The disruptive forces shaping the diamond industry
There are new technologies disrupting the diamond industry, transforming the supply chain and impacting diamond businesses. So, what does the future hold for the diamond industry?
Since 2011, polished diamond prices have steadily declined and profit margins in the mid-stream have all but disappeared. Furthermore, the introduction of new technology is about to revolutionise the industry. Automated manufacturing and grading are expected to cause major disruptions – radically changing the supply chain by shortening the manufacturing process, improving traceability and reducing costs.
It will soon be possible to mine a diamond, polish it, set it in jewellery and sell it to a consumer in a single day.
Combined with the arrival of laboratory-grown diamonds (LGDs) and shifting consumer preferences, the industry is at an inflection point.
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If the industry doesn’t work together, everyone will lose.
Our latest thought leadership piece examines these disruptive influences and explores how it can be used positively to transform the industry.
Starting with a brief overview of where the diamond industry stands today, we examine how new technologies are set to transform the supply chain; how diamonds and laboratory-grown diamonds (LGDs) need to learn to live together, and finally how understanding the changing nature of retail and consumer preferences can be turned into a massive opportunity to grow the end market.
