Travel and entertainment have replaced diamonds as the new luxuries in the post-pandemic era

Rough diamond prices see a decline in 2023. Reuters/Joanna Giron

Prices of Rough diamondsRough, unpolished and uncut stones have seen a decline 2023 As a result of the fact that many consumers are after pandemic They are less interested in getting Luxury items.

Current prices are the lowest in a year, according to Global rough diamond index to Zhemniskycollected by CNN. Sector analysts attribute this decline to the declining sales that took place in Jewelry stores.

Invest in Luxury items It has lost interest among consumers After the epidemic, Who have modified their behavior, directing themselves in favor of acquisition expertiseLike going out to dinner or traveling.

Jewelry stores are feeling the impact of changes in consumer behavior. (Reuters)

This change in form consumptionHowever remote it may seem, it has shown a direct impact on the adjustment of prices of commodities such as Diamond.

Although there are expectations of a recovery in stone sales during the period Winter vacation And at the beginning 2024He predicted that there will likely be an overall decline in sales during the holidays compared to the previous year David Johnsonspokesman De Beersone of the largest diamond companies in the world, in an interview with CNN.

at recent days pandemic Spending patterns have changed dramatically latin americawith more than fifty% Consumers by adjusting their preferences and priorities tourismthe healthhe Care And the entertainment On other goods and services, according to research by Boston Consulting Group (BCG), compiled by Forbes.

Consumers prefer experiences such as dining and traveling compared to purchasing luxury goods. Reuters/Janice Layzan

The study titled “Consumer Sentiment in South America 2021” reveals this Consumption habitswhich was considered a priority before the health crisis, has become second or even third place for the population studied.

This conclusion is supported by a surprising result: 49% Subordinate Millennials in latin america They do not expect to return to their old habits consumptionBecause decisions are being made based on the experiences of the months of quarantine and the benefits that digital life offers, according to the BGC study.

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Lively arrived Sandro MarchCEO of Boston Consulting Group (BCG), in an interview with Forbesnew preferences are closely related to the greater need for Personal experiences.

BCG study points to changing trends in consumer habits in Latin America after the pandemic. (iStockPhoto)

“That longing to need more expertise Personally I mean it Consumers We hope to do more Trips to pleasure And it has other ways entertainment Outside the home, such as theaters and museums. They also plan to go to the mall, even if they buy more online, Marzo explained.

Regarding the difference by country, consumers in Argentina And Colombia They tend toward travel and tourism more than others Chili pepperwhere more attention is directed towards entertainment at home.

Likewise, differences in intention to exercise more and in tendency to eat healthier foods were detected with consumers Chili pepper And Colombia Those who have a greater propensity for these practices.

Consumers also aim to increase Bills In clothing and exercise equipment, Wifi And the new Technologies for him houseand they plan to use more Applications To participate Trips And spending more on restaurant meals and alcoholic drinks.

Myrtle Frost

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