Diamonds in the Rough (Economy)

By Sean Ballent

De Beers has more than doubled its U.S. consumer-marketing budget for the holiday season. Chief strategic officer of Forevermark, the recently launched De Beers diamond brand, based his decision on new research that shows diamond jewelry to be the number-one gift for the holiday season. Why in a time of economic crisis would people be buying diamonds? It seems that the majority of women prefer to receive one gift that has a lasting value, rather than multiple smaller ones.

The campaign is planned to break during Thanksgiving weekend with an “emotional” TV ad. Print ads will feature shots of the company’s leading products and will be more conversational and philosophical than in the past. If consumers take stock of their priorities, diamond consumption should thrive. Lose your job. Buy diamonds. Makes sense, huh? As our Haute Ambassador Jeffrey Rackover keeps pointing out, diamonds make the best investment.

Via Forbes