The De Beers Group has announced that 88% of US consumers believe it is better to invest in fewer, longer lasting jewellery items rather than short-term fashionable trends.
The group’s latest diamond insight flash report analysed the changing opinions towards lab-grown diamonds (LGD), with 47% of respondents disagreeing that LGDs are “real”.
However, the report found that consumers will still consider acquiring LGDs due to their cheap nature, as well as their “fun” and “fashionable” perception.
The De Beers Group found that consumer trends differentiated between natural and lab-grown diamonds, with 60% of the 5,000 respondents claiming that it is key for natural diamonds to be classed as “authentic”, compared to just 6% for LGDs.
Moreover, 41% attributed “romantic” to be a key phrase for natural diamonds, with only 6% for LGDs.
Commenting on the findings, Steve Coe, CEO at Lightbox Jewelry, said: “We have always sold our LGDs at a fair and transparent price, derived from a reasonable commercial margin above the actual production cost, rather than hitching it to what a natural diamond’s value might be.
“Recent LGD price falls simply indicate that we are today where others will likely be tomorrow. Around or below $1,000 (£726). Exactly where the consumer wants us to be.”