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How to Buy Diamonds During the COVID-19 Pandemic

When the COVID-19 pandemic hit the world, a lot of things seemed to have been put to a sudden pause, if not a complete stop.

Our daily activities were affected and businesses were hit.

The diamond industry wasn’t immune to this.

But with the advent of technology, jewelers seemed to have found a route in order to adapt.

A lot of jewel shops like Shira Diamonds are business as usual with the help of online platforms.

Diamond Industry Update and the New Normal

Shira DiamondsIn truth, business isn’t the same as before. The same can be said on the perspective on the consumers themselves.

Although it seems to be pretty challenging, there are still ways on how one can buy diamonds even during the COVID-19 pandemic.

Is it a Good Idea to Buy Diamonds During the COVID-19 Pandemic?

The real question is whether or not buying a diamond during the COVID-19 pandemic is a good idea.

A lot of people were affected during this time especially in terms of employment and purchasing power.

Some businesses closed so some people were laid off from work. So a question arises whether a purchase of a precious stone is logical or not.

But on the other side of this debate, this seems to be a great opportunity to invest in diamonds because:

  1. The prices of diamonds from most retailers were reduced. De Beers, a major producer of diamonds, was one of those companies that reportedly cut their prices.
  2. There is somehow lower demand so the pricing is influenced.
  3. And when you buy now at a low price, its value may appreciate when the diamond industry returns to being stable post-COVID 19.

So if you think about it, buying diamonds whether loose or set in jewelries, isn’t a bad idea at all.

What are the Differences Now in the Diamond Market in 2021?

There are major differences in the diamond market today.

This of course was a result of jewel and diamond retailers trying their best to adapt in a very challenging and volatile market because of the pandemic.

Affected Markets: Wedding Industries and More

diamond market 2021 - Shira DiamondsIn 2020 when nations like the United States were still trying to figure out how to deal with COVID-19, strict health protocols and restrictions were put in place.

That is why the wedding industry was also badly hit due to cancellations of events.

Logically, this also heavily impacted the diamond market since the wedding industry is one of its major markets.

And when this demand for engagement and wedding rings dropped, prices were also reduced.

But as 2021 kicked in, the situation has somehow improved although still far from the pre-pandemic state.

Diamond retailers and jewelers learned how to capitalize on the power of the internet.

Through the proactive use of website, SEO, and social media, they were able to capture new markets.

But what exactly are the differences now in buying diamonds during COVID?

  1. Less in-store transaction.

    Understandably, there are fewer physical stores and retailers selling jewelries that are open.

    But at this point in time, more stores have already reopened compared to the situation in 2020.

    However, although some stores have reopened, transacting and buying isn’t as easy as before.

    Stores have put in place several protocols that may limit things you can do inside the premises.

    Some have even resorted to an appointment-basis system. So you can’t just enter their stores unannounced.

    Furthermore, the overall experience isn’t the same as before.

    Due to safety and hygiene measures, touching and examining several jewelries and stones may be limited.

    Read more information about cleaning and disinfecting public places by the CDC.

    diamond industry update - Shira Diamonds

  2. More virtual experience.

    What lacks in an in-store experience now is a win for the virtual word.

    Even before the pandemic hit, there is already a rising trend on online sales of diamonds.

    But this trend increased significantly because of COVID-19.

    The advantage of buying diamonds online is that it presents more options for shoppers.

    If a physical store has limited options or stock to show you, online diamond shops can offer more.

    Moreover, some online retailers can even offer cheaper and more competitive prices over what physical stores usually sell.

    We offer virtual appointments, too! Contact us today!

    While in terms of overall experience, the only disadvantage of buying online is that you can’t directly examine the rings or stones.

    So you have to rely on the reputation of the store you are buying from.

    But of course there are safeguards for this for the consumers.

    Looking Up Stores with Search Engines

    Reviews for online stores are available on search engines.

    And the great thing about this is you can even compare different online stores at the same time.

    A certain store may give a cheaper price over another store for a similar stone of jewelry. So this is a big win for clients.

  3. The rise of try-on kits.

    diamond market - Shira DiamondsSince there are a lot of restrictions in buying diamonds from physical stores, they have found ways to somehow improvise the experience you can get.

    The same tactics are also being done by online stores.

    As a customer, once you show your desire to purchase a certain jewelry, a try-on box or kit can be sent to your house.

    This box usually contains several replicas of the jewelry or stone you want to purchase. These replicas come in different sizes and are made of cheaper stones.

    Try-On Kits Help You Get the Product You Want

    The objective of having a try-on kit is to assure you as a customer that you’re getting the product you really want.

    The right product in terms of appearance, feel, weight, and size. Once you decide to purchase the product, the real one will be sent to you.

    Although this is a great alternative, an in-store experience remains more efficient for its overall experience.

  4. AI and Customer Chat Support

    Buying diamonds virtually wouldn’t be complete without the help of Artificial Intelligence and chat support.

    Some online stores are using proactive graphics and videos in exhibiting their products.

    To help customers see a product in a more efficient way, 360-degree photos and videos are used. This is a way to replicate what an in-store experience provides.

    Moreover, potential customers can chat these online stores if they have further questions on the products whether on loose diamonds, engagement rings, and basically anything.

The Present and Future of the Diamond Industry

Although the COVID-19 pandemic really gave the diamond industry a hard time, retailers and shops didn’t rest on their laurels.

Instead, they took up the challenge and adapted through some innovative ways.

So overall, buying diamonds during the COVID-19 pandemic remains a good idea.


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