The ethical diamond industry grows due to Millennial demand
Trend - Ethically-sourced diamonds are increasingly popular as Millennials begin choosing lab-grown jewels that don't carry the same moral baggage as mined diamonds. This shift comes with companies looking to better align with the values of their consumers--as ethical shopping becomes top-of-mind for many.
Insight - Aside from having lower rates of marriage than preceding generations, a crucial reason for Millennials' impact on the global diamond industry rests in their preference for conscientious purchase habits. Traditionally, the diamond industry has been associated with conflict and exploitation, and ethical alternatives have been few and far between. Thus, Millennials are seeking out brands with production processes that are more aligned with their personal values and ethics--particularly when looking to purchase investment pieces.
Insight - Aside from having lower rates of marriage than preceding generations, a crucial reason for Millennials' impact on the global diamond industry rests in their preference for conscientious purchase habits. Traditionally, the diamond industry has been associated with conflict and exploitation, and ethical alternatives have been few and far between. Thus, Millennials are seeking out brands with production processes that are more aligned with their personal values and ethics--particularly when looking to purchase investment pieces.
Workshop Question - How could your brand better align itself with the values of its customers?
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Date Range:
Jun 19 — Jun 19
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