JCOC announces results of its study on ‘Consumer Perceptions of Created Diamond Alternatives'

A study entitled ‘Consumer Perceptions of Created Diamond Alternatives’ conducted by MVI Marketing Ltd.'s consumer research division, Jewelry Consumer Opinion Council (JCOC) revealed a very high awareness level, among respondents, towards negative issues and challenges faced by the mined diamond industry and majority of respondents may have taken actions which could have reduced their purchasing of mined diamonds including.

The study was conducted between December 26, 2009 and December 31, 2009 and was completed by 1,478 JCOC panel members.

Around 11 percent of the respondents decided not to purchase or request mined diamond jewellery, 8 percent reported to have decided not to gift mined diamond jewellery, 18 percent have told family and friends about the issues and 16 percent said that they search for created diamond alternatives when buying jewellery.

"Clearly consumers are becoming more aware of the challenges faced in the mining of diamonds," said MVI's CEO, Marty Hurwitz when releasing the report, and adds, "it is only natural for the consumer to consider man made alternatives if their concerns about those challenges grow."

The report saw a 50-50 percent response when respondents were asked their choice between a jewellery style with mined diamond and with created diamond alternative, considering both stones sizes being of equal size and brilliance. But if the price points in both types of jewellery were the same, 60 percent respondents said they would select a mined jewellery style. The study revealed an increasing likelihood to purchase created diamond alternative if the price differential between mined diamonds and the created diamond alternative increased.

Only around 25 percent respondents said they would not request or purchase created diamond alternative jewellery no matter what the price differences were. This represents a major decrease compared to past JCOC studies.

After reviewing descriptions of five of the major brands of created diamond alternatives (Apollo, Gemesis, Diamond Nexus, Moissanite, Asha), Apollo and Diamond Nexus received favorable rankings by respondents to the all important category of engagement ring. Diamond Nexus topped all other jewellery category and criteria questions including the most preferred created diamond alternatives for self purchase or gifting, and which brand in created diamond alternative offers the most value for the money.