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Lab Diamonds Sparkle for Younger Buyers
7 Dec
Summary
- Lab-grown diamonds resonate with younger consumers, especially under $2,000.
- Fashion applications, like tennis bracelets, drive lab-grown diamond appeal.
- Natural diamonds attract affluent customers, while lab-grown suit budget shoppers.
The appeal of lab-grown diamonds is significantly growing among consumers under 30, driven by factors beyond just price. Particularly for engagement rings priced below $2,000, the cost-benefit advantage of lab-grown diamonds is a strong draw for those maximizing emotional value on a budget.
Furthermore, lab-grown diamonds are unlocking exciting fashion opportunities. Accessible price points make items such as diamond tennis bracelets a viable part of daily fashion wardrobes, catering to trends like jewelry stacking and reaching a broader customer base. This ease of design, due to reduced scarcity and yield loss compared to natural diamonds, offers greater creative freedom.
As a result, the market sees growth potential for both lab-grown and natural diamonds. While affluent consumers tend to prefer the allure and uniqueness of natural diamonds, lab-grown alternatives are increasingly relevant for budget-conscious individuals and those seeking everyday fashion pieces, influencing product mix.
