Starting with the fact that when a lab grown diamond is compared to a natural diamond, they are totally identical to each other in terms of their physical properties and atomic structure, hence why would one pay almost 50% extra for a natural diamond when an identical lab grown diamond would cost much less.
The only stark difference about the two types of diamonds is their origin and how they are produced, natural diamonds by Mother Nature over a billion years and lab grown diamonds by lab techs within weeks.
Given the fact that lab grown diamonds are as beautiful, as hard and consist of the same atoms that natural diamonds do, but cost so much lesser at retails, it’s a no brainer that lab grown diamonds are quickly becoming popular among diamond enthusiasts.
According to retail statistics, there has been a significant increase in the sale of lab grown diamond engagement rings not only because of the lower price as according to consumer research there are a number of other factors that are driving the sales of not just diamond engagement rings, but also other types of jewellery that are studded with lab grown diamonds.
Read on to know about these other factors that have been driving the sales jewellery with lab grown diamonds over the last decade.
First and foremost, it is the enhanced awareness of consumers about the fact that lab grown diamonds are identical to natural diamonds and the realisation that lab grown diamonds own up to better quality due to the controlled environments that they were curated within.
Secondly, there is also the elements of unethical practices that have long been associated with natural diamonds that range from mining processes that impact the environment negatively, conflict diamonds, where proceeds are used to fund conflicts, and even child labour used in certain parts of the world to procure natural diamonds.
Although, not all natural diamonds are linked to unethical these practices, the uncertainty is partly the reason behind the shift by consumers towards lab grown diamonds.
Surveys highlight statements such as “I am proud of owning an engagement ring with a lab grown diamond on it, because I do not have to deal with the guilt that comes with natural diamonds”.
Such statements advocate the popularity of lab grown diamonds and of course the fact that natural diamonds are so much more expensive, the fact that one could buy a bigger and more beautiful diamond engagement ring without burning a hole through their savings is undoubtedly also a big driver behind the rise in the popularity of lab grown diamonds.
It is a selling point as that although there is a huge difference in price, from the perspective of aesthetics and quality; one would acquire more satisfaction due to the lower lab grown price of buying diamonds minus the guilt.
Consumers are better informed these days and they are also frugal with their spending which renders lab diamonds the more practical choice.