| In the US market, the sales of diamond jewelry | | | | sales of top 50 chains. The demand was on a |
| account for around 55% of total jewelry sales; the | | | | constant rise, climbing a 5.7% increase every year, |
| increase in sales had been quite steady and substantial | | | | making it the most demanded product during the |
| until 2007. The industry experts had actually predicted | | | | period 2003-2008. With steady economic growth since |
| a steady and significant rise however all their hopes | | | | 2009, things have changed once again for the jewelry |
| and beliefs went down the drain in the year 2007. It | | | | industry after the big impact of recession. The year |
| has been seen that the increase in sales of jewelry in | | | | 2010 is with full of promises, the growth is said to |
| the global market was mere 1.7% during 2007-2008. | | | | increase significantly. The styles and patterns of |
| Globally, US accounts for the largest percentage of | | | | jewelry are constantly changing with changing mindset |
| market for jewelry. The raw materials are primarily | | | | of people. With economic growth, there is also a |
| brought in from Africa, Canada, Russia and Australia; | | | | change in attitude towards buying; buying diamond |
| however the countries that are involved in jewelry | | | | jewelry is now a status symbol as well; for diamond |
| manufacturing and diamond processing are India, China, | | | | wedding rings, people don't prefer anything less than a |
| Turkey and Italy. The major retail markets are in US, | | | | diamond ring which not just reflects the strength and |
| Europe, Middle East and Asia. The demand of diamond | | | | bond of the couple getting married but also how deep |
| jewelry was at a steady increase globally and experts | | | | their pockets are. |
| predicted it to remain the same; however with the | | | | Be it any occasion for that matter sake, there's nothing |
| downfall happening in the year 2007, all predictions and | | | | less than diamonds that people opt for, be it on |
| hopes went for a toss. | | | | choosing their anniversary rings, or engagement rings. |
| In US the specialty retailers have a strong hold in the | | | | Overall, it can be said that a significant rise in demand |
| jewelry market. 55% of sales of diamond jewelry are | | | | of diamond jewelry is expected in not just the US |
| in US, and half of the revenue is contributed by the | | | | market but globally. |