(AUSTIN, Tex.) - Millennial age consumers continue to show growing interest in lab grown diamonds, according to an April 2018 consumer research study conducted by MVI Marketing (MVI). Nearly 70% of respondents in the study said they would consider a lab grown diamond for an engagement ring center stone, a 13% increase from a previous research study on lab grown diamonds conducted by MVI in 2017.
Liz Chatelain, President of MVI stated: “In this study, we asked younger male and female consumers in the USA about their awareness of and interest in lab grown diamonds. Millennials are clearly showing a strong level of interest and the progression since our 2017 study has been significant.”
Key highlights from the study include:
- Over 74% of respondents either agree or strongly agree with the statement: “I would consider a lab grown diamond because I can get a bigger diamond for the same price as a smaller mined diamond.”
- Over 76% of respondents either agree or strongly agree with the statement: “I would consider lab grown diamonds because I would like to save money on an engagement ring.”
- Just under 54% of respondents would like to know more about lab grown diamonds, with over 30% saying they would like to see them with their own eyes.
MVI’s Millennial Consumer Research Study on Lab Grown Diamonds is the third study designed to capture a benchmark understanding of the products and brands achieving penetration with this emerging consumer segment that will drive purchasing power for the next 30 years.
MVI conducted this research online from April 27 - 30, 2018 with 1,010 male and female respondents, 21-40 years of age.