JCK show sees fewer but more serious buyers with reducedbudgets that reflect their lower inventory needs. Retail environment undergoingunprecedented change requiring jewelers and diamantaires to demonstrate theiradded-value service in price-sensitive market. US outlook positive if thediamond trade can meet the demands of a millennial consumer base. De Beersestimates 2016 global diamond jewelry demand +0.3% to $80B with US demand +4.4%to $41B. Forevermark targets female self-purchasers as growth area for 4Q. DPAsecures $57M budget for 2017 generic marketing, allocates $50M to the US.Cushion, 26.27 ct., I, VVS2 diamond bought in 1980s for $13 sells at Sotheby'sfor $848K.Fancies: Steadydemand for Pears in the Far East, with Ovals overtaking Pears as the strongestshape in the US. Shortages of fine-quality large Pears and Ovals. Cushionsstable. Emeralds selling better than Princesses. Some demand for big fancyshapes, but buyers extremely picky. Improving demand for Radiant, 3.01 to 9.99ct., D-I, SI1-SI2 elongated stones. Large price differentials betweenexcellent- and average-cut fancies. Off-make, poorly cut fancies illiquid andvery hard to sell, even at very deep discounts.