As international brands, domestic jewelry giants, and state-owned enterprises have successively invested in the Lab Grown diamond industry, the exposure of the cultivated diamond industry has accelerated, and it has quickly become well-known to consumers, and cultivated diamonds are ushering in their own spring. The sparkling diamonds are crystal clear and extremely hard, symbolizing the purity and steadfastness of love. This characteristic is what people have always dreamed of in love. Therefore, diamonds are known as the symbol of love and are the mainstream core product consumed in the wedding market.
However, natural diamonds originate from the monopoly of international giants, and resources are scarce. Diamond prices have been rising, making it difficult for ordinary consumers to afford them. With the changes of the times and the iteration of young consumption, the Chinese jewelry market is undergoing a series of changes. As a high-tech product, cultured diamonds have been recognized by young consumers for their environmental protection and cost-effectiveness, and have become a new trend in jewelry consumption.
Lab Grown diamonds are diamond crystals that are artificially synthesized using scientific methods to simulate the crystallization conditions and growth environment of natural diamonds. From the perspective of product attributes, both cultured diamonds and natural diamonds are crystals of pure carbon. They have exactly the same physical, chemical and optical properties. They are comparable to natural diamonds in terms of transparency, refractive index, dispersion, etc., and are comparable to natural diamonds in terms of brightness, luster, fire, scintillation, etc. The characteristics of jewelry are exactly the same as those of natural diamonds. Both cultivated diamonds and natural mined diamonds are real diamonds, which are essentially different from imitation diamonds such as moissanite (moissanite) and rhinestones (cubic zirconia).
According to industry market analysis, consumer demand for diamonds has gradually upgraded from being initially required for weddings to daily jewelry. Therefore, the comprehensive advantages of cultivated diamonds in terms of price, quality, style, etc. will inevitably create more development opportunities for the market, and are also expected to change the long-standing fixed pattern of the diamond industry, which is very important for the increasingly competitive Chinese diamond industry. This is nothing less than good news.
At present, GIA, IGI, and HRD, the world's three major international authoritative diamond appraisal institutions, can all issue diamond appraisal and grading certificates for lab-grown diamonds. Various data monitoring shows that the quality and cost of lab-grown diamonds have reached market standards, which is comparable to that of natural diamonds. The physical properties and chemical composition of diamonds are exactly the same. As the lab-grown diamond industry matures, I believe that domestic testing agencies will gradually standardize and standardize the definition of lab-grown diamonds, and formulate strict definition standards, so that consumers can choose lab-grown diamonds with more confidence.
Younger consumer groups are very compatible with lab-grown diamonds. As natural mined diamonds are non-renewable energy sources, their supply will gradually decrease. In fact, whether it is upstream trading or retail, most diamond transactions have begun to measure the possibility of laboratory-grown diamonds as a sustainable supply source. The characteristics and pattern of the cultured diamond industry not only cover the jewelry market, but also find breakthroughs for the development of fashion retail, accessories and other markets. In the future, cultured diamonds will open up emerging consumption forms and innovative consumption models.
The quality of lab-grown diamonds is comparable to that of natural diamonds, and the price is lower. The emotional value can be partially compensated by the "ceremonial sense" of merchants, and young consumers are paying more attention to and accepting lab-grown diamonds. As the largest diamond industry It is expected that the penetration rate of the wedding market will increase; at the same time, lab-grown diamonds will open up a new world in the field of light luxury and pleasure, and the overall market space is huge. The core of the development of lab-grown diamonds lies in the establishment of a global price system, especially the retail price system.
Millennials are the main consumers of diamonds, and their emphasis on wearing needs will bring opportunities for the development of cultivated diamonds. Generation Z, who are rich in personality and multicultural in history, are also growing up. Compared with millennials, they hope to integrate their own emotions and preferences into consumption and become participants in product creation. Millennials and Generation Z, as the main consumers in today's domestic and foreign markets, are highly receptive and tolerant of new things. At present, the traditional operating model of the jewelry industry is gradually unable to meet consumers' needs for emerging things in terms of consumption functions. , and cultivated diamonds, as a new product of modern high technology and wisdom, will transform from a competitor to natural diamonds to an inevitable product that triggers the craze of diamonds in the new era, and consumer perceptions will change accordingly.
Younger consumer groups are very compatible with lab-grown diamonds, an emerging thing with mysterious and cool properties. Their acceptance will rapidly support the development of the lab-grown diamond market and open up a new world for the diamond industry. As China is the largest producer of lab grown diamonds and the second largest consumer of diamonds, when consumers have a clear understanding of lab-grown diamonds, China's lab-grown diamonds will surely experience an unprecedented explosion, forming a market worth hundreds of billions.
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