Nine in 10 millennial women are looking for “authenticity” when buying luxury items such as diamonds, according to a recent study by the Diamond Producers Association (DPA).
The survey, commissioned to KRC Research from 10 to 14 July among 995 millennial women between the ages of 18 and 34 in the United States, discovers that while millennials are expressing a preference for authenticity in luxury goods, they prefer fewer and finer items, with 94 percent of the highest earning millennials (US$150,000+) expressing a preference for one more expensive item that is genuine, over lots of cheaper ones.
“Millennial consumers in particular are defining luxury beyond price,” said Deborah Marquardt, chief marketing officer of DPA. “When evaluating luxury purchases, they seek items that are genuine, unique and not mass-produced, and have inherent meaning and value. This preference speaks directly to the diamond promise - in an increasingly artificial world diamonds remain authentic, rare and precious.” (Thumbnail: Rough diamonds from Gem Diamonds' Ghaghoo mine. Botswana. Courtesy: DPA)
Click here for the survey report.
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