Diamond Gifts are Still the Most Remembered
A recent survey conducted by the Diamond Producers Association shows that Millennials want to give diamond jewelry just as much as any other age group.
In the diamond industry it was widely believed that many of the Millennials (a person reaching young adulthood around the year 2000) were foregoing the diamond for other gemstones, but the survey taken shows just the opposite, to the surprise of many.
“Quality over Quantity”
Here are some other interesting tidbits you might find interesting:
- People still very much appreciate giving AND receiving diamond jewelry.
- All who took the survey said when they were given diamond jewelry it was the best gift they received.
- By comparison, consumers who didn’t receive diamond jewelry had trouble remembering their last holiday gift.
- 80% of the women who did receive diamond jewelry wanted to keep it, and did not want to exchange it for another piece.
- The order of diamond jewelry preferences are listed in order.
- Diamond Rings / Engagement Rings
- Diamond Earrings
- (for millennials) Diamond Solitaire Necklace
- (for older consumers) Diamond Tennis Bracelet
- This holiday season approximately one-third planned on giving a diamond gift, in contrast to last year’s one-forth.
- All age groups were of the same mind on 3 main ideas.
- We would rather receive one meaningful gift as opposed to a lot of smaller gifts.
- The main statement was “Quality over Quantity”
- Smaller gifts were the ones most often exchanged, or forgotten.
Know the Customer
When asked why the general consensus of the Millennials was the opposite of what he expected, Morrison of the Diamond Producers Association stated “It may be a question of how we’re marketing and how we’re retailing, more than their feelings about the category itself. We have to work harder to connect with them.”
My general feelings on the subject.
After reading this survey, I have to say, it wasn’t really all that shocking. Jewelry is loved / desired by most men and women in some form. For diamond jewelry this holds especially true.
Diamonds are typically more expensive, and have come to symbolize commitment and love. To many, it has a lot to do with what’s not being said, but, instead, the meaning behind it. People tend to spend more money, and show more effort on what they consider important to them, and diamond jewelry translates your feelings loud and clear. That’s why they make such exceptional gifts.
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