The findings reveal that such applications have streamlined procurement and selling processes, improved communication, and increased transparency within the industry. By connecting buyers and sellers across geographical boundaries, these mobile applications have facilitated a more efficient and globalized diamond trade ecosystem. The adoption of these apps has resulted in improved market efficiency, reduced transaction costs, and expanded access to a broader range of diamond inventory. The study also highlights challenges and limitations faced by the industry in fully embracing these apps. The research report provides valuable insights for industry practitioners, policymakers, and researchers interested in understanding the implications of technology-driven changes in the B2B segment of the diamond industry.
The diamond industry is one of the oldest and most traditional industries in the world, with a significant portion of its trade occurring through B2B channels. The B2B trade in the diamond industry involves the sale and purchase of diamonds between manufacturers, traders and retailers, and it is a critical part of the global diamond supply chain.
The B2B trade in the diamond industry faces several challenges, including the lack of transparency, price volatility, and the risk of fraud. The lack of transparency in the industry makes it difficult for buyers and sellers to determine the true value of diamonds, while price volatility can make it challenging for businesses to plan and budget effectively. Additionally, the risk of fraud is a significant concern, with many instances of fake diamonds and fraudulent transactions being reported in the industry.
Denne historien er fra July - August 2023-utgaven av Diamond World.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra July - August 2023-utgaven av Diamond World.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
GJEPC's IIJS Tritiya: A Grand Showcase of Indian Jewellery Excellence
The latest edition of IIJS Tritiya surpassed its predecessor in scale and sophistication, boasting a staggering 900 exhibitors and 1,900 stalls spread across 40,000 square meters. Serving as an expansive marketplace, it facilitated crucial connections and collaborations for industry players, drawing over 15,000 pre-registered visitors from 500 cities in India and 60 countries, which emphasizes its global importance.
Venus Jewel ETHICAL SOURCING, RESPONSIBLE MANUFACTURING AT THE CORE OF VENUS JEWEL
Venus Jewel began its journey with a vision to revolutionize the industry, and took the bold step of becoming the first to specialize in premium size natural diamond manufacturing in India. This pioneering approach has allowed the company to differentiate itself from competitors, and cater to a unique market segment
GemGenève BUDDING DESIGNERS TO WATCH OUT FOR AT GEMGENEVE
Visitors to GemGenève's forthcoming edition, between May 9 and May 12, 2024, at Palexpo Hall 1, should not miss the amazing space known as the Designer Village. Bringing together rising stars of the gem and jewellery industry, the Village offers an uplifting overview of some of the most promising talents
Russian Diamond Imports ROUGH DIAMOND IMPORT DOWN BY 8% OWING TO G7-EU BAN: GJEPC
The phased ban on the import of Russian diamonds imposed by the G7 nations and the EU has thrown the global industry out of gear - India is particularly concerned as the livelihood of millions of people might be impacted. Vipul Shah, Chairman, GJEPC, talks to Suneeta Kaul about the steps that are being taken to address the challenges and mitigate the situation
THE NEW JEWEL IN TOWN: LAB-GROWN DIAMOND JEWELLERY TAKES CENTRE STAGE
Lab-grown diamond jewellery is not a fad. While many Indian retailers choose to be circumspect about jewellery laden with labgrown diamonds, which are chemically, optically and physically identical to natural diamonds, there is most definitely a revolution happening in this space, driven by demand backed by sheer affordability
Guinness World Records Recognizes Largest Tanzanite Sculpture
On March 9, 2024, a momentous occasion took place at the Rice Northwest Museum of Rocks & Minerals in Hillsboro, Oregon, marking a historic milestone in the world of gemstones.
Signet Jewelers Reports 6.3% Decline in Q4
Signet Jewelers reported a 6.3% decline in total sales to $2.5 billion during the quarter that ended February 3, 2024. Same-store sales were down 9.6%, compared to the previous year.
GIA Opens New Lab in Dubai
Gemological Institute of America (GIA) opened a new, state-of-the-art diamond grading laboratory, GIA Laboratory DMCC (Dubai Multi Commodities Centre) in Dubai on February 19, 2024.
WFDB Concludes Annual Presidents' Meeting in Shanghai
The World Federation of Diamond Bourses (WFDB) concluded its annual Presidents’ Meeting for 2024, held in Shanghai, China.
GJEPC Presents 50th India Gem & Jewellery Awards to Export Leaders
The Gem & Jewellery Export Promotion Council (GJEPC) presented the coveted 50th India Gem & Jewellery Awards (IGJA, to exporters.
