Millennials are changing the landscape of diamond jewellery retail in today’s consumer market. With this in mind, the Gemological Institute of America (GIA) created M2M, a digital storytelling platform and app that provides a closer look into a diamond’s journey from mine to market, giving today’s consumers a more interactive and inventive retail experience.
According to Matt Crimmin, vice president of laboratory operations of the GIA, the institute considered three market factors when it developed M2M: Millennials’ expectation of a better buying experience from retailers; consumers focusing on gemmological reports alone due to increased online research; and the need for retailers to clearly explain to the consumer the difference between natural and synthetic diamonds.
“Better jewellery ‘stories’ may enhance the in-store experience, increase overall category interest and limit category defection. GIA has the scale, experience and credibility to deliver compelling ‘stories’ to satisfy new consumer needs,” commented Crimmin at a seminar on the sidelines of the June Hong Kong Jewellery & Gem Fair.
Dr. Shoko Odake, assistant manager of Gem Identification of GIA’s Tokyo laboratory, meanwhile, talked about iD100, GIA’s new gemstone-testing device, which can test loose or mounted diamonds of all sizes and shapes.
The easy-to-operate, sophisticated desktop instrument reliably identifies natural diamonds from all simulants and from diamonds that may be synthetic or treated, revealed GIA.
According to GIA, the mounted gem-testing device combines advanced spectroscopic technology; GIA’s extensive research into the qualities of natural, treated and synthetic diamonds; and decades of diamond analysis experience to identify more than 97 percent of untreated natural mounted and unmounted D-to-Z colour diamonds sized 0.9 mm or greater in diameter (approximately 0.005 carat).
Diamonds that may be synthetic or treated and all simulants are referred for further examination and confirmation.
“Screening of pink diamonds and identification of some coloured gemstones such as rubies, sapphires and emeralds are currently being tested,” revealed Dr. Odake.