Lab Grown Diamonds Consumer Research Update Historical Progression

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Information about Lab Grown Diamonds Consumer Research Update Historical Progression

Published on October 6, 2016

Author: MartyHurwitz

Source: slideshare.net

1. Lab Grown Diamonds Consumer Research Update Historical Progression 2004-2016 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 1

2. Lab Grown Diamonds Consumer Research Update MVI has been conducting consumer market research studies on awareness and acceptance of Lab Grown Diamonds since 2004. What follows is a historical summary of the key research findings drawn from multiple studies conducted by MVI between 2004-2016. For additional information contact Marty Hurwitz Marty@MVIMarketing.com. 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 2

3. Lab Grown Diamonds Consumer Research Update 2004 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 3

4. Key Findings from 2004 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 4 Consumers are largely uneducated about lab grown diamonds with over a third unfamiliar with any of the terms describing them The overwhelming majority of consumers are either extremely or somewhat unfamiliar with lab grown diamonds Color and clarity are important, but authenticity is paramount Deeper discounts for lab grown diamonds do not change the relative choices of mined vs. lab grown diamonds

5. Key Findings from 2004 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 5 Consumers are largely price inelastic 43% of the consumers selected “Mined diamonds are authentic, not imitations” as the main reason they prefer mined diamonds Three out of four consumers are concerned that lab grown diamonds could be “passed-off” as mined diamonds Over 50% want a certificate of authenticity with their diamond purchase

6. Lab Grown Diamonds Consumer Research Update 2005 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 6

7. Key Findings from 2005 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 7 There is a concern among US and Canadian residents that lab grown diamonds will be sold or passed off as mined diamonds A certificate of authenticity was more powerful than a laboratory grading certificate in reassuring consumers of the nature of their diamond purchase In most cases, as the price of the diamond increases, within a set quality level, consumers are more likely to switch to a lab grown diamond In general, as the quality of diamonds decreases, consumers become more likely to switch to lab grown diamonds

8. 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 8 Key Findings from 2005 Research

9. 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 9 Key Findings from 2005 Research If you plan to purchase a lab grown diamond or lab grown diamond jewelry, which one of the following would best reassure you the diamond was not being misrepresented?

10. 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 10 Key Findings from 2005 Research Would you consider purchasing a lab grown diamond or lab grown diamond jewelry?

11. 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 11 Key Findings from 2005 Research Base: All respondents who plan to become engaged or married within the next year. Would you give your fiancée a lab grown diamond ring?

12. Lab Grown Diamonds Consumer Research Update 2007 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 12

13. Key Findings from 2007 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 13 Based on a discrete choice exercise, consumers still preferred mined diamond over lab grown diamonds in most cases. However, there are some scenarios where consumers actually preferred lab grown diamonds Overall, as the price of the mined diamond increased, and the actual savings, at a 20% discount, becomes greater, the consumer is more likely to prefer the lab grown diamond

14. Lab Grown Diamonds Consumer Research Update 2009 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 14

15. Key Findings from 2009 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 15 Knowing what you now know about lab grown diamonds, would you consider purchasing, or requesting as a gift, lab grown diamond jewelry? (Select only one)

16. Key Findings from 2009 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 16 For each of the following, please indicate if you would consider purchasing lab grown diamond jewelry.

17. Key Findings from 2009 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 17 What is the primary reason you would consider purchasing lab grown diamond jewelry? (Select all that apply) Base: Respondents who would consider purchasing a lab grown diamond or requesting as a gift lab grown diamond jewelry. (n=827)

18. Key Findings from 2009 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 18 If you were shopping for a fine jewelry gift, would you consider purchasing a lab grown diamond jewelry style? (Select only one)

19. Key Findings from 2009 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 19 Where would you be most likely to purchase a lab grown diamond jewelry style? (Select only one)

20. Lab Grown Diamonds Consumer Research Update 2016 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 20

21. Key Findings from 2016 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 21 (After introduction statement) Now that you understand what lab grown diamonds are, what do you think of them? (Select all that apply)

22. Key Findings from 2016 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 22 If you were shopping for an engagement ring, would you consider lab grown diamonds for the center stone?

23. Key Findings from 2016 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 23 Do you think these man-made lab-created stones should be called diamonds?

24. Key Findings from 2016 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 24 What is the main reason you are interested in lab grown diamonds?

25. Key Findings from 2016 Research 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 25 How much do you think lab grown diamonds should sell for compared to mined diamonds?

26. MVI‘s Luxury Consumer Research is the industry standard for detailing, defining and analyzing consumer preferences and likely behaviors. With over 30 years of experience and leadership, MVI has perfected a unique predictive modeling protocol, allowing our clients to learn what will sell thru, with which consumers, for what price, and where. Predictive Modeling of likely consumer behaviors is critical in today’s competitive marketplace, where the cost of raw materials continues to rise, and sell thru at retail is the only metric that counts. In addition to product research with target consumers, MVI‘s Luxury Consumer Research is the perfect vehicle for testing brand awareness, equity and leverage opportunities. MVI’s clients include multi-national conglomerates, manufacturers, retailers, trade associations, financial institutions and sovereign nations. For additional information contact Marty Hurwitz Marty@MVIMarketing.com. 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 26 About MVI

27. Marty Hurwitz CEO MVI Marketing Ltd. Email: Marty@MVIMarketing.com 5 October 2016 Lab Grown Diamonds Consumer Research Update- Historical Progression 2004-2016 Copyright MVI Marketing Ltd. All Rights Reserved 27 Contact MVI Marketing Ltd. (MVI) hereby disclaims all warranties related to this report. Specifically, this report is provided “as is” and “as available.” To the maximum extent permitted by law, MVI expressly disclaims any and all warranties, expressed or implied, regarding this report, including, but not limited to, any implied warranties of merchantability, fitness for a particular purpose, or non-infringement. MVI does not warrant that the report will meet your requirements or that the report will be complete and error free. The information in MVI reports may contain errors, omissions, problems or other limitations. MVI and our affiliated parties have no liability whatsoever for your use of any information in our reports.

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