Give someone a diamond and they have diamonds. Give someone a machine that makes diamonds and they have diamonds for the rest of their life.
There is an old Jewish Parable A story about an island where diamonds are so plentiful they are worthless. The reality is getting a little closer to this imaginary island. The rise of diamond-growing laboratories has made these precious stones increasingly affordable, with consumers now able to buy the machines to grow their own diamonds for roughly the same price as a luxury sports car.
Chinese e-commerce marketplace Alibaba We sell synthetic products Diamond Manufacturing Machine Pay consumers $200,000 Ars Technical The move is part of a broader trend of increasing popularity of lab-grown diamonds, which, unfortunately, is a major drag on the industry that relies on lab-grown diamonds. Illusion It becomes scarce and more accessible.
the Revenue Call on Thursday (September 12th) Signet Jewelers,Some popular jewelry retail banner owners, e.g. K Jewelers, Zareth and Jaredannounced that laboratory-grown diamonds will make up a larger percentage of overall diamond sales. In the second quarter of fiscal 2025, fashion jewelry sales of laboratory-grown diamonds increased by more than 25%, driving up the average transaction value. Prices for these stones are on a downward trend.
“Lab-made…jewelry has been widely available since 2019,” the CEO of Signet Jewelers said. Virginia Drosos “The decline in the price of lab diamonds has been a consistent story over this period of time. I don’t think consumers have the expectation that lab diamonds will necessarily maintain their value over time in the way that natural diamonds have traditionally done. So, over time, I think we’re seeing consumers become more educated about the differences.”
In addition, jewelers Pandora I’ve seen it Young consumers More and more people are purchasing these synthetic stones.
Demand for lab-grown diamonds, which tend to be more affordable, is growing at a time when shoppers are feeling budget pressures.Consumers’ perception of inflation drives many to lower pricesThe latest edition of PYMNTS Intelligence’s “New Reality Check: Paycheck to Paycheck Report” series showed how consumers’ purchasing power has declined, with most consumers saying their incomes are not keeping up with inflation.
These pressures are encouraging consumers to save and trade up, the survey found. 97% of people who live payday to payday and have bill problems, compared with 92% of people who don’t have bill problems and live payday to payday. problem 73% of people who are struggling to pay bills and run out of money before payday say they have changed their retail purchasing behavior to cope with rising prices.With this backdrop, it’s no surprise that demand for lower priced diamonds is on the rise.
Overall, diamond sales are becoming more similar to mass-market retail: Purchasing these gemstones is becoming simpler and quicker, for example.
“we actually What did you do? Amazon Their Fulfilled by Amazon “We used the (FBA) program to place some of our inventory closer to our European customers.” James MorganChief Product Officer of a B2B Jewelry Marketplace Nivoda“So, There are several can actually Where do we source them? delivery It will only take a day or two.”