Sustainability considerations now rank alongside price and design for global consumers when purchasing diamonds, according to new research by De Beers Group.
In the company’s eighth annual Diamond Insight Report, it takes an in-depth look at the topic of sustainability in the diamond sector, including how sustainability considerations are influencing consumer decisions relating to natural diamonds.
The report found that sustainability considerations were influencing consumer purchase decisions across all sectors, with 60% of consumers and more than 80% of opinion leaders
having chosen to buy a product made in a more environmentally or socially responsible way over any other product.
The study also found that fine jewellery ranked third, after only food and clothing, as the category most frequently purchased on the basis of sustainability considerations.
The top five sustainability considerations for diamond consumers in the study were protection of the environment, fair worker treatment, conflict-free sourcing, supporting local communities and diamond origin.
Bruce Cleaver, CEO, De Beers Group, said: “With sustainability being one of the key mega trends across all consumer sectors, this year’s Diamond Insight Report explores how sustainability factors are influencing consumer attitudes towards diamonds.
“The natural diamond industry has an impressive – if sometimes poorly understood – recent track record in creating immense and widespread benefits throughout the value chain, with ambitious sustainability commitments for the coming decade and beyond.”
He added: “As this report demonstrates, all players in the industry must now consider how they can best connect consumers more closely to this positive impact, which will be critical to maintaining long-term consumer trust, desire and loyalty.”