SurveysOct 26, 2021
5 Takeaways from PGI’s Latest SurveySurveysOct 26, 2021
We’ve Reached the Sustainability ‘Tipping Point,’ De Beers Says
It has become, and will continue to be, an important factor in diamond purchases, according to the 2021 Diamond Insight Report.
An aerial shot of the Okavango Delta in northern Bostwana, which De Beers Group has pledged money to protect in a partnership with National Geographic. De Beers is betting big that having a brand perceived as beneficial to people and the planet will pay off with consumers in the coming years. (Photo credit: Kostadin Luchansky/National Geographic)
London—What’s most important to consumers when buying diamonds, according to De Beers’ newest report?
Price, design and, now, sustainability, a trend at least a decade in the making that’s now become an imperative for businesses, De Beers Group executives said Monday in an interview ahead of the release of the 2021 Diamond Insight Report.
As part of this year’s report, De Beers commissioned consulting firm GlobeScan to conduct a worldwide study on consumers and their attitudes toward sustainability, particularly as they pertain to natural diamonds.
What the study found is that consumers—particularly younger consumers—care about sustainability when buying a diamond and, what’s more, some of them are willing to pay a premium for it.
The issue of sustainability is quickly becoming “table stakes” for companies in the diamond business, said David Prager, De Beers executive vice president and chief brand officer.
“It won’t be a choice or an advantage to have a sustainable brand or product; it will be a must-have,” he said.
According to the study, nearly 60 percent of consumers will select a diamond from a brand that demonstrates that it operates in an environmentally and socially responsible way over one lacking sustainability assurances. Of those, 85 percent are open to paying an average premium of 15 percent.
The study also showed that the more important the occasion, the more likely consumers are to want a diamond that was produced responsibly.
Sixty-two percent of people buying natural diamonds for weddings, engagements and anniversaries rated sustainability factors as top priority in their purchasing decision.
That number dropped to 50 percent for diamonds women and men were buying for themselves, and 45 percent for diamonds purchased for other occasions, like Mother’s Day or Christmas.
Esther Oberbeck, De Beers’ senior vice president of strategy and analytics, has studied consumer behavior around diamonds for years.
She said with this most recent report, she was surprised at the geographical commonalities on sustainability it revealed, with consumers worldwide concerned about this issue.
The report also notes that sustainability concerns transcend age as well, though younger consumers— millennials in particular—are the current leaders in the movement, with Gen Z coming up behind as they gain more purchasing power.
The study found that 68 percent of millennials and 65 percent of Gen Zers have bought products because of their sustainability credentials, compared with 42 percent of baby boomers.
When it comes to jewelry specifically, 30 percent of millennials and 21 percent of Gen Zers have purchased jewelry with sustainability credentials, compared with only 8 percent of boomers.
Sustainability considerations are also higher among consumers with a higher education (67 percent) and from affluent backgrounds (70 percent), whom, it should be noted, are the ones with excess disposable income to spend on sustainable products.
Related stories will be right here …
Price, design and, now, sustainability, a trend at least a decade in the making that’s now become an imperative for businesses, De Beers Group executives said Monday in an interview ahead of the release of the 2021 Diamond Insight Report.
As part of this year’s report, De Beers commissioned consulting firm GlobeScan to conduct a worldwide study on consumers and their attitudes toward sustainability, particularly as they pertain to natural diamonds.
What the study found is that consumers—particularly younger consumers—care about sustainability when buying a diamond and, what’s more, some of them are willing to pay a premium for it.
The issue of sustainability is quickly becoming “table stakes” for companies in the diamond business, said David Prager, De Beers executive vice president and chief brand officer.
“It won’t be a choice or an advantage to have a sustainable brand or product; it will be a must-have,” he said.
According to the study, nearly 60 percent of consumers will select a diamond from a brand that demonstrates that it operates in an environmentally and socially responsible way over one lacking sustainability assurances. Of those, 85 percent are open to paying an average premium of 15 percent.
The study also showed that the more important the occasion, the more likely consumers are to want a diamond that was produced responsibly.
Sixty-two percent of people buying natural diamonds for weddings, engagements and anniversaries rated sustainability factors as top priority in their purchasing decision.
That number dropped to 50 percent for diamonds women and men were buying for themselves, and 45 percent for diamonds purchased for other occasions, like Mother’s Day or Christmas.
Esther Oberbeck, De Beers’ senior vice president of strategy and analytics, has studied consumer behavior around diamonds for years.
She said with this most recent report, she was surprised at the geographical commonalities on sustainability it revealed, with consumers worldwide concerned about this issue.
The report also notes that sustainability concerns transcend age as well, though younger consumers— millennials in particular—are the current leaders in the movement, with Gen Z coming up behind as they gain more purchasing power.
The study found that 68 percent of millennials and 65 percent of Gen Zers have bought products because of their sustainability credentials, compared with 42 percent of baby boomers.
When it comes to jewelry specifically, 30 percent of millennials and 21 percent of Gen Zers have purchased jewelry with sustainability credentials, compared with only 8 percent of boomers.
Sustainability considerations are also higher among consumers with a higher education (67 percent) and from affluent backgrounds (70 percent), whom, it should be noted, are the ones with excess disposable income to spend on sustainable products.
The behavior of jewelry consumers is in lockstep with the broader global interest in sustainability in all sectors—not just diamonds and other luxury goods, but food, beauty products, household products, cars, and more.
“There is no doubt in my mind that this is not a fad,” Oberbeck said. “This is not going away. This is a mega-trend that is here to stay. I think consumers are telling us this message loud and clear.”
In the Diamond Insight Report, De Beers cited GlobeScan figures that show growing interest in issues of corporate social responsibility.
In 1999, GlobeScan conducted a study in which it asked consumers if they had considered rewarding a socially responsible company with a purchase or word-of-mouth referral. Less than half, 46 percent, said they had done so.
When asked that same question in 2020, 69 percent of consumers said yes.
In a GlobeScan Radar study conducted in 2010, 67 percent of consumers said they were interested in learning more about how companies were trying to be more environmentally and socially responsible.
By 2020, that percentage had risen to 86 percent.
And in another Radar study in 2015, less than half of consumers said they felt it was a company’s responsibility to have a “vision to make the world a better place.” Fast-forward to 2020, and that percentage stands at 64 percent.
Sustainability is an issue De Beers has been tracking—and investing huge amounts of money in—for years, starting with the launch of Forevermark in Hong Kong in 2008 through the introduction of De Beers Code of Origin in Las Vegas this year.
Prager said consumer interest in sustainability has accelerated over the past 18 months due to a confluence of factors: COVID-19; the social justice movement that started in the United States and spread worldwide; more people witnessing the first-hand effects of climate change; and more younger consumers reaching financial maturity.
All of this has brought society to what De Beers CEO Bruce Cleaver characterized as a “tipping point” for diamond purchases.
In the news release accompanying the report, Cleaver 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.”
Editors' Picks
Sponsored by
The De Beers Sustainability Study was released Tuesday as part of the 2021 Diamond Insight Report, titled “Sustainability: shaping the future of the diamond sector.”
The study is based on interviews with more than 8,400 people conducted in July.
GlobeScan connected with consumers in seven key markets for diamond consumption: the U.S., China, India, United Kingdom, France, Italy and South Africa.
Please check NationalJeweler.com in the near future for more analysis of the 50-plus page Diamond Insight Report, which can be viewed in its entirety on the De Beers website.
The study is based on interviews with more than 8,400 people conducted in July.
GlobeScan connected with consumers in seven key markets for diamond consumption: the U.S., China, India, United Kingdom, France, Italy and South Africa.
Please check NationalJeweler.com in the near future for more analysis of the 50-plus page Diamond Insight Report, which can be viewed in its entirety on the De Beers website.
More on Surveys
The Latest
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
SourcingSep 14, 2026
Gemfields Sells All Lots at First Emerald Auction in 9 MonthsThe company’s managing director of sales said the results demonstrate “continued strong demand for commercial-quality emeralds.”
Weekly QuizSep 10, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingSep 14, 2026
Diamonds Do Good Pledges Support for Eye Care ProgramThe nonprofit awarded a grant to the Gift of Sight initiative spearheaded by South African musician Black Coffee.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
MajorsSep 11, 2026
The Wishing Place by JTV OpensThe jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry ProfessionalsThe recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleThe auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
Policies & IssuesSep 09, 2026
8 Key Changes the FTC Made to the Jewelry Guides: A Refresher Learn more about the new terms for lab-grown diamonds and composite gemstones, and the major changes in store for precious metals jewelry.
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
