Latest MVI Luxury Consumer Research: Awareness of Lab-Created Diamonds Grows Right Before Our Eyes

LOS ANGELES–(BUSINESS WIRE)–The term lab-created diamonds is already recognized by over 40% of
millennial jewelry consumers based on a consumer research study
conducted by MVI Marketing (MVI).

“The results were surprisingly high considering that lab-created
diamonds have just started to receive advertising dollars and media
attention within the past few years,” stated Liz Chatelain, President of
MVI. She added, “the term blood diamonds is at about the same
level of recognition as after the movie Blood Diamond was
released in 2006 – 63% recognition.”

After reading a brief explanation about lab-created diamonds – the study
results showed that 13% responded: I hope the diamonds I have now are
not lab-created and I don’t know it.

As for future purchases, 56% of the respondents would like to know more,
44% would like to see them in person and 34% would purchase them if the
price was lower than mined diamonds.

When asked if they were shopping for an engagement ring, would they
consider lab-created diamonds, 55% answered Yes, with 21% Not
Sure and 24% No. When asked about if these man-made stones
should be referred to as “diamonds”, 65% answered Yes, because
they are made with carbon just like natural diamonds.

Assumptions about retail pricing were in-line with what many in the
jewelry industry believe. Almost 50% think lab-created diamonds should
sell for 21-30% less then mined diamonds.

MVI conducted this research with 650 USA millennial-aged
consumers with household incomes of $75,000 and higher, who have
purchased fine jewelry within the past 2 years at one of the USA’s top
20 jewelry retail outlets or a local independent fine jewelry retailer.
The study deployment dates were May 2 – 4, 2016.

The full report is available at MVIMarketing.com

Contacts

MVI Marketing Ltd.
Sallie Hoge
sallie@mvimarketing.com