The diamond segment continues to evolve. Producers should expect to see some changes in the segment mainly because their customer base will have the presence of more millennials. That these Gen Y members will continue to change the sector is a point we highlight in the following list of diamond trends.
Millennials Will Keep Shaping This Sector
Millennials are known for damaging some industries, but that they would put an end to the diamond sector is a far-fetched thought. Millennials continue to make more fiscally conscious choices concerning diamond buying. Several customers consider diamond to be an investment that is as worth preserving as their relationship.
Even so, those millennials are seeking the most inexpensive loose diamonds, or the ones that fall under their budget. The industry might face its all-time highest growth down the road, provided that producers think about trends and take actions suitable to the circumstances.
Lab-made Diamonds
Several millennials consider environmentally-friendly practices and climate change to be the things that play the main role in their buys. Does your brand have non-green practices? Is it near the completion of the mining life? If the answers to the two questions are a yes, then as a brand, you should think about making certain green changes.
The environmental impact of man-made diamonds is lower compared to their natural/mined counterparts. The lab-created rocks have the same chemical, physical, and optical properties as the mined ones, so average customers find few differences between the two. Only experienced jewelers and trained eyes can tell a lab-made diamond and mined diamond apart. For this, they look at the microscopic engraving below the lab-made diamond.
The artificial stones have become more popular than ever before, and these are likely to change the diamond sector. The lab-created stones offer the affordability and environmental-friendliness that almost every consumer is seeking.
Other Alternatives To Mined Diamonds
That said, a laboratory-grown diamond is not the only substitute for the mined stone. Other gemstones have appeared as alternatives to it for future brides and grooms who wish to avoid conflict diamonds. For an uninitiated, a conflict diamond is one mined and traded illicitly to be used for funding fighting.
Lab-grown diamonds are at the forefront of the movement towards conflict-free diamonds, but moissanite and moonstone have gained popularity too. These two gemstones are non-conventional, and they offer viable alternatives to blood diamonds.