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Fashion

Millennials and Generation Z Are Increasingly Embracing Lab-Grown Diamonds

Lab-grown diamonds are gaining popularity among millennials and Generation Z, who are concerned about environmental impact and want diamonds that are sourced responsibly. Although mined diamonds are still a popular option for consumers, many millennials are opting for lab-grown diamond because of their higher quality and lower price.

These diamonds are made in labs using advanced technological processes that mimic the conditions that naturally occur when diamonds are formed. They look and feel just like natural diamonds, and are ethically produced. Millennials and Generation Z are the primary demographic embracing lab diamonds, and are the driving force behind this industry.

Several major jewelry companies are making the switch. Pandora, the largest jewelry company in the world, recently announced that it will switch to lab-grown diamonds by 2021 as part of its effort to create more sustainable jewelry. Signet, which owns Kay Jewelers, Jared chains, and Zales, is another company embracing the trend.

Millennials and Generation Z prefer shopping from local independent businesses, so retailers that want to gain a foothold with these consumers need to demonstrate good citizenship. For example, retailers must practice ethical business practices, offer sustainable, high-quality goods, and refrain from being sleazy.

The trend of Gen Z-style diamond buying is likely to continue. They’ll be more price-conscious, which means that they’ll want to buy diamonds in person. Retailers can win Gen Z’s business by focusing on personalization, superior customer service, and maintaining a well-stocked inventory. Retailers also need to ensure that the diamonds they sell come with a grading report.

Although many consumers still prefer natural diamonds, lab-grown diamonds are becoming increasingly popular. In addition to being cheaper and easier to audit, lab-grown diamonds are also more environmentally friendly than their mined counterparts. This new trend has led to tremendous growth in the industry over the past year and is expected to continue to grow in the coming years.

Generation Z

Millennials and Generation Z are driving demand for lab-grown diamonds, a growing trend that is not only environmentally friendly, but also offers more value. This generation is conscious of social and environmental issues, and they seek products that don’t hurt the environment or contribute to human suffering. As a result, they prefer lab-grown diamonds to traditional diamonds.

Many brands are making the transition to sustainable practices. One example is Clean Origin, which was launched in 2017 and has garnered plenty of attention. Its tagline is “Diamonds Without Compromise,” and the company is led by former Signet Jewelers CEO Terry Burman.

Pandora, the largest jewelry company in the world, recently announced that it will only sell lab-grown diamonds from 2021 onwards. This decision was made as part of its ongoing effort to promote sustainable jewelry, and in response to growing consumer interest. Signet, the largest jewelry company in the United States, owns Jared chains and Kay Jewelers.

Compared to natural diamonds, lab-grown diamonds are also far less expensive. A ring with a lab-grown diamond will cost about half the amount of a naturally mined diamond. Furthermore, these diamonds are environmentally friendly, as they don’t have to be mined. This eliminates the heavy cost of mining natural diamonds, which is a significant issue for today’s consumer.

Millennials and Generation Z are more likely to save for jewellery than buy it on credit. The fact that they prefer to spend their money on something they’re passionate about shows that they’re willing to pay a premium for quality. They also value social and environmental impact more than ever. They want to buy eco-friendly products, and a recent survey shows that over eighty per cent of Gen Z are more likely to purchase a product if it has good environmental credentials.

Environmental impact

Lab-grown diamonds are a popular choice for consumers. However, there are some concerns associated with the production process. While diamonds grown in labs do not contribute to the production of carbon, they are not completely sustainable, either. To make a decision on whether or not to buy one, it’s best to research the production process. Then, look for a company that keeps track of the source of the gems it sells.

Even though some mined diamond brands advertise their “green” credentials, diamond mining is a major contributor to global pollution. Just one carat of mined diamonds releases 510 grams of carbon dioxide. By contrast, lab-grown diamonds use half of that amount. In addition, diamond mining depletes countless fossil fuels.

In comparison, producing a polished carat of lab-grown diamond requires just 20 kWh of energy. This is far less than the five hundred and thirty kilowatt hours (kWh) needed to mine a single carat. It also consumes seven times less water than its earth-mined counterpart. In addition, lab-grown diamonds release only 0.028 grams of carbon per carat, compared to 37,000 grams for earth-mined diamonds.

Diamond mining in natural settings has a massive impact on the environment. During the mining process, massive amounts of earth are excavated. In addition, rivers and streams are diverted to accommodate the mining operations. This disrupts natural travel patterns and damages wildlife. These areas also become breeding grounds for mosquitoes.

The environmental impact of lab-grown diamonds is less than one percent of the production process, which is much better than the impact of mined diamonds. Lab-grown diamonds are cheaper than natural diamonds, making them an affordable option for many consumers. Moreover, they can be made in large quantities, which is why many millennials and others are buying these stones instead of natural diamonds.

Style

Millennials and Generation Z are increasingly embracing lab-grown diamonds as an environmentally-friendly alternative to natural diamonds. As environmentalists, millennials and Generation Z are concerned about the impact they have on our world, and they want to support companies that help preserve our planet. Furthermore, they want to buy jewelry that is affordable and stylish.

Millennials and Generation Z have a growing awareness of social injustices and how the diamond industry is hurting communities in Africa. Their increased access to the Internet and social media has helped them become more aware of the impact the mined diamond industry has on the environment. In particular, the 2006 movie “Blood Diamond” by Leonardo DiCaprio depicted the devastation caused by this industry.

Lab-grown diamonds are also becoming a popular choice for engagement rings. Isabelle Crew, a digital designer from New York, recently opted for a lab-grown diamond instead of a mined diamond in her engagement ring. She hopes to inspire the next generation of consumers by using lab-grown diamonds in their engagement rings.

The growing popularity of lab-grown diamonds among millennials is due to the fact that they are considerably cheaper than natural diamonds.

America’s #1 source for unbiased advice on loose diamonds

We’ve been fans of Rare Carat since the website launched back in 2016. It’s a clever little site that sources the best deals on diamonds from across the web – think of it like Skyscanner or Expedia, but for diamonds instead of flights and hotels. Extremely easy to use with extensive results no matter what your search criteria, it should really be your first port of call on your diamond search.

Now this innovative little website has teamed up with another company leading the way in tech innovations – Everledger – to leverage blockchain technology and AI for your benefit. They’ve called it the Rare Carat Report, and it will be invaluable to you if you’re looking for a loose diamond for an engagement ring.

Staying true to form, the report could not be simpler to use. Simply type in the GIA report number of your chosen diamond, click ‘get free report’, and in no time everything you really need to know about that gem will land in your inbox. Don’t have the GIA number? Copy and paste the link to the diamond you’re looking at instead. It’ll take a little longer, but you’ll still get your report within 24 hours. You can also opt to get Rare Carat’s deal rating and a gemologist review (from a real-life, human being gemologist!).

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