Gen Z, Millennials lead global diamond jewellery demand, says De Beers
19th October, 2018
The millennial and Gen Z generations combined accounted for two-thirds of global diamond jewellery sales in 2017, as diamond jewellery demand reached a new record high of US$82 billion, according to the latest Diamond Insight Report by De Beers Group. The report noted that millennials are in general more mistrusting, requiring brands to earn their trust before they can pursue growth, while Gen Z tend to be more individualistic and optimistic, desiring products that help build their own personal brands. At the same time, the two generations adopt similar stances with regards to valuing love, being digital natives, being engaged with social issues and desiring authenticity and self-expression.