NAICS Code 458310-05 - Diamonds (Retail)

Marketing Level - NAICS 8-Digit

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NAICS Code 458310-05 Description (8-Digit)

The Diamonds (Retail) industry involves the sale of diamonds to individual consumers through retail stores. These stores may specialize in selling only diamonds or may offer a range of other jewelry items as well. The industry is highly competitive and requires a deep understanding of the diamond market, including the 4Cs (carat weight, cut, color, and clarity) that determine a diamond's value. Retailers must also be knowledgeable about the latest trends in diamond jewelry and be able to provide excellent customer service to differentiate themselves from competitors.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 458310 page

Tools

Tools commonly used in the Diamonds (Retail) industry for day-to-day tasks and operations.

  • Diamond testers
  • Loupes
  • Diamond scales
  • Diamond cleaning solutions
  • Diamond polishing cloths
  • Diamond saws
  • Diamond drills
  • Diamond tweezers
  • Diamond files
  • Diamond cutting wheels

Industry Examples of Diamonds (Retail)

Common products and services typical of NAICS Code 458310-05, illustrating the main business activities and contributions to the market.

  • Engagement rings
  • Diamond necklaces
  • Diamond earrings
  • Diamond bracelets
  • Diamond pendants
  • Diamond wedding bands
  • Diamond tennis bracelets
  • Diamond stud earrings
  • Diamond solitaire rings
  • Diamond anniversary bands

History

A concise historical narrative of NAICS Code 458310-05 covering global milestones and recent developments within the United States.

  • The history of the "Diamonds (Retail)" industry dates back to the 15th century when diamonds were first discovered in India. The industry grew rapidly in the 19th century when diamond mines were discovered in South Africa. The discovery of the Kimberley Mine in 1867 led to a significant increase in the supply of diamonds, which in turn led to a decrease in their price. In the early 20th century, the De Beers company emerged as the dominant player in the diamond industry, controlling the supply and price of diamonds. In the United States, the industry saw significant growth in the 1940s and 1950s, with the rise of the middle class and the popularity of diamond engagement rings. In the 1980s, the industry faced a crisis due to the emergence of synthetic diamonds, which threatened to disrupt the natural diamond market. However, the industry managed to overcome this challenge by developing new technologies to detect synthetic diamonds and by emphasizing the unique value of natural diamonds.