Forevermark will target female buyers in its holiday-season marketing campaign this year, following a sharp shift in the way consumers acquire their jewelry.
Self-purchasing by single and married women has increased almost 50% in the past decade, and grew from 25% of the US diamond market in 2013 to 31% in 2015, according to data from Forevermark’s owner, De Beers. While engagement rings and men’s gifts to their wives still account for 28% and 37% of US diamond sales respectively, women are increasingly taking the initiative rather than waiting for someone to buy them jewelry.
“We are seeing clear trends emerge around the shifting role and expectations of women, of how they see themselves and how they see diamonds as a vehicle, increasingly, of self-expression,” De Beers CEO Bruce Cleaver said Sunday at the JCK Luxury show in Las Vegas.
Speaking to Forevermark jewelers and manufacturers at the brand’s annual breakfast, Cleaver said these changes “have implications for how we create meaning for diamonds, and present us with exciting opportunities.”