Diamonds seen as symbol of authenticity, says study
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4 December 2019
Consumers will likely buy holiday gifts that they deem “authentic” in terms of material, origin or history, and these include natural diamond jewellery, a new consumer survey showed.
The study, “Consumer Preference for Authenticity and Naturalness,” released by Yale University professor and psychologist Dr. George E. Newman, revealed that authenticity is central to the value of a gift and gives the most joy to recipients. The study surveyed a total of 10,664 US adults, aged 18 and older, about authenticity and gifting in April, October and November this year. The results were published by the Diamond Producers Association (DPA) in its website.
“In today’s online marketplace, people are deluged with more choices than ever before,” noted Newman. “But from natural diamonds to authentic brands, such as Apple or North Face, people are drawn to items because of their authenticity.”
An item can be authentic in several ways. In the case of diamonds, more than 80 percent of respondents agreed that diamonds are precious and hold their value over time, as opposed to their lab-grown counterparts or diamond simulants.
“Natural diamonds formed by the earth three billion years ago are valued as more authentic than synthetic replicas created in factories for commercial purposes,” the study said.
The top gifts that mean the most to consumers are authentic branded products such as a North Face jacket (93 percent) or an Apple Watch (86 percent); a natural diamond ring (86 percent); or a product made with authentic quality materials such as a cashmere sweater (88 percent).
The study also found that authenticity is appreciated by all ages as proven by consumers, grouped by age from 18 to 80 years old.
“Objects can radiate authenticity in many ways, from the natural materials or traditional craftsmanship that compose an item, to the origin of the item’s production or heritage of its brand story,” remarked Kristina Buckley Kayel, managing director of DPA North America. “The common theme found throughout authentic products, however, is their capacity to bestow emotional and sentimental value, whether purchased for one’s self or as a gift for a loved one.”