Diamond Producers Association Survey: Millennials Still Want Diamonds

Retail and Consumer Confidence
23/12/2015 21:33

As reported by Rob Bates at JCK: Millennial consumers want to give and receive diamond jewelry as much as any other age group, the Diamond Producers Association found in a recent online poll. The post-Thanksgiving Day survey questioned 18-to-64-year-old consumers who are married or in a committed relationship, with a heavy sample of Millennials. The survey found that, contrary to the feelings of many in the industry, younger consumers still consider diamond jewelry “an authentic meaningful gift,” says Sally Morrison, marketing director for the Diamond Producers Association. “They are still very much invested in this category,” she says. “It may be a question of how we’re marketing and how we’re retailing, more than their feelings about the category itself. We have to work harder to connect with them.”

“Everyone we spoke to that had been given a piece of diamond jewelry said it was their best gift ever,” Morrison says. By contrast, consumers who didn’t receive diamond jewelry had trouble remembering their last holiday gift. In addition, 80% of women who received a piece of diamond jewelry kept it and didn’t exchange it for another style or piece. “It’s a post-2008 reality: People don’t want tons of stuff,” Morrison says. “They just want one thing that is really good.”