THE DIAMOND INSIGHT REPORT 2022

Key Highlights Shaping Consumption: De Beers

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New research published by De Beers Group highlights the key trends which are shaping how younger generations perceive, research and buy diamonds - predicting that ethical assurances, branded offerings, "phygital retail, and Web3 experiences will define the diamond world moving forward

THE FUTURE IS ARRIVING

For millennia, natural diamonds have been the ultimate symbol of love, strength, and connection between two people. This continues in modern times, with consumer desire for diamonds being incredibly enduring in the main consumer markets around the world despite a range of recent global challenges.

However, while the allure of diamonds continues unabated, how people interact with each other - and with products and brands - is changing and more rapidly than ever before. Social and technological change has been accelerated in recent years by the Covid-19 pandemic, geopolitical events and evolving societal attitudes as younger generations make their mark on the world. Many of the consumer trends the diamond industry has been observing and anticipating for some years - the desire to shop more sustainably, wanting to know where and how diamonds are sourced and the preference for ecommerce - have become an embedded part of the diamond acquisition journey. As a result, considerations such as provenance, brand and digital presence now sit alongside traditional attributes of design, quality and price when people choose diamonds.