Diamond jewelry demand in the US market

In US the specialty retailers have a strong hold in the jewelry market. 55% of sales of
diamond jewelry are in US, and half of the revenue is contributed by the sales of top 50 chains. The demand was on a constant rise, climbing a 5.7% increase every year, making it the most demanded product during the period 2003-2008. With steady economic growth since 2009, things have changed once again for the jewelry industry after the big impact of recession. The year 2010 is with full of promises, the growth is said to increase significantly.
The styles and patterns of jewelry are constantly changing with changing mindset of people. With economic growth, there is also a change in attitude towards buying; buying diamond jewelry is now a status symbol as well; for wedding rings, people don’t prefer anything less than a diamond ring which not just reflects the strength and bond of the couple getting married but also how deep their pockets are.
Be it any occasion for that matter sake, there’s nothing less than diamonds that people opt for, be it on choosing their
right hand rings , anniversary rings, or engagement rings.

Overall, it can be said that a significant rise in demand of diamond jewelry is expected in not just the US market but globally.