Global luxury brands are supporting the diamond dream, but changing consumer expectations
Many global luxury players such as Chanel and Dior have entered the market for diamond jewellery, and their approach to retailing is raising the bar for all. As consumers become accustomed to the retail standards set by the luxury houses, their expectations of the store environment and customer service are rising - with important consequences for other fine jewellery retailers.
Global luxury companies are not only changing consumer expectations of how to buy, but also consumer beliefs about what to buy. When selecting diamonds, a consumer’s focus is often on acquiring the best diamond possible: the carat content and quality are critical.
Global luxury brands are often trying to shift the focus towards acquiring distinctive designer pieces, adorned with diamonds.