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.”
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
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
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.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Weekly QuizAug 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
TrendsAug 07, 2026
Look Ahead with Syna’s Binoculars PendantThe “Star Gazer” pendant, our Piece of the Week, is Syna’s tribute to curiosity and the discovery of something new.
CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
FinancialsAug 06, 2026
Brilliant Earth’s Q2 Sales Up 6%, Driven by High-Income ShoppersThe retailer said it had its biggest Mother’s Day ever, with strong demand for higher-priced jewelry.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
CollectionsAug 04, 2026
Musician Carlos Santana Launches Jewelry BrandSantana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.
CrimeAug 03, 2026
Florida Man Gets 15 Years in Trio of Jewelry Store RobberiesThe 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.
WatchesAug 03, 2026
Citizen's New Spider-Man Watch Is a Collector’s DreamThe watch’s dial features an original design by Marvel comics illustrator Adam Kubert.
Lab-GrownAug 03, 2026
Chatham Releases First Men’s CollectionThe new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.
