Here the lab-grown diamond specialist takes a look at what the data says about end-customers’ opinions on the booming product category.
Green Rocks’ Maiko Eaton explains: “This challenges the industry stereotype that it is largely only younger consumers who are buying laboratory-grown diamonds.
“Of the 1,500 people polled, 78% of whom reacted positively, over half were between 36-55. I think most jewellers would find this number surprising. There is certainly the preconception that laboratory-grown diamonds attract a younger generation who are environmentally-minded.
“Certainly that generation is in their engagement years and should be a focus for jewellers. However, the data also shows us that 45-plus age groups are also highly engaged by laboratory-grown diamonds and have the purchasing power to gift or self-purchase.
“This notion that slightly older generations still buy into the romance of a natural diamond does not hold true.
“Holding onto just one product with a story of love and history may not be the smart move anymore.”
Eaton sums up: “Consumers of all ages want choice between the two products, and I see jewellers succeeding daily by offering their customers that choice.”
See the rest of the report HERE.