Previously, we have covered INSTORE Magazine’s multipart look at the Plumb Club’s study of the current purchasing behaviors of jewelry customers. Part four focuses on the opportunities for mined (called “natural” diamonds in the article) and lab-grown diamonds (LGD). Plumb Club’s research shows that consumers aren’t confident that they know the difference.
While 68% of consumers claim to know the difference to some degree, only 41% get it right when asked what the precise differences are. 39% believe that LGD possess only some of the same chemical, physical, and optical properties of a mined diamond, while 20% believe that LGD are diamond simulants.
Consumers also expressed a preference for mined diamonds, a majority would not be opposed to receiving an engagement ring with a lab-grown diamond. 86% of respondents said they would buy fashion jewelry with LGD.
Nearly half of consumers said that the lower price of LGD was the main reason they would consider buying a lab-grown diamond. Only 16% said ethical reasons were most important to them. For more data, read the full article in INSTORE Magazine.
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