30-03-2021
A recent report from the De Beers Group says that US consumers expressed strong demand for diamond jewellery in Q4 2020, outperforming other luxury categories. It also shows that nearly half of consumers do not consider laboratory-grown diamonds (LGDs) “real”.
According to the sixth Diamond Insight flash report published by De Beers last Thursday, interviewed retailers in the States revealed strong consumer demand for classic diamond jewellery as shoppers prefer goods with emotional meaning and enduring value.
Besides, the report provided insights from the latest study on LGDs by the diamond guru. It says it witnessed an increasing awareness of LGDs among US consumers with about two-third of them being aware of the category. Forty-seven percent of consumers did not agree with the statement that LGDs are “real”. They considered buying LGDs as “fun”, “fashionable” and a self-purchase item as an alternative to apparel or leather goods.
When responding to the findings of the study, CEO of De Beers’ Lightbox Jewelry Steve Coe said that the market prices of its LGDs at around or below US$1,000 are derived from a reasonable commercial margin above the actual product cost which is exactly where consumers want them to be. (Photo courtesy: De Beers)
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