WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
SurveysSep 14, 2018
Millennials, Gen Z Account for Two-Thirds of Diamond Jewelry Sales
According to De Beers Group’s latest Diamond Insight Report, diamond jewelry sales reached a record $82 billion high in 2017.
In its latest Diamond Insight Report, De Beers Group noted that millennial and Gen Z customers expect a seamless omnichannel shopping experience from retailers. (Image courtesy of De Beers Group)
Hong Kong—Diamond jewelry sales last year reached a record $82 billion high in 2017, with much of the purchasing coming from young consumers, according to De Beers Group’s latest Diamond Insight Report.
According to the diamond miner’s study, the millennial and Gen Z generations made up two-thirds of that demand in 2017. And while the former makes up the largest group of diamond consumers now, Gen Z will be an even bigger customer base.
Millennials are currently aged 21 to 39 and make up 29 percent of the global population. Last year they represented 60 percent of diamond jewelry demand in the United States and close to 80 percent in China.
The Gen Z demographic is currently aged up to 20 and represents 35 percent of the world’s population. Despite the generation’s youth, 18- to 20-year-olds already accounted for 5 percent of diamond jewelry sales last year.
De Beers noted that both generations share values like holding love in high regard, growing up with the Internet, being interested in social issues and prioritizing authenticity and self-expression.
They differ however, in matters of trust. Millennials are a less trusting consumer, while Gen Z is more individualistic and optimistic, interested in building their own personal brands.
To better understand these two groups, the report broke down three ways the diamond industry can reach these demographics, keeping in mind how the generations overlap and differ in the aforementioned values.
First, diamond sellers should evolve how they talk about love to these consumers.
Romantic love is still the main driver of diamond jewelry sales, and millennials and Gen Z still want to follow tradition, but they want to do so on their own terms. Bridal sales account for 27 percent of diamond jewelry demand, but diamond gifts unrelated to marriage are still significant, representing 12 percent of the market.
Retailers should focus on more customizable offerings that represent the broad spectrum of love and commitment, rather than just diamond engagement rings.
Second, perhaps unsurprisingly, diamond sellers and retailers need to bring their selling experience onto multiple platforms, reaching these generations on their favored channels: Instagram and Snapchat. Facebook, Twitter and Pinterest are still important, but will reach an older consumer, not Gen Z.
These consumers want an omnichannel experience that’s completely seamless.
Sixty percent of Gen Z and millennial women in the United States aged 18 to 39 research diamond
jewelry designs, quality, pricing and brands before they shop. Younger millennials and Gen Z also turn to social media for inspiration.
In China, 98 percent Gen Z and Millennials aged 19 to 29 do research through at least one social media channel prior to purchasing.
Lastly, companies need to appeal to these consumers’ social conscious, and it can’t just be all talk.
De Beers said that Gen Z, in particular, won’t buy in to corporate storytelling. They want to see proof of ethical sourcing or the good that diamonds are doing for communities from which they came.
“Diamond jewelry demand reached a record global high in 2017; however, with the younger consumers’ desire for qualities that diamonds can perfectly embody—including love, connections, authenticity, uniqueness and positive social impact—the most exciting times for the diamond industry are still ahead of us if we can seize the opportunities,” De Beers Group CEO Bruce Cleaver said.
“The younger generations present wide-ranging opportunities for the diamond industry with the significant size and purchasing power of today’s Millennials and tomorrow’s Gen Z consumers. While both of these generations desire diamonds just as much as the generations that have come before them, there are undoubtedly new dynamics at play: those diamonds may now be in different product designs, used to symbolize new expressions of love and researched and purchased in different ways to mark different moments in life.”
In China, 98 percent Gen Z and Millennials aged 19 to 29 do research through at least one social media channel prior to purchasing.
Lastly, companies need to appeal to these consumers’ social conscious, and it can’t just be all talk.
De Beers said that Gen Z, in particular, won’t buy in to corporate storytelling. They want to see proof of ethical sourcing or the good that diamonds are doing for communities from which they came.
“Diamond jewelry demand reached a record global high in 2017; however, with the younger consumers’ desire for qualities that diamonds can perfectly embody—including love, connections, authenticity, uniqueness and positive social impact—the most exciting times for the diamond industry are still ahead of us if we can seize the opportunities,” De Beers Group CEO Bruce Cleaver said.
“The younger generations present wide-ranging opportunities for the diamond industry with the significant size and purchasing power of today’s Millennials and tomorrow’s Gen Z consumers. While both of these generations desire diamonds just as much as the generations that have come before them, there are undoubtedly new dynamics at play: those diamonds may now be in different product designs, used to symbolize new expressions of love and researched and purchased in different ways to mark different moments in life.”
More on Surveys
The Latest
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
