The manner in which diamond rings are traded has changed.
According to a report in Bloomberg, the ring market on EBay has grown 58% since 2012 and digital jewellery consignment has become safer and more popular. This trend has a negative impact on traditional retailers and is driven by a number of factors including a different view on diamonds and marriage, a decline in the willingness and ability to spend big on diamonds, the desire to buy something unique and authentic and the growing popularity of online shopping. A De Beers report estimates that millennials spent US$26 billion on diamond jewellery across the US, China, Japan, and India in 2016. This amount includes all rings (not just engagement rings) and a variety of diamond purchases, like bespoke designs.
Read the full article here: www.bloomberg.com/news/articles/2016-11-07/happy-couples-don-t-buy-diamonds-online-the-way-they-used-to?cmpid=socialflow-facebook-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=facebook&utm_medium=social