Engagement Rings with Man-Made Diamonds are the Mainstream of the Season
During the few last years, one has observed a significant transformation in the diamond jewelry market. Several world-famous companies, which were previously highly devoted to natural diamonds, made an unexpected shift towards man-made diamonds. Swarowski, Signet, and Pandora are just a few of many others, which have launched new jewelry lines based on lab-grown diamonds. How could it happen and what was the reasoning behind this business decision?
Management of these companies claims almost unanimously that surging consumers’ demand for man-made diamond jewelry is the core reason, which has inspired them to do so. For example, Pandora explains, “We instituted the changes as a part of the efforts to sell sustainable product and because consumers increasingly were asking for it”
So, the next obvious question that can lead us to a better understanding of man-made diamonds’ mainstream popularity is “Why do people love them?”
The concept of sustainable product
The growing popularity of the diamonds created in the laboratory is preconditioned by high ecological awareness since they are born in a safe way. When saying ‘safe’ we mean that man-made diamonds are created with a minimal effect on the environment if compared to natural diamonds.
Manufacturers do not drill the earth, do not ruin the ecosystem, and do not use so huge volumes of natural resources as miners do. Indeed, studies confirm that mining diamonds consumes 2.14 times the energy than lab-grown gems, uses 6.8 times as much water per carat produced, and produces 4,383 times more waste. The man-made diamond industry also avoids more than half the nitrous oxide emissions and all the sulfur oxide, which are associated with mined diamonds.
Sure, replicating the natural process of growing diamonds in the laboratory setting also requires resources and can have negative aftermaths on the environment. It is needed to create conditions that are identical to those occurring in the crust – the conditions of a high temperature and high pressure.
Yet, besides it is initially comparatively safer than mining, manufacturers are constantly striving for improvements and launching innovative responsible solutions. Madestones, one of the innovation-oriented man-made diamond traders, said “Lab-grown diamond is a unique product marrying science and technology for the sake of sustainability; science is constantly looking for solutions, and technology enables manufacturers to implement these solutions.”
This concept aligns with the values of the new generation
If checking the profile of the economically active population today one can see the so-called Zoomers are currently gaining their purchasing power. What does it mean for the market? All the manufacturers who want to sell any product to Zoomers should consider their generational values. The research showcases that the new generation is ultimately environment-oriented and stays for sustainable solutions more than older generations.
Man-made diamonds, which are also diamonds with properties identical to natural diamonds but safer than their natural prototypes in their origin, are an excellent product aligning with Zoomers’ values.
It is worth saying that this alignment concerns not only the product itself but also the opportunities it provides for young people. We mean here financial freedom. Although many analysts call the pricing for the lab-grown gems merely a matter of saving, we tend to see in affordable price policy an opportunity to wise redistribution of consumers’ budgets. The new generation is not ready to pay big money just for one thing even when it is a worthy item. Buying one sustainable product also does not bring a sense of contribution to environmental issues. Zoomers strive to practice their eco-friendly mindset on a constant basis through investing in different funds and fulfilling green activities.
It may be surprising but the man-made diamond industry provides them with such opportunities. Jewelry with lab-grown diamonds is 50-70 % cheaper than natural diamond analogs. Saved costs could be easily invested by Zoomers in different eco-funds or protective activities.
Besides, many man-made diamond manufacturers or traders are launching multiple green campaigns. Madestones, for example, announces that the revenue from purchased man-made diamonds from them is directed to planting mangrove trees to mitigate climate change. Such a band of sustainable offers enhances a sense of contribution significantly.
One should not ignore also the meaning of sustainability in terms of relationships. Zoomers also declare that they do not want to turn purchasing an engagement ring into a burdensome task for their partner. That is why they prefer man-made diamond engagement rings – more affordable but not less charming than natural diamond products.