Staff Writer
Natural diamonds remain the most sought-after luxury jewellery product in the United States, with younger consumers spending more than previous generations and purchases increasingly extending beyond engagements and weddings, according to new research released by De Beers Group.
The company’s latest US Diamond Acquisition Study, conducted in 2026 and based on responses from 18 500 women aged between 18 and 74, found that Gen Z has emerged as a major force in the natural diamond market, while average spending on diamond jewellery has reached record highs.
According to the study, Gen Z consumers now spend an average of US$4,080 per natural diamond jewellery purchase, almost double the US$2,250 spent by Baby Boomers.
The generation also accounts for 23% of the value of natural diamond demand in the US despite representing only 18% of the population.
The findings were published as part of De Beers’ latest The Diamond Report, which examines changing consumer behaviour in the world’s largest diamond jewellery market.
The study found that natural diamonds remain consumers’ preferred luxury jewellery choice.
Eleven percent of women surveyed identified natural diamond jewellery as their most desired luxury gift, ahead of synthetic lab-grown diamonds at 8%, other gemstones at 5% and plain gold jewellery at 4%.
Consumer spending has also increased significantly. The average price of a natural diamond jewellery purchase rose to US$4,063 in 2025, compared with US$3,242 in 2023, representing an increase of around 25%.
The rise was attributed largely to consumers purchasing diamonds with higher average carat weights, which increased from 1.65 carats in 2023 to 1.86 carats last year.
While engagements and weddings remain the industry’s biggest demand driver, De Beers said buying patterns are changing as consumers increasingly purchase diamonds to celebrate personal milestones such as career achievements, promotions, birthdays and other life events.
Among Gen Z consumers, bridal purchases account for 45% of natural diamond acquisitions, but birthdays have become particularly important, representing 17% of purchases compared with an average of 13% across all generations.
The study also found that Gen Z consumers purchase or receive diamonds for an average of 1.83 occasions each year, higher than the overall average of 1.7 occasions.
The research suggests younger buyers increasingly view diamonds as a form of personal expression rather than solely symbols of romance.
Gen Z respondents were also found to rely more heavily on social media when researching jewellery purchases than any other age group.
Diana Mitkov, lead researcher within Diamond Demand Insights and Analytics at De Beers Group, said the findings demonstrate that consumer interest in natural diamonds remains strong despite changing buying habits.
“The study findings highlight that today’s consumers aspire to own natural diamonds just as much as the generations that came before them, and ahead of any other jewellery product,” she said.
Mitkov added that while engagements remain important, consumers are increasingly purchasing diamonds to commemorate a wider range of personal milestones and are seeking jewellery that reflects their individual identities.
The report also points to encouraging retail trends for natural diamonds in the United States. Point-of-sale data collected from 950 independent jewellery retailers showed natural diamond sales increased by 4% year-on-year during the fourth quarter of 2025 and by 9% during the first quarter of 2026.
Diamonds promoted through De Beers’ “Desert Diamonds” campaign, particularly coloured and lower-colour stones in the K to Z range, recorded even stronger sales growth of 15% and 19% respectively.
Although synthetic lab-grown diamonds continue to grow in sales volumes, De Beers said falling retail prices have limited their contribution to overall market value.
The report estimates that lab-grown diamonds accounted for only 15% of independent jewellers’ diamond sales value in 2025, while natural diamonds represented the remaining 85%.
