THE FUTURE OF DIAMONDS - Embracing the new age emotions

THE FUTURE OF DIAMONDS - Embracing the new age emotions

#diamonddiversity #diamondsforall #newvalues #millennialmindset #consciousconsmerism #perfectlyimperfect #inclusions #uniqueflaws #beautymarks #slicediamonds

THE FUTURE OF DIAMONDS - Embracing the new age emotions

#diamonddiversity #diamondsforall #newvalues #millennialmindset #consciousconsmerism #perfectlyimperfect #inclusions #uniqueflaws #beautymarks #slicediamonds

The Diamond Sector is facing a deep crisis due to sweeping changes in society and new values. From expectations of a growing scarcity of natural resources in the future; the rising popularity of laboratory-grown diamonds; and a heightened appreciation by consumers of coloured diamonds, as well as a greater acceptance of inclusions.

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Image source: Alrosa Luminous Diamonds

The traditional sector is unable to communicate with “modern consumers” who encompass the new values of Millennials and “Generation Z”. Cultural Diversity, experiential luxury, storytelling, and digital culture seem very far from the traditional ways of trading and selling diamonds.
The new age emotions need to be embraced through diamonds as they represent sentiments that sync with modern values. Beyond the material value, diamonds represent diversity.
We live in a borderless world, all connected through digital platforms celebrating cultural diversity, colour diversity, body diversity, language diversity and the list is endless. The diamond industry is Investing in Cultural Diversity and Intercultural Dialogue by embracing all kinds of colours, cuts, even clarity and carats.

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Image source: Lark&Berry

From the Fluorescent Diamond to brown and even black diamonds, the choice of diamond expresses your very unique personality. What kind of woman/man you are, what your preferences are and overall how you view yourself and how you wish to express yourself through your jewellery.
Society becomes more inclusive, embracing people of all types, supporting and making the world a better place. Consumers move beyond the 4Cs to see distinct features. Few diamonds are perfect; most have inclusions or flaws. These flaws often lend a diamond its distinctive beauty. Society is growing an appreciation for the organic shape, and inclusions act as nature’s fingerprint and give each diamond its unique character.

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Image source: Point no Point Studio
Sustainability plays a major role in how diamonds are perceived. Consumers are conscious of gratification of today versus the future of the planet. Society is embracing all mediums, to expand the modern definition of creativity and bring awareness of its values. In 2021, consumers will tap into the ways in which luxury and social issues intertwine, becoming a catalyst to conversations. Sustainability touches every part of a company, from its supply chain operations, to its talent practices, to the physical workspace itself. In 2020 and in the years beyond, this shift to sustainable business will take shape in several major, transformational ways.

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Image source: 1. Yeprem 2. Anabela Chan

In every new product launch there are identifiable, pivotal events that lead to their success, and 2018 was a landmark year for lab-grown diamonds. As the year progressed, lab-grown diamonds continued their unmistakable upward trajectory demonstrated by increased acceptance among diamond dealers, jewellery manufacturers, retailers and most importantly, consumers. The future consumer values will focus on design, storytelling, technology and digital culture. Ethics will also play a bigger role in consumer psychology.

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Image source: Rio Tinto

The global diamond market is already moving in this direction, with digital culture raising the knowledge of consumers about diamonds. The internet allows consumers not only to shop for the design and story that most inspire them, but also to make secure and rapid diamond jewellery purchases.

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