consumer demand

At De Beers’ recent sale, diamond buyers were given the option to buy nothing due to the decline in diamond prices caused by slowing consumer demand. Similar actions have been taken across the diamond industry, including cancellations of sales and imports. The decline in diamond prices has also impacted the luxury space as a whole. Measures have been taken to stabilize the industry, but there are concerns about long-term demand due to structural issues and changing consumer preferences.