Tiffany Under Pressure, Diam Concept Goes BK and InStore Retailer Research
What do these stories have in common?
- Tiffany is under pressure because they are simply missing out on what the next gen consumer wants. They are trying to sell them their parent’s brand and product and consumers 25-40 years old are just not interested.
- Diam Concept has gone bankrupt and we are sorry to see this happen (no one wants to see bad things happen to good people) but this is a natural course of events in a rapid business sector expansion. The prime lab-grown diamond sector continues to consolidate because diamond growing businesses can’t survive selling product below it’s cost. More bankruptcies, mergers and changes are coming. The good news is the retailers selling lab-grown diamonds are still making money and consumers, all over the world, continue to buy them.
- InStore’s Brain Squad research is showing that despite price drops in the lab-grown diamond supply chain, consumers still love the product (duh) and retailers still love selling them.