De Beers reported that positive trends in demand for natural diamonds were observed in the United States during the holiday season.
Diamond Insight’s latest Flash report says that despite challenges in 2020, US consumers saw strong demand for diamond jewelry in the fourth quarter of this year, outstripping demand for other luxury goods and apparel categories.
“Interviews with retailers revealed strong consumer demand for classic diamond jewelry,” the report said.
The company said its research this month also showed that the pursuit of quality and long-term value among shoppers is expected to continue, with 88% of U.S. consumers surveyed said they felt it was better to invest in fewer items. better quality than goods that are fashionable, but their life is short.
According to De Beers, its research also shows that there is now growing consumer awareness in the US of lab-grown diamonds (LGD).
Consumers have separated natural diamonds from lab-grown diamonds by assigning to the former such important categories of experiences as “authenticity” (60% versus 6% for LGD); “Romance” (41% versus 6% for LGD); and “a sense of identity” (37% versus 3% for LGD).
“The main concern of US consumers about LGDs continues to be that they are not as rare as natural diamonds and will not retain their value over time, with 7 out of 10 consumers saying they will not pay more than 1,000 dollars for jewelry with LGD, ”- says the De Beers report.
“Although 47% of consumers disagree with the statement that lab-grown diamonds are ‘real’, consumers will still consider purchasing them as they are perceived as ‘funny’ and ‘trendy’, cost less than natural diamonds, and are viewed as an alternative to clothing or leather goods when buying for yourself, ”the company notes.