Well, the word has already been out- there is a new diamond which is 40% cheaper than original diamonds. What’s more, they are just as stunningly beautiful as the mined diamonds. With the advent of modern technological platforms, creating diamonds in a lab has become common.
The growing acceptance of synthetic diamonds by millennials is a new disruption in the ornament industry. The fake diamond rings that look real are accounting for a significant stake in the ornament market. In the coming years, they could take a 15% market share. So let’s find out the main reasons behind their surging popularity.
Changing the Perception of Buyers
To be precise, diamonds created in labs have long garnered immense popularity among buyers. But in earlier times, artificial diamonds were always viewed negatively. This is because of the presence of false marketing campaigns.
In simpler words, mining companies wanted to persuade customers that owning a real diamond is the new trend. But nowadays, there has been a paradigm shift of buyers from real diamonds to synthetic ones. With the growing popularity of lab-grown diamonds, consumers are learning the differences between real and synthetic diamonds.
Depletion of Diamonds
The global supply of diamonds has decreased considerably in the last few years. Hence, it is imperative to opt for artificial diamonds that can help preserve the nature’s resources of planet Earth. With an increasing emphasis on sustainability, artificial diamonds are gaining immense popularity. What’s more, it requires more energy resources to extract diamonds from Earth than to create them in the lab.
The conscious attitude among buyers is another reason behind the popularity of synthetic diamonds. People are more aware of the advantages of opting for lab-grown diamond rings and ornaments. The millennial generation cares deeply about the environment and the global community.