35. Do you sell lab-grown diamonds?
36. Do you believe the best lab-grown diamond is technically as good as the best mined diamond?
37. Do you believe a lab-grown diamond is symbolically as good as a mined diamond?
Note: Interestingly, jewelers’ views of the technical attributes of lab-grown diamonds haven’t changed much over the last 5 years. When we last asked this question in 2016, 52% of jewelers thought they were technically as good, a result that is little changed this year. However, in terms of the symbolic value, almost twice as many jewelers now believe that a lab-grown is symbolically as good as a mined diamond, with 31% of jewelers holding that view this year versus only 17% in 2016.
38. If you promote lab-grown diamonds in your marketing, what’s the crux of your message?
| More stone for same price |
| 24% |
| It’s a more brilliant, clearer stone for the same or lower price |
| 5% |
| It’s environmentally friendly |
| 6% |
| It’s the way of the future |
| 2% |
| Other (please specify) |
| 6% |
| NA |
| 56% |
Note: A significant portion of the jewelers who carry lab-grown diamonds don’t actively promote them. Also, several of those who tout lab-grown diamonds as a “larger stone for same price” made a point of telling their customers that while LGDs were cheaper per carat, their re-sale value was also weaker.
39. What is the most challenging or overlooked aspect about stocking lab-grown diamonds?
The overwhelming answer from respondents related to the declining value and pricing for lab-grown diamonds. Many said they will only carry them on memo as a result, because they don’t want to invest in a product whose value is dropping. They’re also concerned about customers becoming angry in the future over their own lab-grown diamonds declining in value.
Other top answers were:
- Clients don’t understand the difference between lab-grown and mined diamonds (and it’s difficult to train staff to explain it).
- Keeping them from being mixed with mined diamond inventory.
- Some are coming into the market uncertified, which will require retailers to invest in testing technology.
- They may not truly be more environmentally friendly than mined diamonds.
- Supply chain issues (they’re not consistently available).
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