11-11-2021
De Beers’ latest research on diamonds says consumers consider sustainability as important as price and design when it comes to diamond purchases.
Titled Sustainability: shaping the future of the diamond sector, the eighth annual Diamond Insight Report published by De Beers on Tuesday looks into the sustainability issue in the diamond sector, and how it influences consumer decisions in buying natural diamonds.
Studying over 8,400 people in the key consumer markets including the United States, China, India, United Kingdom, France, Italy and South Africa, the report found that sustainability considerations were influencing consumer purchase decisions, with 60 percent and over 80 percent of opinion leaders having chosen to buy a product made in a more environmentally or socially responsible way over any other product.
The study also found that fine jewellery ranks third, after food and clothing, as the category most frequently purchased on the basis of sustainability considerations, with one in five consumers globally having bought jewellery because of its sustainability credentials in recent years.
“When it came to diamond jewellery, the study found that sustainability considerations were a key factor for consumers in all markets. Sustainability was ranked by 30 per cent of consumers as their most important consideration – above price and design – when choosing a diamond,” said the report.
The top five sustainability considerations for diamond consumers in the study were protection of the environment, fair worker treatment, conflict-free sourcing, supporting local communities and diamond origin.
Bruce Cleaver, De Beers Group’s CEO, said: "With sustainability being one of the key mega trends across all consumer sectors, this year's Diamond Insight Report explores how sustainability factors are influencing consumer attitudes towards diamonds. As is clear from this research, a tipping point has been reached – sustainability is no longer a trend that's coming over the horizon; it's already one of the key considerations in diamond purchases.” (Photo courtesy: De Beers)
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