To further understand local consumers’ view on diamond consumption, Diamond Federation of Hong Kong, China Limited (DFHK) conducted an online survey ‘2015 Consumer Choices on Diamond Consumption Research’ during 14 October 2015 to 9 November 2015. The survey successfully collected feedback from 1,000 individuals of which about 60 percent are females and 40 percent are males. Apart from consumption habits, the survey tries to understand interviewees’ preference and understanding of natural diamonds. The results were announced on 1 December 2015.
Despite that survey results largely suggest that consumers agree that natural diamonds are more precious than synthetic diamonds, over half of interviewees lack adequate understanding of natural diamonds. Only 44.6 percent could correctly answer the length of time required in the formation of natural diamonds. 4.9 percent even think that natural diamonds can be formed between 1 to 10 years.
Regarding jewellery purchasing, 86 percent of interviewees own more than one pieces of natural diamond jewellery and 6.9 percent own more than 11 pieces. 87.3 percent of the respondents agree that the diamond jewellery they purchase or receive should be natural diamond jewellery. Regarding their future consumption in the next year, 80.2 percent of the respondents plan to buy one or more pieces of natural diamond jewellery, 15.9 percent plan to buy three or more pieces.
In the wedding category, 95 percent of the respondents think diamond engagement ring and wedding bands must be made with natural diamonds. In a female-specific question regarding respondents’ reaction if they receive a synthetic diamond from their partners, 47.5 percent said they will be disappointed, they will not wear it and will not tell others about it; 29.5 percent said they will be disappointed, will still wear it but will not tell others about it; the remaining 23 percent said they will not be disappointed, will wear it as usual and are not afraid to tell others about it.
Furthermore, the survey found that 30.1 percent of the respondents own their first natural diamond during birthday occasions, followed by marriage proposals (16 percent) and anniversaries (10 percent). Among interviewees aged under 24, 55.7 percent own one to five pieces of natural diamond jewellery, which shows that the diamond industry has a huge young consumer market. 57.5 percent of the respondents with a monthly income of HK$10,000 or below own one to five pieces of natural diamond jewellery, hinting that diamond jewellery is increasingly popular.
To protect consumer rights, DFHK actively promotes ‘Natural Diamond Quality Assurance Mark’ to educate consumers via different channels, including their website, consumer inquiry hotline and seminars to introduce the difference between natural and synthetic diamonds. Vice-chairman-retail of DFHK, Chow Kit Shing said: “Trade Descriptions (Provision of information on diamond) Order has offered consumers protection. As long as the retail receipt states that the goods are diamonds, it must be natural diamond.”
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