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Valentine's Day Lab-Grown Diamond Study
In a recent digital survey with 500 participants aged 25-34, we learned about some of the most sought-after Valentine's Day gifts, along with opinions on marriage proposals on February 14th. Contributors also shared their thoughts on purchasing a lab-grown diamond over a mined diamond and certain times when they believe it would be appropriate to gift these ethically sourced stones.
Valentine's Day: Most-Wanted Gifts
Survey Question: Which do you consider the best Valentine's Day gift?
The results of this question might surprise you a bit. Historically, chocolate, roses, and jewelry were all standard Valentine's Day gifts and the go-to for a significant other who forgot what day it was. However, this survey shows that putting a bit more thought into your gift and finding something that has special meaning in your relationship is actually much more desirable.
But, to put things into perspective, the average amount spent on Valentine's Day in 2018 was just over $140/person. This was about a $7 increase from the year before. And, although jewelry and diamonds were the least desired in our results, Americans still spent $4.7 billion on them last year, followed by an evening out and flowers. [Source]
The takeaway? It looks like just a card, just won't do.
Popping The Question on February 14th
Survey Question: Would you consider Valentine's Day an appropriate day for a marriage proposal for you and your partner?
So, how much of those jewelry sales could be engagement rings? According to our study, the majority of participants actually would not want to get engaged on February 14th. In fact, the most popular month, by far, to get engaged is December, with the most popular day being Christmas. Of all 12 months, February actually only receives 8% of proposals — only half of those that happen during the month of December. [Source]
So, is Valentine's Day just a bit too predictable? Or does the holiday season just spark a certain amount of joy in a couple in love. According to Martha Stewart, there are a hanful of pros and cons to Valentine's Day proposals.
The takeaway? Weigh your options. A proposal on February 15th would be much more unexpected.
Considering Lab-Grown
Survey Question: Would you consider a man-made diamond over a mined diamond for a marriage proposal?
You might be shocked to find that overall, diamond sales are decreasing. However, it's no surprise that lab-grown diamond sales are on the up and up. In fact, by next year, the market share of lab-grown diamonds is expected to grow by 4%. [Source}
So why the sudden interest in this mined diamond alternative? As more and more individuals, especially millennials, are exposed to the negative effects of mined diamonds, they're starting to look elsewhere for a visual representation of their love. Due to the ethical, eco-friendly benefits of man-made, consumers can feel good about their purchase and know they're doing their part to help our earth. Not to mention, they can save 20-30% or purchase a diamond that much bigger.
The takeaway? Lab-created diamonds are the future. Do your research before making a purchase as large as an engagement ring.
Lab-Grown Throughout The Year
Survey Question: Would you consider a man made diamond over a mined diamond for anniversary, birthday or holiday gift?
Engagement rings aren't the only way to be a part of the growing popularity of lab-grown diamonds. These stones can be used in everything from stud or hoop earrings to tennis bracelets. All of which would work as incredible anniversary, birthday or holiday gifts.
But couple the growing interest in lab-grown diamonds with celebrities such as Meghan Markle, Jenna Fisher and Camila Mendes rocking these stunning stones and the result of this question makes perfect sense. From The People's Choice Awards to charity outings, the public is getting a first-hand look at how celebrities are styling their ethically-sourced jewelry.
And, with 45% of US adults believing that celebrities can make a difference to issues they're promoting, it will be no surprise if more and more consumers start to educate themselves on the benefits of lab-grown diamonds.
The takeaway? Lab-grown diamonds might just be the future of the jewelry industry.