Events & AwardsOct 29, 2025
October Brings Little Change to Consumer Confidence Consumers are feeling more optimistic about their present situation while the short-term future remains a little scary.
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
Events & AwardsOct 29, 2025
Couture Partners With Time to WatchesThe company, which organizes a watch show in Geneva every spring, will bring a selection of watch brands to the 2026 Couture show in Vegas.
TrendsOct 29, 2025
Beth Bernstein Releases Vintage Jewelry Guide“The Modern Guide to Vintage Jewellery” follows the evolution of jewelry design from the ‘30s to the ‘80s with buying and styling advice.
EditorsOct 29, 2025
Why Creepy, Crawly Bugs Inspire Beautiful JewelryFor her annual Halloween story, Senior Editor Lenore Fedow explores the symbolism behind spiders, beetles, and other eerie insects.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsOct 28, 2025
Meet the 2026 Gem Award NomineesNotable jewelry designers, members of the press, and retailers are up for an award at next year’s gala.
Recorded WebinarsOct 28, 2025
Watch: The State of the Jewelry Industry Leaders from Jewelers of America and National Jeweler discuss the gold price, tariffs, and more in this one-hour webinar.
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond JewelryFrom sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.
CollectionsOct 28, 2025
Eriness Reflects on Life in ‘One of One’ CollectionAfter experiencing motherhood, growth, and loss, founder and designer Erin Sachse has created 10 irreplaceable jewels.
AuctionsOct 27, 2025
Napoleon Left This Brooch Behind, And Now It’s Up For AuctionIt is part of Sotheby’s “Royal & Noble Jewels” sale along with an ornate hair ornament and an old mine-cut light pink diamond ring.
CrimeOct 27, 2025
Arrests Made in Louvre Jewel Heist One of the individuals was apprehended at the airport as he was trying to flee the country.
MajorsOct 27, 2025
Target to Cut 1,800 Corporate JobsThe retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.
Events & AwardsOct 27, 2025
Hill Management Group Hired to Help Atlanta Jewelry ShowHill Management Group will oversee, market, and produce next year’s spring show.
AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives ReplacedLondon-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument DemoThe workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ EarringsFounder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, KeringThe luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch HistoryThe book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & WatchesAlexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds EditionThe superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the HolidaysRetailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva AuctionThe nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New PerchChief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume ChallengeFive dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.
