Shopping style and pre-purchase research

• On jewelry generally, millennials often seek eclectic pieces from trendy brands and they prefer artisanal jewelry from small or new designers, or handcrafted works sold through online platforms like Etsy.
• Millennials tend to compare prices online, research product details, and seek discounts and promotions.
• Engagement ring customers are doing their research, and reading about brands and shops online before going into the store. They often have photos of what they want, and a lot more information about the product than people did five years ago.
• The 3d-modelling try-it-before-you-buy method has been very popular.

Purchase

• A consumer survey on engagement ring purchasing focused on their price and style preferences (76% say they should cost less than $10,000 and the majority preferred a round diamond set and a traditional and elegant style).
• Half the users prefer to buy from a local store, while half preferred a chain.
• Lab created diamonds are increasing in popularity due to their eco-friendly characteristics.
• More than one-fifth of U.S. engagement ring shoppers surveyed recently say they care about the responsible sourcing of diamonds.
• Price is a key purchase driver, as is increased awareness of and acceptance of lab-grown diamonds.

Handoff

• Millennials are increasingly buying diamonds for themselves rather than for loved ones.
• Increasing numbers of millenials are choosing not to get married at all, while many of those who do, view it as an equal partnership and hence make purchase decisions as a team.