International Jewelry Trade and Consumer Research Launched
THE MVEye began conducting trade and consumer research on lab-grown diamonds in 2004. Since their first study, they have identified trends, forecasted product sales, and monitored consumer awareness levels. Lab-grown diamonds is the fastest growing category in the market, therefore the need to monitor and understand the expected sales for this holiday season is crucial to suppliers and retailers alike.
“We have expanded the base of respondents to include 1,000 consumer shoppers from both the U.S. and Canada as well as fine jewelry retailers from Australia, Canada, the EU, New Zealand, and the U.S. This will give us a wider understanding of the impact lab-grown diamonds has had on the jewelry market over the last few years and what holiday will look like in 2022,” states Liz Chatelain, president THE MVEye.
This year’s study is being spearheaded by the International Grown Diamond Association (IGDA) and sponsored by GIA - Gemological Institute of America and LUSIX, Sun Grown Diamond producer.
“Monitoring and understanding the acceptance and growth of lab-grown diamond jewelry sales is beneficial for the industry overall as well as for our IGDA members. We are happy to engage THE MVEye to bring this vital research together with the sponsors,” said Richard Garard, Secretary General, IGDA.
The research for both the consumer shopper and jewelry retailers will be conducted online as well as with video interviews. “We are looking forward to seeing and hearing the consumer’s experience with finding, learning about, shopping for and gifting lab-grown diamond jewelry, as well as the retailer’s first-hand experience with lab-grown diamonds,” added Liz Chatelain.
Consumer shopper research topics will include:
· Current LGD awareness
· LGD product comprehension
· Acceptance levels
· Category preference
· Key influencers
· The use of sustainability claims and product grading certificates
· Forecast of spending for holiday 2022
Results of this extensive international research in the form of a digital report including video clips is to be published in early November and available through THE MVEye and IGDA websites.