Concerns about Social Responsibility lead Mined Diamond Industry to Recession

Diamond Industry Recession:

• 25% decline in rough diamonds sales
• 10% decline in polished diamond sales
• 2% decline in global diamond retail sales

Mined Diamond Industry Disruptions:

• growing consumer demand for environmental and social responsibility
• online sales
• lab-grown diamonds 

What is the difference in this diamond industry recession & past ones?

Recent documentaries have shed light on the human and environmental costs of mined diamonds. 

Sustainable Options = Biggest Industry Threat:

Millennials and Gen Z consumers are the primary target for engagement rings and are choosing to buy lab-grown diamonds for their sustainability. 

Forbes | While Mined Diamond Sales Decline, The Future Of Lab Grown Diamonds Is Much More Than Jewelry