Shrinking Gems Are a Headache for the Diamond Industry

Diamonds are making up a smaller part of jewelry demand
Gemdax says industry needs to spend more to entice consumers

An employee handles rough diamonds at the ICG rough diamonds trader's office in the diamond district of Antwerp, Belgium, on Thursday, July 20, 2017. An ugly year for diamonds in the vital U.S. market is piling pressure on Europe’s historic center of the $80 billion global trade.Photographer: Dario Pignatelli/Bloomberg

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By Thomas Biesheuvel

February 9, 2018 at 5:00 AM UTC

Updated on

February 9, 2018 at 1:05 PM UTC

This article is for subscribers only.

The diamond industry has a size problem.

Instead of splashing out on a ring or necklace featuring one big, bright diamond, shoppers are increasingly choosing pieces with several, smaller gems, which are often lower quality. And selling jewelry with smaller stones has been a good way for retailers to save money.