• News
  • Gemstones
  • Birthstones
  • Jewelry
  • Lucky Gems
  • Health
  • Crypto Gems

These Are The Main Types Of Groups that Buy Lab-grown Diamonds

201Shares
67KViews

Austin, TX - The next generation of people who will buy lab-grown diamonds has been founded by The MVEye, which used to be called MVI Marketing.

"The MVEye's Core 3.5 LGD Consumer Segments," which is based on recent research, lists the main groups that it says are behind the "explosive global growth" of the lab-grown diamond sector.

These are the main types of groups that buy lab-grown diamonds that were found through the research and the ways that the market research firm suggested communicating with each of them.

"In the Know" - Part 1

A group of millenials of multiple races checking their devices while laughing
A group of millenials of multiple races checking their devices while laughing

COPYRIGHT_BER: Published on https://www.bernardine.com/main-types-of-groups-that-buy-lab-grown-diamonds/ by Barbara Mitchell on 2022-09-01T03:13:29.103Z

Who they are: This group is made up of millennials between the ages of 25 and 38 who already know about lab-grown diamonds, either through friends or the media. In this group, there are people of different races and couples who don't follow the rules.

How stores can get in touch with them: Liz Chatelain, co-founder of MVEye, told National Jeweler that retailers should focus on sustainability, social responsibility, and the technology behind the stones.

This would help them understand not only how the stones are made but also how easy it is to track them along the pipeline.

They should also pay attention to what The MVEye calls the "price-to-value equation." This means that they should tell people that lab-grown diamonds give them more for their money.

Chatelain said that people are now willing to spend more than they had planned to get a bigger and better diamond.

"In the Dark" - Part 2

A group of millenials looking through their laptops and checking their phones
A group of millenials looking through their laptops and checking their phones

Who are they: The marketing firm said that this group is made up of millennials between the ages of 25 and 38 who haven't heard of lab-grown diamonds but are easy to persuade to learn more. This group also has people of different races and couples who don't follow the rules.

Chatelain said that this is where retailers have the most power over what customers buy. She said that it was their job to tell these people about lab-grown diamonds, get the word out about them, and teach people about them.

She said that retailers told The MVEye that they offer lab-grown as an option if a customer wants a larger, high-quality diamond that fits their budget. She also said that the number of "assumed mine diamond shoppers" who now buy lab-grown diamonds can be as high as 70%.

How stores can get in touch with them: Focus on education and talking about the technology behind lab-grown diamonds, as well as the price-to-value equation.

"Upgraders" - Part 3

Two millenial women checking and pointing at jewelry
Two millenial women checking and pointing at jewelry

Who they are: They are people over 55 who want to upgrade their engagement rings. Even though they might not know much about lab-grown diamonds yet, they want to buy bigger diamonds.

How to reach them: Chatelain says that this group hasn't been marketed as much as other groups.

But they do like to treat themselves, so communications should focus on budget, size, and how the stone is a reward for the lives they have lived.

Chatelain said that retailers would be able to reach this group if they used ads to tell them,

Okay, it's time to self-reward. It’s a great opportunity, especially for independent retailers who really know their market.

Statistics

Still, the US is a very big market for consumer goods. In 2020, lab diamond sales made up about 3% of all diamond sales. The next year, it went up to 5%, and by the first quarter of 2022, it had reached 7%.

Share: Twitter | Facebook | Linkedin

About The Authors

Barbara Mitchell

Barbara Mitchell - Barbara is recognized by the industry leaders for her passion and objective to make beautiful jewellery accessible, affordable and forever wearable. She designs custom made jewelery made of gold and diamonds for more than 20 years. Her website, bernardine.com has been mentioned in many books such as "The 12 Gemstones of Revelation", "Teens Have Style!", "10-Minute Crystal Healing" and websites such as wikipedia.org, etsy.com, buzzfeed.com, yahoo.net.

Recent Articles

  • Garnet Meaning And Healing Properties - The Stone Of Grounding And Balance

    Gemstones

    Garnet Meaning And Healing Properties - The Stone Of Grounding And Balance

    Garnet, the birthstone of January, is more than just a pretty gemstone. Its rich history and powerful properties have made it a sought-after stone for centuries. The garnet meaning and healing properties are some of the information that people want to know about this stone.

  • Birth Crystals - Represent A Person's Period Of Birth

    Birthstones

    Birth Crystals - Represent A Person's Period Of Birth

    Most people prefer to only consider the one conventional stone that is linked with each month when they think about birth crystals, these stones are often shown next to the appropriate month in gemstone tables. There are, in fact, a few alternate birth crystals for each month.

  • Pisces Birthstone Color - For Those Born In The Month Of March

    Birthstones

    Pisces Birthstone Color - For Those Born In The Month Of March

    Humans have always recognized a deep connection between heaven and earth. It was said that during these early nights, the effect of these stars and planets greatly impacted our planet, Earth. Several myths claim that wearing the right gemstone, such as the Pisces birthstone color, may provide protection.

  • Stone September - Meaning, Benefits, History & Symbolism

    Birthstones

    Stone September - Meaning, Benefits, History & Symbolism

    The sapphire, which has been prized for thousands of years, is the birthstone for September. The word sapphire often refers to the blue variation of corundum, while ruby is the red version, however, this stone September is available in a wide range of different hues.

  • The Top 6 Free NFT Games In 2023

    NFT

    The Top 6 Free NFT Games In 2023

    NFT games are a type of digital game that use blockchain technology to create unique digital assets that can be bought, sold, and traded like physical collectables.

  • Kim Kardashian Buys Famous Princess Diana Amethyst Cross Pendant At Auction

    News

    Kim Kardashian Buys Famous Princess Diana Amethyst Cross Pendant At Auction

    Royalty has just been added to Kim Kardashian's already impressive collection of jewelry. kim kardashian buys famous princess diana amethyst cross pendant. At the annual Royal & Noble auction held by Sotheby's on Wednesday, the 42-year-old SKIMS mogul made a successful bid on the diamond-encrusted amethyst Attallah cross pendant that was most famously worn by Princess Diana.

  • Factors That Affect The Price Of Pukhraj

    Sapphire

    Factors That Affect The Price Of Pukhraj

    Pukhraj or yellow sapphire is a type of corundum that exhibits a distinctive golden colour.

  • Yellow Birthstone - The Month Of Giving Thanks

    Birthstones

    Yellow Birthstone - The Month Of Giving Thanks

    The yellow birthstone for November encourages self-expression and inspires creativity. Additionally, yellow topaz encourages focus and a profound sense of beauty. It also enables the user to reach their full potential by fusing insights gained from experience and expertise.

  • Color Of The Month - What Do They Mean?

    Birthstones

    Color Of The Month - What Do They Mean?

    A birthstone is simply a gemstone that is linked to a person's date of birth. Wearing a birthstone is said to bring luck and good health. Depending on their connection to the planets, several gemstones' color of the month is said to possess supernatural abilities. Many societies used to associate a particular gemstone with births occurring during each sign of the zodiac, but throughout time, this custom was changed to correspond with calendar months.

  • Topaz Birthstone Month - History Meaning, Color And Benefit

  • Garnet Birthstone Month - History Meaning And Benefit

  • India Diamond Traders Hit By Rupee Risks Amid Russia Supply Woes

  • Toughest Gemstones - The Unbreakable Beauty Of Diamond, Sapphire, And Ruby

  • Crystals For July - Harnessing July's Energy With Healing Crystals