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On-line Diamond Engagement Rings and Jewelry sales Up 20% in 2006!
Our colleague Ken Gassman of Idex Online (www.idexonline.com) reports astounding stats for the On-line Diamond and jewelry industry for 2006.
On-line sales reached 2.45 Billion, an increase of 20% over 2005 and represent approximately 3.9% of total jewelry industry sales of 63 Billion in 2006.
Ken goes on to say that while it took seven years – from 1996 to 2002 – for online jewelry sales to reach the $1 billion mark, it took only three years – 2002 to 2005 – to reach $2 billion in total sales. He forcasts continued robust growth of on-line diamond and jewelry sales and projects that sales will hit 3 Billion by 2008!
He projects three different scenarios for future growth with moderating growth the most likely scenario.
The graph below shows Ken's forcast for "moderating growth" over the next several years.
Very nice presentation, Ken.
We will follow this and keep you posted.
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