These Are the Core Consumer Groups Buying Lab-Grown Diamonds
They include millennials of a certain age, women who buy jewelry for themselves, and “upgraders,” according to The MVEye.
Drawing on recent research, “The MVEye’s Core 3.5 LGD Consumer Segments” outlines the primary groups it says are driving the “explosive global growth” of the lab-grown diamond sector.
The groups identified through the research, as well as suggested communications strategies from the market research firm for each, are as follows.
Segment 1: “In the Know”
Who they are: This group is comprised of 25- to 38-year-old millennials who are already aware of lab-grown diamonds, whether it’s through friends or media. This group includes multiple ethnicities and non-traditional couples.
How retailers can reach them: The MVEye said retailers should focus on sustainability, social responsibility, and the technology behind the stones—offering them knowledge not only on the production process but also the ease of tracking them along the pipeline, co-founder Liz Chatelain said to National Jeweler.
They should also focus on what The MVEye calls the “price-to-value equation,” meaning they should point out to consumers that they can get more for their money with lab-grown diamonds.
After all, consumers are now willing to go over their initial budget to get a bigger and better diamond, Chatelain said.
Segment 2: “In the Dark”
Who they are: This group is comprised of 25- to 38-year-old millennials who haven’t heard of lab-grown diamonds but are easily convinced to learn more, the marketing firm said. This group also includes multiple ethnicities and non-traditional couples.
Chatelain said this is where retailers can have the greatest impact on customers’ buying decisions. She said it is their role to introduce these consumers to lab-grown diamonds, promote the product, and educate consumers about them.
She said retailers have told The MVEye that they introduce lab-grown as an option if the shopper wants a larger, good quality diamond that fits their budget. The conversion rate from an “assumed mine diamond shopper” to a lab-grown consumer can now be as high as 70 percent, she added.
How retailers can reach them: Focus on education and talking about the technology behind lab-grown diamonds as well as, again, the price-to-value equation.
Segment 3: “Upgraders”
Who they are: They are consumers ages 55 and older who are looking to upgrade their engagement rings. They may not already have a lot of knowledge about lab-grown diamonds, but they’re motivated to buy a larger diamond.
How retailers can reach them: This group has been marketed to the least, according to Chatelain.
But they do like to reward themselves, so communications should focus on budget, size, and how the stone is a deserved reward for the lives they have led.
“If retailers could bring that across to them [in ads], saying, ‘OK, it’s time to self-reward,’ that’s how they’re going to go get this group,” Chatelain said. “It’s a great opportunity, especially for independent retailers who really know their market.”
Segment 3.5: “SPF”
Who they are: “Self-purchasing females” of all ages.
Chatelain said they numbered SPF as 3.5 because there is crossover with the other segments.
How retailers can reach them: Chatelain said the consumer who buys for herself feels good about buying larger diamonds, a trend she believes will play out in items like stud earrings.
Based on The MVEye research, the most successful retailers are expanding into lab-grown diamond jewelry basics, like studs and solitaire pendants.
Other Key Research Findings
The MVEye said these consumers aren’t necessarily all about the digital shopping experience.
They’re interested in special experiences in-store, on social media, and on e-commerce sites, and will pay a premium for it.
For jewelry retailers, this means it’s important to track important client life events, like birthdays or anniversaries, so they can have targeted communications on these occasions and point out products clients might be interested in, making it clear they will cater to them.
“Now to the customer, it’s not about price; it’s about premium service,” she said.
And, interestingly, rather than buying products from stores, they buy from brands, The MVEye’s research found.
The idea of loyalty to a store has shifted to mean loyalty to brands within the store or because of the store’s location, Chatelain said, though she did also note their research shows shopper loyalty is greater for fine jewelers than others.
The Latest
The boards of at least five chapters have resigned in response to controversial statements the WJA national board president made last month.
An experienced jewelry writer and curator, Grant led the organization for two years.
Five new designs were added, all donning Tahitian cultured pearls and spear-like trident motifs, along with the new “Titan” setting.
The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
The inaugural event is being co-hosted by the American Gem Society and the Gemological Institute of America.
Jewelers of America’s Annie Doresca and AGTA CEO John W. Ford Sr. are among the new members.
The jeweler’s latest high jewelry collection looks into the Boucheron archives to create a “living encyclopedia of high jewelry.”
A Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
Watch and jewelry sales slipped 3 percent in 2024, though the luxury conglomerate did see business pick up in the fourth quarter.
Olivier Kessler-Gay will take over the role on March 3.
It hit a four-month low in January due to concerns about the job market, though consumers remain bullish about the stock market.
The jewelry designer and master metalsmith will present on the ancient Japanese metalworking technique at the Atlanta Jewelry Show in March.
The “Moments” social media campaign emphasizes the emotional ties between natural diamonds and life’s special milestones.
The versatile “As We Are” collection features 14 pieces with interlocking designs allowing for 27 different looks worn around the body.
Letsile Tebogo will help to promote natural diamonds and the good they have done for his country.
The showcase, in its second year, will feature more than 20 international brands at its curated event from Feb. 2-4.
“My Next Question” guests Sherry Smith and Edahn Golan share their 2025 forecasts, from sales and marketing to what retailers should stock.
The seminar series covers topics from market trends and colored stone terminology to working with museums and growing an Instagram profile.
LeVian is remembered for his leadership in the jewelry industry and for being a selfless and compassionate person.
Monishkumar Kirankumar Doshi Shah pleaded guilty to evading customs on more than $13.5 million of jewelry imported into the U.S.
Jemora Gemhouse’s inaugural auction, slated for March, will take place in Dubai and feature polished sapphires.
Quinn partnered with Gemfields to create “Crazy Love,” which features Zambian emeralds and Mozambican rubies across 10 pieces.
The catalog is 48 pages and features more than 100 styles.
The one-of-a-kind necklace was designed in celebration of the Chinese New Year, as 2025 is the Year of the Snake.
The gemstone show is slated to take place at the Scottish Rite Cathedral.
From raffles to auctions to donations, the industry is working to aid charities in Los Angeles amid the raging wildfires.
The suspects are accused of planning to kidnap a Miami jeweler and rob him of his cryptocurrency.