As consumers become more choice-conscious, they have also become more open to a new idea about diamonds: Lab Grown Diamonds, or LGDs.
In recent years, consumers have mostly stopped viewing LGDs as synthetic and artificial or ‘fake’ diamonds. They began to see them as real diamonds, and beautiful too. The big difference is how they are made or their uniqueness: natural diamonds are ‘grown’ deep in the earth over millions (or billions!) of years, while LGDs are ‘grown’ in the lab over several weeks or months. The natural diamonds are unique, there is no identical diamond that comes from mother nature, while LGDs can be created as identical twins.
But what exactly is driving this interest in LGDs, particularly among the younger Gen Z consumer segment? Let’s explore the top 3 factors:
Same Sparkle as Natural Diamonds
One of the key reasons consumers are warming up to LGDs is the fact that they are identical to natural diamonds. Lab-grown diamonds are physically, optically, and chemically the same as natural ones. Even jewelers cannot tell the difference between LGDs and natural diamonds without the help of sophisticated detection devices.
That’s because recent advancements in diamond synthesis technology have allowed scientists to recreate the conditions necessary for diamond growth, resulting in stones that are virtually impossible to differentiate from mined diamonds. LGDs have the same sparkle and appeal as natural diamonds, and the same approach to 4Cs and light performance grading applies to LGDs too.
Suitable For Every Budget
Remember the trope that a diamond engagement ring should cost three months’ salary? That’s becoming an outdated notion, thanks to lab-grown diamonds.
Another difference (and major advantage) of LGDs is, of course, the price. Lab-grown diamonds are around 80% cheaper than natural diamonds, putting many people who could not otherwise afford a diamond back in the buyer’s market for LGDs.
Traditionally, the diamond industry has been associated with expensive price tags, but LGDs have disrupted this narrative. Offering a more cost-effective alternative, LGDs allow consumers to indulge in the luxury of diamonds without breaking the bank.
Perceived by the consumer as more ethical
Beyond the cost of diamonds, the ethical considerations surrounding diamond mining have prompted many consumers to seek alternatives. The environmental impact, labor practices, and the sometimes controversial origins of mined diamonds have led to a growing consciousness among buyers.
For modern consumers, and especially the socially and environmentally aware Millennials and Gen Zs, LGDs offer fewer concerns about the ethical implications of traditional diamond mining.
While those well-versed in LGDs acknowledge their environmental implications, such as the release of gases during the production process, it's crucial to highlight that significant "grey areas" persist in the understanding of LGD's sustainability issues. Many consumers remain unaware of these factors, and LGDs are often perceived as the ideal environmentally and ethically sound alternative, adding an additional layer of value and meaning to their purchase. Nonetheless, it is important to recognize that there are still misconceptions surrounding the sustainability of LGDs.
Renowned globally for our cutting-edge technology for natural rough and polished diamonds, we are now expanding our services to lab-grown diamonds through GCAL by Sarine, who is also opening a new diamond grading lab in Surat, India. Our mission is rooted in a love for all diamonds, bringing together the best in gemology and AI-based technology to independently grade lab-grown diamonds with the same transparency and integrity as natural diamonds.
As we enter the lab-grown diamond market, we are committed to revolutionizing it. This involves providing consumers with the confidence they deserve backed by a 100% Consumer Guaranteed Certificate, streamlining processes, and supporting retailers in thriving and differentiating their brands in this rapidly growing market.
Driven by consumer demands for ethical, cost-effective, and indistinguishable alternatives to natural diamonds, lab-grown diamonds (LGDs) are not merely a substitute; in fact, many consumers already perceive them as the real deal. Jewelers and brands should capitalize on this new consumer movement and drive a new narrative about diamonds. One that opens up the world of diamond innovation and expertise.
We invite you to join us on a journey where cutting-edge technology and genuine consumer needs converge, redefining the very essence of diamonds in a world that values both brilliance and trust. Welcome to the future of fine jewelry – where the new real, backed by the best in gemology and technology, sets the stage for a sparkling revolution in the world of diamonds.