Young generations push record diamond demand but require new approaches by industry

The worldwide demand for diamond jewellery set a new record high of $82-billion in 2017, diamond giant De Beers reported in its “Diamond Insight Report 2018”. The driving forces behind this demand were Millennial and Generation Z (Gen Z) consumers, who, together, accounted for 66% of global diamond sales last year. Millennials means people who are currently in the age range from 21 to 39, when Gen Z covers those who are currently ages 20 years or younger.