Retail strategies to meet the evolving demand for lab grown jewellery
The global jewellery landscape is changing fast. As buyers become more conscious of the impact behind their choices, retailers are shifting gears to meet the growing demand for sustainable, ethical and affordable alternatives, led by lab grown diamonds. In 2023 alone the lab grown diamond market was valued at 22.79 billion dollars and is projected to cross 38 billion dollars by 2029. For brands dealing in lab grown diamond jewellery, this is not a passing phase, it is a long term transformation.
Understanding the shift in consumer preferences
Today's consumers are not just buying jewellery, they are buying into values. Around 73 per cent of buyers say sustainability affects their purchase decisions. Younger generations are at the heart of this shift. Millennials and Gen Z in particular are expected to make up 70 to 75 per cent of lab grown buyers by 2032.
Social media and celebrity endorsements have further amplified visibility. When pop culture meets purpose, the result is a more aware, discerning customer base that expects more from brands, not just in design but also in responsibility.
The rise of CVD stones and jewellery in global markets
CVD diamond jewellery is driving much of the growth in this space. CVD technology allows for precision, quality and customisation, three traits today's customers actively seek. The US is the largest consumer, driving much of the global demand. Meanwhile, Europe is projected to capture a 28.4 per cent share by 2025.
India, already a leader in cutting and polishing, is now emerging as a powerhouse in both production and consumption of CVD jewellery, thanks to rising domestic demand and government support for green alternatives.
Retail inventory strategies
The success of lab grown diamond jewellery in retail depends on smart inventory decisions. Lab grown stones can be up to 80 per cent more affordable than mined diamonds, depending on quality, opening the door to greater variety and creativity without inflating stock value.
Retailers should consider a mix of:
- Certified and non certified stones.
- Loose grown stones and ready to sell collections.
- Lightweight pieces for daily wear and premium collections for bridal or luxury buyers.
Tiered inventory lets retailers serve different customer budgets without compromising on aesthetics or quality.
Pricing and profitability in a volatile market
Lab grown diamond prices have gradually stabilised, allowing retailers to plan better and protect margins. Cost effective sourcing, when paired with steady demand, ensures consistent profitability. This is where working with an experienced supplier like KIRA makes a difference, by offering reliable supply, transparent pricing and variety across shapes and sizes.
Marketing to the modern jewellery customer
Today's customer is more informed, value conscious and sustainability driven than ever. They seek transparency in sourcing, ethical craftsmanship and exceptional quality, all without compromising on style or individuality. To market lab grown diamonds effectively to this audience, retailers must focus on authentic storytelling, highlight the technological precision behind CVD stones, and emphasise the eco friendly and cost effective benefits.
Lab grown diamonds generate up to 85 per cent less carbon and use around 50 per cent less water compared with mined stones, facts that can be easily communicated through search optimised content, influencer tie ups, AR tools and custom design platforms. These efforts do not just build awareness, they build trust.
Strategic partnering with reliable suppliers
Retailers need suppliers who do not just sell but support. This means offering:
- Consistent product quality.
- Proper certifications.
- Customisation support.
- Quick turnarounds.
Asia Pacific, led by China and India, now accounts for 40 per cent of global lab grown production and consumption, making the region crucial for retail supply chains. KIRA, with its deep presence in this space, helps retailers access everything from CVD diamond jewellery to fancy coloured and custom shaped loose grown stones.
How retailers succeeded with KIRA
Several independent and multi store retailers have scaled their business with KIRA's flexible model. By offering just in time supply, a wide design range, and exclusive shapes and colours, they have been able to stay competitive and stand out in a crowded market.
With global production of lab grown diamonds expected to cross 25 million carats by 2025, having the right partner ensures you can keep up with both volume and variety.
A forward looking approach for retailers
This shift toward lab grown diamond jewellery is not a trend. It is a reset. With lab grown stones expected to represent over 21 per cent of the global diamond market by 2025, the message is clear: adapt or fall behind.
Retailers that embrace agility, offer meaningful choices and partner with reliable suppliers are best placed to grow.
- High quality ready made jewellery designs and loose grown stones.
- Access to a vast inventory of 250,000 plus stones in various shapes and sizes.
- Reliable global delivery and competitive pricing.