Botswana and De Beers Launch Marketing Initiative to Revive Diamond Sales
Botswana and De Beers have initiated a marketing campaign to revive interest in natural diamonds due to a decline in sales. Natural diamond prices have fallen significantly, while lab-grown diamonds see an even greater decline. This joint effort aims to enhance the ethical value of natural diamonds and stabilize market demand.
In light of a notable decline in global diamond sales, Botswana and De Beers have launched a collaborative marketing initiative designed to rekindle consumer interest in natural diamonds. This initiative is a response to the market downturn, where natural diamond prices have decreased by 26% over the past two years, while lab-grown diamonds have faced an even steeper price reduction of 74% since 2020.
The marketing initiative by Botswana and De Beers represents a strategic effort to address the declining demand for natural diamonds amid changing consumer preferences and ethical concerns. While the effectiveness of these efforts in reversing market trends remains uncertain, they signify a commitment to preserving a vital sector of Botswana’s economy.
Original Source: www.zawya.com
