The times have changed and the people are switching over to things that work for them and not that have been working for the collective culture. Lab Grown Diamonds are now mainstream and they have an identical structural and chemical composition as that of mined diamonds. People have no lack of reasons to switch over the traditional overly prices dug up carbon allotrope anymore.
According to Goldman Sachs Global Investment Research, the median age of people getting married has risen from 23 years in 1970 to 30 years in 2010. Millennials in the US are currently the largest population with a purchasing power of $1.68 trillion. Brands have to understand that the traditional behavior and consumption patterns are gone and that they need to focus on the values of millennials which are different from the traditional or elder generations.
Lab-grown diamonds can be anywhere between 25% to 35% less costly than the mined diamonds. So, what exactly does this mean? A bigger diamond for you! Upgradation to a platinum band! Or you can take your loved one to a little vacation with the saved money.
A million diamond diggers in Africa earn less than a dollar a day, causing widespread poverty and community suffering. There has also been news of rogue tribes selling rough diamonds to fund their rebellion. Though Kimberley Process claims to have solved these issues, there are certainly many loopholes. In this age and day where all lives matter, millennials certainly would not choose to possess something with a dark history.
3. The Mode of Shopping
People are done with pushy salesmen, that can’t seem to be less on the nose when it comes to selling a product. They can find more options online, compare prices and get things shipped directly to their houses in a matter of time. Lab-created diamonds are easily available on online platforms than mined diamonds. Where there is convenience, there are millennials.
“Diamond mining can impact ocean life through increased ship traffic, noise, light, and pollution, and is just one of many activities degrading the marine environment.” Kirsten Thompson from CNN reports. In other words, lab-made diamonds consume a lot less energy than mined diamonds and are thus highly beneficial to the environment.
Lab-created diamonds and gemstones ensure to the buyer that a jeweler is capable of providing full information about a stone from the start to finish. There are only a very few other ways for a jeweler to be completely certain that a stone is truly conflict-free, having the same constituent as mined diamonds, created under fair working conditions, and as environmentally friendly as possible.
LGD Trade – New York, provides a platform for both the buyer and the seller looking for quality Lab Grown Diamonds (LGD) online. A place for all to trade conveniently within secured firewalls.