RAPAPORT. Consumers require authenticity and transparency these days, especially when buying something as meaningful and precious as natural diamonds. However, the sector remains tarnished by a reputation for dubious ethical practices, despite the fact that it is regulated.
The conflict.
Richa Singh, Managing Director, India, Natural Diamond Council, explains how digital channels can be leveraged to create brand recall and desirability for natural diamond jewellery this year
January 19, 2021
Milllenials and Generation Z
consumers still have a taste for diamond jewelry, says a new survey from the Natural Diamond Council.
The online survey, conducted by 360 Market Reach, polled 5,000 respondents during October 2020.
The poll found:
– Given an unlimited amount of money to spend, younger consumers said they would choose to purchase or receive diamond jewelry second only to vacations which represents a particular opportunity now that people are not taking vacations.
Among the most cited reasons for wanting natural diamonds: they are “one of a kind” (cited by 70%) and are symbols of love and connection.
– Some 37% of respondents said they plan to buy fine jewelry in the next 12 months and 27% expect to receive it. About 20% of these people say they will either definitely or probably purchase natural diamond jewelry in the next year, and 12% plan to give it as a gift.
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