Mark Bronner Diamonds 2018 ForecastDiamond sales are expected to have another strong year in 2018. The market will likely see a higher volume sales of lower value diamonds. This will increase the overall number of diamonds sold, but may negatively impact the price per carat. This opens up a new facet of the market that hasn’t been touched in the past few years.

Since 2012, diamond sales have faltered due to the declining growth of new economies such as those in India and China. This has trickled down as a decline of investments in polished diamonds, leading to a oversupply. De Beers, the largest diamond producer in the world, ordered a price decrease to maintain market stability. The market began to regain its strength in 2016 and 2017, continuing to climb into 2018. A significant price increase for end users is expected by the end of 2018.

Dominion Diamond, Canada’s largest diamond producer, expects their own 2018 fiscal sales to be between $875 million to $975 million, coming in at a 62% increase over their 2017 sales. Dominion Diamond operates the Ekati Diamond Mine and owns 40% of the DIavik Diamond Mine, both located in Canada’s Northwest Territories.

In addition to natural diamonds, the sales of lab-grown diamonds will continue to penetrate the market in 2018. The younger generation of consumers are more sustainably-minded and are learning about this eco-friendly jewelry option via social media all over the world. As more and more celebrities make bold statements about wearing man made diamonds, this market is waiting for its chance to explode.

In retail, entry-level price points will drive sales of diamonds for the next generation of diamond jewelry aficionados. In addition to the engagement and wedding ring markets, retailers should focus on the trendy, every day diamond wearers who are looking to add a glint of polish to their wardrobe. Jewelry designs should maintain a traditional look with a modern twist. No longer popular are the layered, tiny jewels of seasons past.

One single, bold statement piece is the anticipated trend of 2018. Colors are a huge draw for new consumers. Pantone recently named Ultra Violet their 2018 color of the year, so pieces of in various shades of purple are likely to hit the market in the coming year. A single piece of colored diamond jewelry that effortlessly matches a celebrity’s style will gift them an entirely new audience of social media.