Diamonds are still a girl’s best friend — no matter what age
There have been rumblings lately that the Millennials are abandoning the age-old tradition of diamond engagement rings — the foothold for the jewelry industry. Case in point was Amanda Seyfried’s diamond-less engagement band.
Rest-assured, a recent study by DeBeers, while clearly self-serving, points out that the while the latest generation is delaying the marriage process, the diamond is still at the center of sealing the deal:
Millennials bought $16 billion worth of diamonds in 2015, 41% of all U.S. diamond sales. That’s on par with the $10 billion spent by Generation Xers in 1999, which was 42% of all sales at the time, De Beers says in a 2016 report on the diamond industry. Gen Xers, born 1965 to 1980, were the age of today’s millennials in 1999, a time when global diamond prices were only slightly lower than today.
