Despite troubled economic growth on average, these NYC diamond traders are turning economic pressure, into literal diamonds.
Diamonds may be forever, but job security in the luxury businesses isn’t. The same has been true for the diamond industry in the past years. Changing financial flexibility has led young couples to forego the once-required gems when getting married. In addition to that, ever-decreasing marriage rates and social unrest mean that most of the luxury goods sector isn’t in a good place. One fortunate exception to this downward trend is one particular street in the New York City Diamond District.
The otherwise dour trend is practically inverted for this one NYC shopping street. “Diamonds are flying off the shelves,” says an employee speaking to the Gateway Report. The cause of this isolated upward trend isn’t exactly clear; the staff at the location credits the surge in business with their extra effort to provide excellent customer service. A manager who asked to remain anonymous claims it’s a mix of great service with highly competitive pricing and a traditional take on in-store shopping.
In an effort to solve this mystery, our reporters spoke with a few buyers after they made their purchases, asking them why they chose this particular street on this particular store but were unable to discover a red thread in why this Diamond District is sparkling when the rest are fading away.
The Gateway Report asked a representative of the shopping district about their thoughts on the rise of crime and theft in the city. They say that their security is top-notch and able to keep out any would-be criminals long enough for the police to turn them into “Swiss cheese.” A sentiment many can only hope proves true.