The industry needs a change of pace in diamond advertising

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Via Rough & Polished:

Generic advertising needs a change of pace compared to the De Beers era. This will be an arduous challenge for the WDM, a challenge in many ways even bigger than the one faced by the Oppenheimers and Ayer & Son in the late ‘30s. The World of today is more complex than back then, and competition fr om alternative luxury products is fierce. In addition, the old Western markets are becoming impermeable to traditional advertising, while several new markets have appeared across the five continents. Each of them has different culture and sensibility in terms of marketing strategies and will require a targeted campaign.

That is why the WDM will need assistance from every diamond and jewellery organization in its global efforts to push the price of diamonds up where it belongs. “It’s our job to get up there and create a tool to inspire the consumer”, said last year Rami Baron, President of the Diamond Dealers Club of Australia, while presenting the WDM’s strategy. “But we don’t do it alone, we do it with you”.

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