< BACK TO THE DIAMOND BLOG MAIN PAGE
17
October 2017

Like? Share!

Of Diwali and Diamonds: An Indian Celebration

This week, millions across India are celebrating the traditional Diwali holiday. Diwali, the ‘Festival of Lights’, is India’s largest, most meaningful and flamboyant event in the calendar. Coinciding with the Hindu New Year it is a 5-day period of festive celebration. It is not called the festival of lights for nothing. During Diwali, the theme of light over darkness is prevalent. Masses of decorations, lights, firecrackers, traditional dress, amazing food and, of course, dazzling gold, diamonds and jewelry are all a part of making the Diwali period magnificently colorful and celebratory.

 

Marketing the Magic of Diwali

For the diamond industry in India, Diwali is an important event in ways beyond the traditional. Diwali – like Christmas in the west – is a busy shopping period for Indians. The giving of gifts, purchase of festive clothing and jewelry, all provide ample opportunity for a surge in retail sales and marketing. Indeed, even the timing of Diwali, which is based on the lunar calendar and therefore shifts from year to year, can have an impact on various industries. This year, Diwali falls out slightly earlier, in mid-October and this has certainly affected the sale of diamonds. This is due to the fact that diamond manufacturing facilities in India have closed down earlier than usual for the Diwali holiday, significantly reducing the output of polished diamonds.

 

Diwali: The Diamond of Festivals

Ok, so Diwali is India’s biggest, spectacular event of the year. But how much does it really affect sales and shopping? The answer? Significantly. Recent research reports that there has been a whopping 91% increase in online transactions in the lead up to Diwali this year. For retailers in India, the festive seasons accounts for approximately 40% of annual sales. However, if shoppers are taking to the online world in droves, 2017 has been a disappointing one for bricks-and-mortar stores. Certainly the newly implemented GST tax is being felt. Yet, on the other hand, reports show that there has been a last-minute surge in retail sales for malls and brands. And it seems that consumer electronics have emerged as the winning category this year.

 

Diwali and the Diamond Industry: A Reason to Sparkle

When the mood is festive, there’s every reason to spend on jewelry and diamonds. Diwali, in all its amazing splendor, is definitely the festival of bling. In fact, purchasing gold for Diwali is believed by many to bring good fortune. The Diwali season always sees strong marketing and advertising of jewelry, and for jewelry designers, Diwali is the perfect time to promote fabulous statement pieces in keeping with the spirit of the festival. This includes bold, ornate jewelry designs adorned with diamonds and colored gemstones. In addition to magnificent gold and diamond encrusted jewelry, retailers also offer giveaways and promotions, which has become a trend during the Diwali season. For one Indian retailer, this included giving 75% off of jewelry, and a free silver coin with every purchase, an auspicious gift believed to bring prosperity and luck. It’s all part of the tradition of giving that goes hand in hand with the Diwali experience.

 

When it comes to giving on Diwali, nothing beats the feel-good story from last year, when a Surat-based diamond merchant gifted his employees with over 1200 cars, 400 apartments and jewelry. As a show of appreciation for the company’s staff, it was a fabulous gesture. For the Indian diamond industry, which produces 8 out of every 10 diamonds in the world, Diwali is a good reason to celebrate. In spite of this year’s downturn, we look foward to the future prosperity of the diamond manufacturing industry in India, and wish all our colleagues, partners and customers a very happy Diwali season full of blessings and joy.

 

 

 

 

Subscribe to the Diamond Blog

Get the latest technology, grading and retail news straight from the source, straight to your inbox.


MORE FROM THE DIAMOND BLOG

World Famous Jewelers: The Names Behind the Designs. Part One: Harry Winston

Tiffany & Co., Cartier, Harry Winston – all famous jewelers and household names. We see their designs on the red carpet, along with Boucheron, Fabergé, Piaget, and many more. These companies are more than just brand names; they were the passion and brainchild of people who loved high quality, stylish jewelry, and who wanted to […]

The Sparkling Enigma: Ancient and Modern Diamond Myths

Diamonds are steeped in myth and legend. From the moment diamonds were first discovered, their power and mystery have intrigued us humans. Throughout the centuries, different diamond myths have emerged from different cultures. Even today, with so much scientific knowledge about diamonds at our fingertips, there are various beliefs about diamonds – many of them […]

3 Things You’ve Probably Never Seen Before in a Diamond Grading Report

The diamond grading report has been in use since the 1950s, when the 4Cs concept was first introduced. Today, diamond reports are a common accompaniment to any diamond sale. The grading report, issued by a gem lab, is regarded by consumers as a kind of “ID card” for the diamond. Diamond grading reports give consumers […]

Advisor® Tender 1.0: The First Offline Rough Planning Software that Supports Windows 10

Diamond tenders, held in the main diamond trading hubs of the world, are the place where rough diamond traders and manufacturers inspect and purchase rough diamonds. These rough diamonds will be planned and cut for future sale in the polished diamond market. Every buyer at a diamond tenders aims to purchase rough diamonds that will […]

SPECTRUM – Diamond Industry News #23

Welcome once again to SPECTRUM, our periodic blog series focusing on a roundup of all the latest diamond industry news and trends. You know, we do this every month to two months, and no edition of SPECTRUM goes go by without a piece of fascinating news about diamonds from the world of science. Whether its […]

What Is Diamond Light Performance?

What Is Light Performance? Light performance is the visual effect created by the play of light as it enters and exits a diamond, moving, bending and reflecting within the stone’s facets. Light performance is a unique concept to diamonds. Unlike other gemstones, a diamond’s appearance is directly impacted by the way it interacts with light. […]

5 Diamond Trade Shows You Shouldn’t Miss

For anyone in the diamond and jewelry industry, last week was a big one – the annual JCK show was held in Las Vegas. Touted as one of the most important diamond and jewelry trade shows in the US, JCK, which runs annually in late May to early June, is a good example of the […]

Blockchain in the Diamond Industry: A Primer for Beginners

The diamond industry has been chattering about blockchain for some years now. In fact, the Everledger company, one of the first to focus on diamonds in the blockchain, was founded back in 2015. It has already tracked 2 million diamonds. Recently however, concrete steps have been taken to start using blockchain diamonds in practice on […]

All the Duchess’s Bling: Royal Wedding Jewelry Roundup

Who doesn’t love a royal wedding? Amid all the tradition, the pomp and ceremony, the patriotic flag waving, royal coaches and cucumber sandwiches, there’s one aspect of any royal wedding that stands out for diamond and jewelry fans everywhere – the royal wedding jewelry. Which jewels will the bride wear? Which jewelry will be lent […]

Mother’s Day Wrap Up – Do Moms Really Want Diamond Jewelry?

This week, most countries around the world celebrated Mother’s Day, the traditional day of appreciation for moms (and mums). Like many holidays, such as Valentine’s Day and Christmas, Mother’s Day has turned into a highly commercialized celebration, a busy time for retailers of flowers, chocolates, and of course, jewelry. In fact, this year, the forecast […]