Lab-grown diamonds, made for decades as an inexpensive alternative to mined stones for industrial purposes, are cracking the consumer market, largely thanks to millennials’ evolving shopping tastes.
In a recent survey of 1,000 consumers aged between 21 and 40, half of which had household incomes of $50,000 or higher, nearly 70% said they would consider buying a lab-grown diamond for an engagement ring, MVI Marketing revealed earlier this year. That was a 13 percentage-point increase from the year before, when 57% said the same.
The entry of new actors in the synthetic diamond market, particularly giant producer De Beers and its Lightbox brand, has created even greater awareness for lab diamonds and is spurring more consumer activity.
Yet, many claim that despite the increasing popularity of synthetic diamonds, mined ones remain a superior choice.
Pure at Birth has created the following infographic to help you decide: