(PRESS RELEASE) Jean Dousset, a bespoke fine jewelry & engagement ring brand founded by the great-great-grandson of Louis Cartier, released their 2021 Engagement Ring Survey results, revealing consumer insights on lab grown diamond rings, purchasing trends, and preference for larger diamonds in an engagement ring driving consumer appetite for lab grown diamonds.
Jean Dousset, founder and CEO of his namesake brand and a new lab grown diamond collection launched in July 2021 called Oui by Jean Dousset, says “A lab diamond offers the same visual experience with none of the compromise. Our goal is to empower our clients by encouraging them to look into all the different choices that are available today.”
There is a disconnect between consumers’ budgets and desired diamond size in an engagement ring.
65% of consumers surveyed said a 1-3 carat diamond center stone is their ‘ideal carat weight’ for an engagement ring, while 49% said their budget for an engagement ring is under $10,000. 14% of the survey’s participants said their ideal carat weight for a diamond engagement ring is between 3-4 carats. Only 9% reported their ideal carat weight for an engagement ring was less than 1 carat.
The most desirable aspect of lab grown diamonds to consumers is their lower price point compared to natural diamonds.
When asked to identify the most important influencing factor when considering purchasing a lab grown diamond engagement ring, 46% of respondents said a lab grown diamond’s lower price point was the most important factor, with sustainability (28% identified this as the most important factor), and more ethical practices (26% identified this as the most important factor) following closely behind.
Consumers are becoming more aware of lab grown diamonds as an option for their engagement rings.
68% of those surveyed reported being either somewhat or very familiar with lab grown diamonds. 23% of those surveyed reported not being familiar at all with lab grown diamonds
Pointed communication and education from the diamond & jewelry industries will continue to increase the popularity of lab grown diamonds. 36% of those surveyed said they would consider purchasing an engagement ring with a lab grown diamond. Alternatively, 20% reported they didn’t know enough about lab grown diamonds to make a decision.
Methodology:
Jean Dousset’s 2021 Engagement Ring Survey was conducted in June 2021 among 400 adults who live in a variety of locations across the United States. 93% of those surveyed identify as women. All survey respondents were adults who provided their emails to Jean Dousset, with 96% of respondents between ages 18-54.