Tell Us More

Share a bit more information with us
to finalize your Free Quote request.

You are looking for information regarding:

2 to 10+ carat
Round Diamond
Country
United States Afghanistan Aland Islands Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia, Plurinational State of Bonaire, Sint Eustatius and Saba Bosnia and Herzegovina Botswana Bouvet Island Brazil British Indian Ocean Territory Brunei Darussalam Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Chinese Taipei Christmas Island Cocos (Keeling) Islands Colombia Comoros Congo Congo, the Democratic Republic of the Cook Islands Costa Rica Cote d'Ivoire Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands (Malvinas) Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Holy See (Vatican City State) Honduras Hong Kong Hungary Iceland India Indonesia Iran Iran, Islamic Republic of Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Korea Korea, Democratic People's Republic of Korea, Republic of Korea (South) Kuwait Kyrgyzstan Lao People's Democratic Republic Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macedonia, the former Yugoslav Republic of Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Moldova, Republic of Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island Northern Mariana Islands Norway Oman Pakistan Palestinian Territory, Occupied Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Republic of China Reunion Romania Russian Federation Rwanda Saint Barthélemy Saint Helena, Ascension and Tristan da Cunha Saint Kitts and Nevis Saint Lucia Saint Martin (French part) Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Sint Maarten (Dutch part) Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syrian Arab Republic Taiwan Tajikistan Tanzania, United Republic of Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States Minor Outlying Islands Uruguay Uzbekistan Vanuatu Venezuela, Bolivarian Republic of Vietnam Virgin Islands, British Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe

The suggestion that millennials are buying less diamond jewelry is wrong, according to De Beers Chief Financial Officer Nimesh Patel. The millennial group is even spending a much higher portion of their hard earned money on diamond jewelry compared to the previous generations.

Back in 2016, the idea that millennials were buying fewer diamonds was raised as The Economist magazine asked the question “Why aren’t millennials buying diamonds?”. In the article, it was described that millennials are a generation that is unable to get on the property ladder and are forced to rent into their 30s. Linking this to the reason why they are not buying precious stones such as diamonds.

In an interview with Business Insider, Patel explains why the idea of younger people not buying diamonds is so untrue as the demand among this group (age 18 to 35) is similar if not higher than the previous generation.

Looking at the facts:

Multiple diamond rings

Nowadays the diamond jewelry purchases is not only focused on engagement rings, as diamonds are now also worn as a fashion accessory. Patel continues by sharing that millennials are more inclined towards the “self-purchase” of diamonds to celebrate their achievements and their successes. Resulting in the conclusion that millennials are not buying less diamond jewelry than people think, they only buy it more often for themselves.

Self-Purchasing Diamond Jewelry

This self-purchasing situation has become more popular in the market and accounts for 26% of today’s purchases. Companies are now even targeting their marketing on the self-purchasing group. Showing that diamond jewelry is not only for engagements but also for celebrating achievements, family, self-love or style expression.

Are you a millennial that buys diamonds for yourself or for others? Both can be emotionally significant purchases, but for slightly different reasons.

Related Articles

The 5 diamond tiaras Meghan Markle Might Wear
Diamond Jewelry Trends

The 5 diamond tiaras Meghan Markle Might Wear

Recap of the best diamond jewelry at Met Gala 2018
Diamond Jewelry Trends

Recap of the best diamond jewelry at Met Gala 2018

New record for 3.5 carat blue diamond
Diamond Jewelry Trends

New record for 3.5 carat blue diamond