Millennials were once feared in the diamond industry, but now this younger generation has become today’s largest diamond buying demographic.
Brought To You By RDI Diamonds
Millennials were once feared in the diamond industry, threatening to make diamond jewelry a thing of the past. Instead this younger generation has become today’s largest diamond buying demographic.
“Dispelling the myths around millennial buyers is the first step in understanding how to connect with and sell to them,” said Sam Indelicato, Director of Jewelry for RDI Diamonds.
There’s no shortage of millennial myths in need of dispelling: You’ve heard that millennials only buy online. It’s simply not true. Younger buyers see jewelry as a personal purchase and as many as 95 percent want to make an in-store purchase after relying on the Internet for research and influence.
Another popular myth is that only men buy diamonds. Guess what? Millennial women are becoming a majority buyer. Seventy-three percent buy for themselves and many choose their own engagement ring or heavily influence the monumental purchase.
As a family-owned jeweler, you have an opportunity to widen your audience to include what is likely the most diversely represented and inclusive purchasers to date, millennials.
Start by knowing what’s important to them. Younger buyers aren’t looking for bargains, but rather want to make authentic, meaningful purchases from a knowledgeable, trustworthy seller. Eighty-six percent are drawn to brand names and choose those that represent their values and ethics. Ensure that your voice and advertising reflect those values and provide a warm welcome by showing diversity and genuine inclusivity.
“When you create a genuine brand that showcases your strengths and shares your buyers’ values, it’s kismet,” said Indelicato. “Your brand will knock it out of the park, delivering exactly what your buyer seeks.”
Becoming a Rare & Forever authorized jeweler can empower you to showcase values you can be proud of and provide transparency around the products you offer. Rare & Forever diamonds are natural diamonds that are ethically-sourced and hand-selected for their highest quality and consistency. They are screened for brilliance and exclusively graded with cutting-edge proprietary technology. Rare & Forever diamonds, including finished bridal and fashion jewelry lines, are available only through authorized jewelers, guaranteeing your customers superior quality, integrity and service that only a business like yours can provide.
Find out how you can become a dealer here.