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More Than Half of Independent Jewelers Now Stocking Lab-Grown Diamonds

That’s up from 10% just four years ago.

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LAB-GROWN DIAMONDS continue to make inroads into independent jewelry stores, with more than half of jewelers, or 52%, now stocking the once-controversial merchandise, according to the 2020 INSTORE Big Survey. That is up from 10 percent just four years ago.

According to the jewelers who stock man-made diamonds, their average ticket size is typically lower than for natural diamonds – 30% of them said it was “smaller” and 28% said it was “much “smaller” – but the margins are better. Altogether, 70% of those selling lab-grown diamonds said they get a better return than from natural diamonds, with more than one in four saying their profit is 25% higher.

Question: If you do sell lab-grown diamonds, how does your average ticket size compare to that of your natural diamond sales? Lab-grown diamond sales are:
Much bigger (25% or higher)
6%
Bigger
10%
Much the same
25%
Smaller
30%
Much smaller (25% or lower)
28%

The typical lab-grown diamond sale is close to one carat with 72% of sales within a range of 1.0 to 1.5 carats.

Question: If you sell lab-grown engagement rings, what roughly is the average size of the center stone?

big survey 2020 center stone size

Just over one in three of the jewelers who took our survey, or 37%, remain holdouts against stocking lab-grown diamonds. But 11% said they were looking into selling them.

Question: Do you sell lab-grown diamonds?

big survey 2020 lab-grown diamonds

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The 2020 INSTORE Big Survey was taken by more than 750 North American jewelry store owners or managers. Look out for the November edition of INSTORE to read the full results. The issue should be shipping now.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

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