“This comes off the again of the lack of safety and security, driven by being too reliant on just-in-time provide chains from the global village,” he explains. Yet perhaps essentially the most notable trend to emerge from the pandemic was the shift to online retail, notably in Australia and the US. “The e-commerce aspect of many, principally independent jewellery companies just isn’t practically at the stage of the place it should be,” mentioned Jogia. One of essentially the most vital bills on retail balance sheets is rent and the COVID-19 pandemic has thrown the long-standing conflict between retailers and landlords into even sharper reduction.
Consumers are being drawn to an alternative product the place they’ll perhaps get a two-carat diamond as a substitute of a 50-pointer for the same money. While many shoppers care about the ‘reality’ of diamonds and their origins, many are also unconcerned with the specifics. Trade …
