Natural diamonds have taken a big hit in the past few years. From the highs and lows of Covid-19 spending on luxury, to economic uncertainty and an oversupply in the midstream that has led to a persistently weak market, prices and demand have dropped. And that’s before you consider the effect of the younger demographic’s growing interest in lab-grown.
With significant obstacles to overcome, those in the trade have been looking for a solution to reengage Millennials, Gen Z and up-and-coming Gen Alpha consumers with the wonder, rarity and magic of a natural diamond. Enter De Beers and Signet Jewelers. The miner and the US retailer, which owns banners such as Kay, Jared, Zales and James Allen, have teamed up to launch a new marketing campaign called “Worth the Wait,” intended to capture consumer attention and reignite desire for natural diamonds.
Yet does the campaign live up to its hype? We asked our readers for their opinions, and boy did they weigh in.
Survey says
Of those surveyed, 63% of respondents liked the campaign, although only 58% of those said they would use it in their stores if they were given the opportunity. Multiple respondents who did not care for the advertisement worried it was “too little, too late” and thought interest for, and market share in, synthetics had gained too much traction, and the campaign should have come earlier, when there was still time to turn sentiment. Another felt the message only aided large-scale jewelers.
“[The advertisements] will mostly benefit [Signet] Jewelers, not all jewelers,” the respondent noted. “De Beers needs to go back to generic diamond advertising, which drives the consumer to all jewelers, not partner with the largest chain. It’s not enough to move the needle, and mostly just confuses the customer.”
A number of those surveyed said they didn’t like the new advertising because they felt it was too risqué or complicated.
“Keep the sex out of it, even the hint of it. Keep it classy,” commented one participant.
“The ad sucks; it’s too complicated — equating people and diamonds? Talk about and explain the science behind naturally mined diamonds and how rare they can be, just like when looking for the right one,” another noted, while others followed that sentiment with “It’s confusing. What is the message?” and “It doesn’t send a clear message.”
While some were okay with the overall theme, they thought it didn’t get to the point fast enough.
“The message is a bit long. It should be 15 seconds max,” one respondent stated, while others said “It took too long to get into the selling of the diamond,” it was “too long, vague, and lacked inclusivity,” or that it was “too long, and seemed like an advertisement for some sports challenge, like a Nike ad or something institutional like the fight against violence.”
Several also believed the ad didn’t touch enough on the rarity and specialness of a natural diamond.
One observed, “It lacks romance. It sounds like a self-help organization and a reward for living life. The point is not clear and could refer to natural or synthetics.”
Another felt “the campaign makes the diamond experience too banal. The dimension of glamour is totally eluded,” while a third said the ad was “boring and not focusing on the glamour of diamonds.”
“It’s too little and too late,” a fourth noted. “We need more storytelling, and emotional connect to all the ethnicities, all genders, age groups, etc.”
The yes and no of it
While the majority of those surveyed said they liked the campaign, a portion of those admitted they would not feature it in their stores.
“I find this ad engaging, but I am not 100% sold on the fact that young shoppers will want natural. I think more about the value of naturals needs to be touched upon,” one said. Another felt it was enjoyable, but they couldn’t put it in their store because “the majority of our customers prefer the size and price point of lab diamonds for their engagement rings. It just doesn’t compare to the natural-diamond price points. The ad campaign is well done and will appeal to some… but I don’t see it changing the lab-diamond demand.”
“‘Worth the Wait’ is a lovely and touching concept, especially for those who feel a deep connection to natural diamonds,” a California-based jeweler explained. “However, we believe that each customer should have the freedom to choose the piece that truly resonates with them — whether it’s natural, lab-grown, or another style entirely. We’re here to support our clients in finding pieces that align with their unique preferences and energy, without steering them toward any particular choice.”
Meanwhile, an Illinois-based retailer noted that while it was nice, it really needed to be expanded upon. “Excellent take for the importance of bridal. But when a gift matters, when its significance is important enough to endure and last a lifetime, [consumers need to know that] only what hath nature wrought will endure,” he said.
Yet another retailer who runs a jewelry store in Harrisonburg, Virgina, said they liked it but would not use it in their store because it had “not a word about marriage, and a natural diamond is worthy of a forever commitment.”
In the market
When it comes to advertising natural diamonds, our readers had varying ideas of what campaigns should focus on. A number thought emphasizing the value of a diamond was the way to go.
“This is a tough one. Young buyers who are used to ‘throwing away’ large sums of money towards experiences need to be convinced this is the right place to spend money,” one noted. “I don’t feel Millennials or Gen Z are convinced the diamonds they buy today will be worth any more in a decade or two from now.”
Others agreed, saying the theme of “hard work, value and worth the wait” and letting consumers know that natural diamonds are “rare, precious and have value,” was the way to go.
A second group believed playing on the emotional aspect was top priority.
“It’s not about how it looks, it’s how it makes you feel,” said a respondent. “I can wear a fake, expensive-looking Rolex, [and] it might make me look rich, successful, or loved, but I won’t feel that way.”
Another noted that “talking about love and allowing customers to carry the deeply personal and sentimental part of their loved one with them wherever they go is a strong message for natural diamonds.”
A third portion of those surveyed felt it was essential to highlight the benefits of natural versus lab-grown.
One pointed out that “the negatives of [synthetics] should be highlighted, because a diamond is forever but is a [lab-grown]?” A second thought it was “essential to capitalize on the fact that diamonds remain a creation of the Earth which adds prestige to it, unlike synthetic diamonds.”
They also emphasized that telling the story of the people mining the diamonds was important, as “a diamond birthed in a lab does not support the livelihoods of many miners who also need to make a living.”
Good value?
While respondents had a lot of thoughts on the campaign — good, bad and everything in between — a few questioned if it even mattered in the long run.
“Consumers want the best possible value for their money,” a jeweler said. “Diamonds are not different in this respect — at least, not to our customers. Gen Z and Millennials want a ring that is Instagram worthy and that translates to a 2-carat-plus lab diamond. More frequently they want 3 carats or more. They don’t see the value in a natural diamond, and I honestly don’t think any ad campaign is going to change that.”
Watch the ‘Worth the Wait’ ad here:
Below are holiday campaigns from a few jewelers. Which appeals to you most, and why?
« With Love » de Tiffany & Co. avec Anya Taylor Joy
« The Party of Dreams » de Swarovski avec Ariana Grande
