New Zealand media Newshub released an interesting report the day before yesterday (February 25), telling the feedback from local jewellers that New Zealand consumers are increasingly interested in cultivating diamonds.
Judging from the content of the article, the cost performance is still a growing interest of consumers in cultivating diamonds.
Judging from the content of the article, cost performance is still the primary factor when consumers consider buying cultivated diamonds. Spend as much money (or less). Buy bigger diamonds, which is the reason we are very familiar with.
"Customise a 2-carat diamond ring. If you use natural diamonds, the price is NZ$24000-26000, and the price of the finished product of cultivating diamonds is about NZ$8,000."
Many designers (or local brands) who choose to cultivate diamonds do not give up natural diamonds, but operate two types of products at the same time. This is also the significance of cultivating diamonds (one of them) - allowing consumers to make free choices without being construed to a single marketing and product type as before.
Dr-, when other media interpret this information, they inevitably talk about two issues, one is how much impact the cultivation of diamonds has on the natural diamond market, and the other is the reality of the continuous price reduction of diamonds.
For example, when Jeweller Magazine loaded this news, it emphasised Paul Zimnisky's previous views and expressed two interesting ideas:
1) In the past, you may be the only person in your circle who has a 3-carat diamond ring, but now many people have a 3-carat, 4-carat or even 5-carat diamond ring. What do you think?
2) People just want to buy, so the cultivation of diamonds is becoming more and more mainstream. At the same time, it is true that some people are willing to buy a smaller natural diamond, which is also happening.
In addition, in "neighbour" Australia, relevant institutions previously made a report on the country's jewellery industry (2024 edition), and one of the sectors interviewed 200 jewellery retailers on the question of whether cultivating diamonds is becoming an important part of my business in the past decade.
According to the results of the survey, nearly 40% of the respondents said "agree" or "strongly agree", and nearly 42% said "disagree" or "strongly disagree" (screenshot below)
Https://www.yumpu.com/en/document/read/68568268/2024-state-of-the-industry-report/78
It can be seen that in Australia, the popularity of cultivating diamonds at the retail level is almost "five or five". Although New Zealand does not have such data, the situation may be similar.
In an uncertain future, how will cultivating diamonds change the concept of diamonds of local consumers (especially young people)? Can natural diamonds keep their "value proposition"? How will retailers develop their attitude towards the two types of products? All of these are worthy of continuous observation.
Please refer carefully to the above content.
Source: Diamond Observation