The growing popularity of the new choice in diamonds amongst the tech-savvy and socially conscious generation
Some of the affluent Millennials segment leading the shift towards the new kind of diamond More and more luxury brands are now focusing on a new emerging category of consumers, the `Millennial´ generation. As the definition of luxury changes, so do their preferences for jewellery buying. Some of the affluent millennials segment leading the shift are exhibiting a keen interest in laboratory grown diamonds over mined diamonds. One of their main diamond buying moments is the engagement ring. The socially networked generation is more inclined to sustainability and value generated by the purchase not only to themselves but the society and planet at large. This buy is one of the most important and thoughtful investments for the technological paced and socially conscious generation. Some studies and researches in the recent past show the important reasons for these changing preferences; few of them are the advantage of a real diamond at 45% cheaper, 100% conflict free and environment friendly.
Are Millennials and Laboratory grown diamonds ready to tie the knot? An article in Luxury Society, an online forum for the luxury industry titled ‘Are Millennials & Synthetic diamonds ready to tie the knot?’ says, “Synthetic diamonds have the same chemical and physical properties as their mined counterparts with the exception that they were grown in a laboratory over several weeks rather than in the depths of the earth’s crust over millions of years. This distinction and the advantages that come with it, have given Millennials a new found interest in synthetic diamonds.”
Millennials and the Engagement ring Millennials have embraced the tradition of an engagement ring, but with a twist. The millennials like everything unique. The youth want their jewellery with a story, reflecting their creativity and eccentricity. They prefer customized and non-uniform look. It is especially important to millennial couples that their engagement ring feels unique.
Some studies show that some young couples are making an event out of getting engaged by planning it together and making it a mutual exchange. This trend of mutually planning a celebratory “engagement day” rather than the convention, also means a more informed and educated decision while choosing the diamond for the ring than ever before.
The colour diamonds were accessible to only a select group of consumers in the past due to its rarity and prices. With colour laboratory grown diamonds, it is now within reach for the millennial generation to choose for an ethical and unique option which is rare at the same time. Madestones®offers beautiful pink, blue, cognac and yellow diamonds at very affordable prices. With the growing awareness and education of laboratory grown diamonds, demand and popularity for colour diamonds is rapidly increasing amongst today´s youth.