In January, INSTORE published the findings of a survey of more than 100 jewellery retailers, gauging sentiment on a range of questions concerning lab-created and natural diamonds.
More than half (51 per cent) of participants weren't worried about lab-created diamonds being a threat to natural stones. A further 25 per cent said the category could ‘possibly’ be a threat, while 18 per cent expressed direct concern.
"Lab-grown diamonds are firmly in the product mix right now, and numerous jewellers have found a way to profit from them,” the report explains.
"But the market hasn’t finished having its say — one jeweller already sees “a two-tier market now: lab for fashion or young buyers.” If that split continues, lab-grown diamonds could land squarely in discount territory, following the lead of former diamond substitutes like cubic zirconia or moissanite, while natural diamonds become the higher-end signal."
Regarding business impact, 44 per cent described lab-created diamonds as being a ‘strong positive’ and another 17 per cent suggested it was a ‘weak positive’. Around one-fifth of responses indicated it was either ‘neutral’ or ‘negative’.
The key issue remains consumer confusion around lab-created and natural diamonds. More than 70 per cent of participants acknowledged that the coexistence of the two categories led to consumer confusion.
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