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