Nivoda reports acceleration of virtual trade during COVID-19 pandemic

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Diamond trading platform Nivoda has reported a 67 percent growth in turnover in the first six months of 2020, supported by an accelerated shift into digital technologies during the coronavirus pandemic.

Nivoda is seeing an increase in virtual selling, where both online and an increasing number of brick-and-mortar retailers sell diamonds they do not physically hold in stock, the company said.

“I think the most important thing to realise is that, the majority of the current generation of buyers search online first and the next generation in a few years couldn’t imagine doing it any other way,” said David Sutton, Nivoda CEO.

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