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SourcingJan 24, 2019
De Beers Says 2018 Forevermark Sales Were Up 8%
More than half of Forevermark-carrying jewelers said customers came in asking for the De Beers-owned diamond brand by name.
A stack of diamond rings from the Forevermark Tribute Collection. De Beers said its 2018 holiday campaign promoting the collection generated more than 240 million impressions.
New York—Jewelers sold 8 percent more Forevermark jewelry by value in 2018 than they did last year, De Beers CEO Group Bruce Cleaver said.
Cleaver walked guests through the brand’s highlights of the year at the annual Forevermark and De Beers New York Cocktail Reception, held January 10 at Ascent Lounge in New York City.
The diamond brand’s Holiday Sentiment Survey found that more than 50 percent of Forevermark-carrying jewelers said customers came in asking specifically for Forevermark.
The Forevermark Tribute holiday campaign reached more than 80 percent of the target market (affluent customers), generating more than 240 million impressions, according to Cleaver.
Searches for Forevermark and traffic to Forevermark.com increased, with De Beers reporting a 67 percent jump in total conversion on the website in November and December as compared with the previous two months. (E-commerce sales on Forevermark.com began in the fourth quarter.)
Cleaver noted the evolving consumer landscape, specifically in the diamond engagement ring category, and highlighted the research Forevermark has conducted to ensure the growth of its essential bridal category.
The brand’s research found that couples are entering into marriage with a “less romantic and more pragmatic” view, shifting from the idea of a fairy-tale love to a love based on active choices and commitment.
“Thus, the diamond engagement ring, which remains the preeminent symbol of engagement, accrues significant emotional value after the engagement, with each daily choice and commitment to ‘forever.’ And, therefore, the notion of ‘my diamond means everything’ has taken an even stronger hold for diamond consumers,” Cleaver said.
While thoughts around love and marriage may be changing, he confirmed that the demand is still there among younger consumers, who account for two-thirds of diamond jewelry demand in key markets.
“While the road ahead will not always be smooth, and we will doubtless continue to experience challenging times, we can look ahead with pride in our achievements, and with optimism that we are on a longer-term upward trajectory,” concluded Cleaver.
Forevermark has a new bridal collection in the works and plans to launch a national campaign in mid-2019.
In the fourth quarter of last year, the brand started selling Tribute and Alchemy by Jade Trau pieces on Forevermark.com, with proceeds going to Forevermark-carrying jewelers, and announced plans to open the first Forevermark store in the United States. It will be operated by San Francisco-area retailer Padis Jewelers.
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