a few reasons for this. the first of all is weak demand. as we ve spoken about time and time again on this programme during the pandemic, nothing was more popular during the pandemic than staying at home and buying new computers, particularly for those who worked from home. demand was supersonic. those continues can t continue going forward. the other aspect is that many people bought fresh computers and, as a result a couple of years on, those computers are still relatively fresh and, therefore, a people aren t necessarily feeling the need to replace them. the other aspect is the economic forecasts going forward. with high interest rates and people struggling to pay their home loans, many aren t thinking about going out and upgrading their computers. of course, apple s going to be one of the companies hardest hit by this, because they make such a luxury, high end item. many see them as a luxury product. and the final aspect too is inventory. stores around the world bought up comp
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of living issues facing many of your potential customers? i mean, with people having to, well, to cut back on spending and let s be frank, diamonds, they re a luxury product. they are a want, not a need. yeah. i mean, people buy diamonds for two principal reasons. and one is they are a financial store of value, but the other one is they fulfil an enormously important emotional need in people s lives. so they are bought, and gifted and received, as i always say, at life s greatest moments, you know, the birth of a child or the celebration of a partnership or the celebration of some incredible event in your life, orjust to say thank you to someone in your lives. i think there s no question that inflation in general is not good for consumers, because obviously their mortgage cost goes up or their credit card debt goes up and they worry aboutjobs and things. and so, you know, when we talk about 23 at de beers, we talk about being only cautiously optimistic for the year ahead, i think we w
as well as for the diamond industry or what we call female self purchase. so the biggest growth of diamond consumers in america over the last ten years of female self purchase. and that s i think of course because females are becoming much more and more economically independent, which is fantastic for the world as well as for us. bruce, i m wondering how concerned are you with the cost of living issues facing many of your potential customers? i mean, with people having to, well, to cutback on spending and let s be frank, diamonds, they re a luxury product. they are a want, not a need. yeah. i mean, people buy diamonds for two principal reasons. and one is they are a financial store of value, but the other one is they fulfil an enormously important emotional need in people s lives. so they are bought, and gifted and received, as i always say, at life s greatest moments, you know, the birth of a child or the celebration of a partnership or the celebration of some incredible event in your
out a bit lower in 22. the third biggest market is india, somewhere around 7 9% and the fourth biggest market is japan. so geographically we have quite a nice spread of both east and west of people buying diamonds. in these different markets, there are different buying characteristics of consumers and of customers. in the us in particular we see a very strong trend which is very positive, i think, for the world as well as for the diamond industry or what we call female self purchase. so the biggest growth of diamond consumers in america over the last ten years is female self purchase. and that s i think of course because females are becoming much more and more economically independent, which is fantastic for the world as well as for us. bruce, i m wondering how concerned are you with the cost of living issues facing many of your potential customers? i mean, with people having to, well, to cut back on spending and let s be frank, diamonds, they re a luxury product. they are a want, not
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