One persistent issue in the global cultivated diamond industry is whether consumers care about the origins of their purchased diamonds. For Jack Li, CEO of the Canadian online cultivated diamond retailer ebooom.com, this question is fundamental. It aligns with the brand's advocacy for ethical, environmentally friendly, and sustainable development.
This underscores the importance for overseas jewelers to educate consumers about the origins of cultivated diamonds, the benefits they bring to producing countries, and the significance of their provenance. For instance, ESG certification for cultivated diamond producers serves as an excellent endorsement for products and brands. It is a clear and straightforward promotion concept for overseas consumers, as it addresses a fundamental aspect of industry promotion.
For Chinese consumers and jewelers, the issue of origin holds a different meaning. They are unlikely to be concerned with the ethical, environmental, and sustainable development concepts advocated by overseas markets. Instead, they may view it through a lens of regional bias. To ignite the domestic consumer market, a clear understanding of the unique psychological needs of Chinese consumers is essential. Currently, the domestic market's consumer education phase is chaotic, with no unified industry promotion concept. Here, "consumers" refer to the entire consumption chain, including distributors, jewelers, designers, and buyers.
Step 1: Unified Industry Promotion Concept
The first step for China's cultivated diamond industry is to establish a unified industry promotion concept. This involves informing consumers that cultivated diamonds are identical to natural diamonds in terms of material, and sometimes even superior in grade. Scientifically and physically, cultivated diamonds are indeed diamonds!
Step 2: Sensitive Industry Topics
The discussion cannot be extended further here, as it touches on many sensitive industry topics best addressed offline. The cultivated diamond industry is currently on a downward trajectory, and no one wants to become the next moissanite. Industry self-redemption may not yet be at the critical juncture, so many stakeholders are observing from a distance. Everyone has some reserves to sustain them for a while. The last one standing may be the one who reaps the rewards, but it is also possible that no one will succeed in the end.