How can you protect your natural diamond business and your customers from the threat of undisclosed laboratory-grown diamonds?
This question concerns all of us at the
Natural Diamond Council,
London Diamond Bourse and
National Association of Jewellers, which is why we are jointly writing to you today with a new guide dedicated to
Diamond Pipeline Integrity.
This document will ensure your business is informed and, most importantly, prepared to face current market challenges, answer difficult consumer questions, and produce marketing materials in full compliance with the latest terminology guidelines.
According to research, around 40% of British shoppers are unaware of the existence of laboratorygrown diamonds (Harris Interactive, February 2023). When coupled with the ever-growing price differential between natural diamonds and laboratory-grown stones, the risk of shoppers getting swept up in fraudulent practices is an even greater threat.
We all have a shared goal to protect consumer trust. To do this effectively, your business must also be shielded from risk through a consistent process of risk analysis, planning and testing. After all, how can we, as a trade, support shoppers on their buying journeys if we are not confident in our own supply chains and testing regimens?
In this document, we talk you through the process of mapping your supply chain, organising your product flow, implementing a testing regimen using an ASSURE 2.0 Tested Diamond Verification Instrument, and elevating your marketing strategies. We have also included herein a copy of Diamond Facts – a document created by the Natural Diamond Council that addresses common consumer questions along with myths and misconceptions surrounding the diamond industry.
When used in tandem, these two guides are an enlightening support system for all types of retailers as we enter one of the busiest times in the jewellery calendar.
To read the document, please click
here.
To read the facts, please click
here.