
The Natural Diamond industry is SHOCKED about what’s happening now, said Roger Kylberg in one of our recent LabGrownDiamonds Roundtable hosted by Sandhya Valecha.
Adding to what Roger said, if you actually think of it: At some point, the market will balance itself.
I firmly believe that consumer segmentation for Natural and Lab Grown Diamonds will emerge over time. However, it’s important to mention that I don’t have any supporting data to back this up. A lot of what I talk about in this article is my personal opinion.
Let’s consider the current Natural Diamond consumers – those who cherish the exclusivity of owning something rare and precious. It is highly unlikely that these consumers will make the switch to LabGrownDiamonds.
Then we have a segment that has already moved to the other side. They are now the consumers of Lab Grown Diamonds. To these individuals, the other aspects of the diamond story matter more than exclusivity. They resonate with lab-grown narratives without losing the charm of owning a diamond.
And then there will be a new wave of consumers who could not afford Natural Diamonds earlier… But, thanks to Lab Grown Diamonds, they can now enter the world of precious gemstones. I believe a small portion of these consumers will eventually climb the ladder from the Lab Grown to the Natural world.
As Roger said, “The market will balance itself sooner or later”.
And I personally feel, the Natural industry will regain some of its lost market share down the line.
But who knows. I’m just predicting. Thinking aloud.
What do you think:
Do you see the Market expanding and then balancing itself?
Do you see the Natural industry taking back some of its lost market share to the Lab Grown World?
Of course, these are only predictions based on current trends and personal assumptions.
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