Retailers are increasingly saying: "Why should I flatter myself and tell your stories and sell your diamonds?

Mel Moss, an active member of the industry and president of Regal Imports Ltd., discusses the "perfect storm" - a catastrophic situation created by diamond mining companies that have filled the diamond pipeline with non-profitable projects at the bottom of the diamond pipeline, losing interest in consumers and minor Profits for all: "Diamond companies are trying to make a profit, but in the current conditions their profits do not leave a profit to their customers. Diamond cutters are faced with consumers who are not interested in paying more for diamonds if they are generally interested in buying diamonds. Retailers often compete with their own suppliers for the volume of diamond sales, and discounts provided for sales on the Internet, force retailers to put up with low profits. It's a vicious circle, In which retailers do not want to receive tiny profits for all the increasing sales of diamonds. Therefore, retailers either stop selling polished diamonds in favor of more profitable products, or require their suppliers to cut prices, and nowhere do we see anyone in the diamond pipeline who can make money selling diamonds. "

Expressing the collective frustration of retailers, Moss calls for greater cooperation in the industry: "Many retailers do not actually sell diamonds. They sell documents of the Gemological Institute of America (GIA) and compete only on the price issue. Diamond companies with their characteristic arrogance tell retailers not to sell at real prices. They recommend telling the story of a diamond, but retailers now simply do not "peck" at these tales of diamonds. Retailers are increasingly saying: "Why should I flatter myself and tell your stories and sell your diamonds when I can sell something easier and earn more money"? Apathy of retail leads to a decrease in the desire to have diamonds. Therefore, demand is falling, consumer interest is dying, and everyone is looking for easier solutions. But there are no easy ways,

He notes that "the old supply chain worked well in its time, when all participants of the diamond-diamond industry adhered exclusively to their place in the diamond pipeline. The old system provided profit at all important levels. " In second place to Chaim Even-Zohar's statement that De Beers' attempts to get down to work at the bottom of the diamond pipeline turned out to be unprofitable, Moss says that "in all these projects there is not only a loss of money, but they steal profits from retailers, forcing De Beers is not a team player in advertising diamonds as a luxury product. Each level of the diamond pipeline in its time supported the other by promoting a simple basic provision that diamonds are attractive. At present, merging of different levels causes a decrease in sales and a decrease in profits. "

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