Why Do Millennials Buy More Diamonds? Part 1

Her exceptional knowledge and love for diamonds makes Lisa Levinson as rare as the diamonds she works with. I met Lisa during a talk she gave at the GIA’s London campus. Ever since then, I have followed her on social media and continued to learn about the diamond industry through the stories and facts she shares. The palette goes from the impact of laboratory-grown diamonds on the market to the social and economic effects of the industry on different communities.

Lisa Levinson is currently the UK Head of Marketing and communications for the Natural Diamond Council (NDC). Her career began in South Africa where she learned about rough diamonds before joining the De Beers Group. She is well-known to be the woman, who launched the diamond jewellery brand Forevermark in the UK.

F: In your experience, how are diamonds fairing amongst the millennials?

L: Diamonds have a great appeal to millennials and there are numerous aspects of that attraction. Many people want have something that will last forever, has an important connection to nature and is produced in a way that is ethical and environmentally responsible. Diamonds can tick all these boxes. Modern diamond mining contributes to the economic growth of mining communities and has provided the means for more conservation projects in diamond producing regions. It really is a well governed industry with rigorous regulations.

Diamonds are timeless, authentic products of nature, and their preciousness and rarity making their purchase meaningful. It is up to us to communicate the power, the beauty of these stones and be transparent when it comes to the impact of diamond mining. I believe millennials would choose a natural diamond over anything else as diamonds build communities. It is also cultural to desire diamonds and understand their value.

Having been formed 1-3 billion years ago, diamonds taps into our desire for objects that symbolise all things eternal. Inclusions within diamonds reveal secrets from our earth’s past. Scientists study theses inclusions to gain insights into our planet’s history. Diamonds hold the unique ability to connect us to both our past and our future. A diamond bought today will endure the test of time from generation to generation. They do create a legacy.

We are, by nature, hardwired to love diamonds. When looked at, they remind us of water in a sense – like an oasis in the Sahara. They exude life and a story of survival, immediately commanding our attention and respect. Even children love the glitter of a diamond. Given their rarity and beauty, owning a diamond can make anyone feel

incredibly special. It’s no surprise that 99% of people buy diamonds to commemorate special occasions.

F: What is the reason behind millennial’s soaring appetite for diamonds?

L: We have a yearning for beauty and meaning, we want to feel connected with our friends and loved ones and nature. Recently, I came across an amazing, yet still small trend, that young men are purchasing diamonds for themselves. In fact, both male and female buyers self-purchasing is growing. There is a culture shift surrounding by who and for what occasions diamonds are purchased for. There is also an interesting shift in views towards feminine and masculine jewellery. These changes bring a more inclusive vision; they complement the traditional convention that diamonds are predominantly purchased by a man for a woman.

Written by www.frankassparklers.com 

Bespoke diamonds and jewellery Paris-London-Milan 


All rights reserved 2020. 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.