and the diamond-set ring was favored by the girl with a beautiful design. The average size of diamond sales decreased from 1 carat in 1939 to 0.28 carat in 1976. .
From sparkling big carats to beautifully designed small diamonds, all kinds of marketing strategies and rising prices have made diamonds a symbol of love and identity.
Image source: De Beers
Can artificial diamonds be good friends for girls and love?
The arrival of artificial diamonds has already had a certain impact on the symbolic meaning of diamonds.
From the perspective of the US market, people's acceptance of artificial diamonds is not bad. According to market research firm MVI, the proportion of jewellery consumers willing to buy synthetic diamonds as engagement rings is steadily rising, from 55% in 2016 to 68% in 2018.
Currently, there are nearly 15 synthetic diamond brands launched in the US market, and Samarov's Diama has a brand recognition of 26%.
The artificial diamond brand launched by the diamond giant is the response to this shock: instead of waiting for other artificial diamond dealers to divide the market, it is better to take the initiative to downgrade the artificial diamond to a relatively cheap gemstone to continue to maintain the noble image of natural diamonds.
The one-carat artificial diamond product launched by De Beers' Lightbox is priced at less than RMB 7,000, only one-tenth of the natural diamond brands such as Chow Tai Fook, Chow Sang Sang and I DO, compared to Swarovski's artificial diamond brand. Diama is also more affordable.
However, Lightbox has not yet launched a diamond ring, the main products of the brand include synthetic diamond necklaces and earrings. This is also a way De Beers wants to further distinguish between natural and artificial diamonds – synthetic diamonds are only suitable for informal occasions and are not given the symbolic meaning of a marriage contract.
Image source: Lightbox
Compared with the United States, the Chinese market does not seem to have been affected much.
According to the diamond report released by De Beers in 2018, the most popular jewellery gifts for young women in China are still natural diamonds. However, in the list of gifts after 00, the options for other gems are relatively much higher.
According to a 2015 survey by the Hong Kong Diamond Consumption Institute, if the diamond ring given to them is not a true natural diamond, 77% of female respondents will feel “disappointed†– there should not be many men willing to take risks Diamond to propose?
The newly married Mr. W told DT Jun that although he was not a fan of diamonds, he was influenced by contemporary marriage customs and even bought three diamond rings for his wife.
"Because diamonds are now symbolic, I pay more attention to this form of ritual." Even if he knows the high-priced hype and marketing of diamonds, Mr. W does not mind using diamonds to express love. After all, in addition to diamonds, it is difficult to find a more universal love token.
On the little girl's gathering place, there are 1,397 notes on artificial diamonds. However, more content is about the introduction of artificial diamonds, and there are very few people who actually buy. One of the high-level comments under the popular science notes caught the attention of DT Jun. The pig girl named "Pig Light" is using diamonds to flaunt her life value. She believes that cheap synthetic diamonds can't keep up with the years of washing.
Looking for the bottom, what people have long pursued is the symbolic symbol behind the diamond. In the short term, the meaning of natural diamonds for many people cannot be subverted.
However, DT Jun thought about the future. If synthetic diamonds are more and more appearing on the market, TAs will have almost the same color as natural diamonds from the composition of the structure to the color of the color. This will directly lead to the fact that everyone can't tell the sister. Whether the sparks worn on our hands are artificial diamonds or natural diamonds will greatly reduce the symbolic value that diamonds now have. At that time, can diamonds be used to represent eternal love and honorable identity?
However, even if the diamonds are no longer just a love, men don't have to be too happy. The day when natural diamonds go down the altar is also the time for the next "diamond" to rise.
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