Creating a brand in an emerging category isn’t simple. A well-thought-out strategy reflects where the category and best consumers are going rather than the current environment.
It’s easy to make mistakes.
In the jewelry business, the diamond industry’s powers-that-be define lab-grown diamonds as being inferior and something less than mined diamonds. Don’t allow someone else to control your narrative. Pull out your crystal ball and reimagine your future. Think bigger.
There’s an old axiom that says ‘everybody wants new art, but nobody wants a new artist.’ But it’s always the brand that disrupts that wins.
Victoria’s Secret was launched in 1977 at a time when advertising bras on television was taboo. At the time, Victoria’s Secret tapped into a cultural ethos that was redefining sexy. It disrupted the traditional lingerie business and opened the doors for consumers – Baby Boomers, then the largest consuming generation – who wanted to get in on the action and let their sexy show.
But the world has changed; the generations have shifted. The youngest Baby Boomers are now 56 years old and the oldest are 74. Being sexy isn’t top of mind anymore.
Now the Millennials have stepped in to become an even bigger consumer generation than the Baby Boomers were. With their rise, the culture has evolved, transparency rules, and there are fewer secrets. Victoria’s Secret televised fashion show which debuted in 2001 and was among one of the most-watched network specials during its nearly 20-year run. But it is no more. A good brand must stand the test of time and not get stuck in a time warp. Sorry Victoria, your brand is passé.
And so it goes with diamonds. That’s not to say mined diamonds are passe, but the exciting future opportunity in the jewelry market today is lab-grown diamonds. These man-made gems have the exact same chemical and structural composition. The can be even better because they have fewer inclusions and the best thing is you can offer bigger stones (more bling) for less than a mined stone.
Your opportunity to dominate what is sure to be a growth category in your market is here. We can help ensure your store has the right platform for success that expands your opportunities long-term. The best retailers execute today and plan for the future.
That plan should include lab-grown diamonds. We’ve done the research and can get you started marketing a product line that is the future of the diamond industry and yours. Call us at 717-336-1600 or contact us below.