Race to the Bottom? Retailers’ Lab-Grown Doubts – by Joyce Kauf (Rapaport.com – July 30, 2023)


Growing hesitation: Even with increasing sales, store owners remain wary of buying synthetic diamonds for stock.

It’s almost quaint to think back to some retailers’ initial reactions to synthetic diamonds. Fast forward to today, and many report an almost even split between mined and lab-grown when it comes to selling loose stones for bridal.

But the conversation has also shifted to the very real concerns of lab-grown’s plummeting prices and its oversaturation of the market. As a result, retailers walk a fine line between meeting customer demand and buying merchandise that’s losing value.

Client appeal

Successful retailers are always attuned to the pulse of the market. Purchasing a larger synthetic stone at a substantially lower retail price than a natural diamond is an attractive option for customers with limited budgets, as well as those who have more discretionary income.

“It’s a no-brainer. Customers really are excited that they can get a bigger stone,” says Joy Thollot, who cofounded Thollot & Co. Jewelers in Thornton, Colorado, with her husband Troy. “Fewer and fewer people think in terms of resale, especially the younger engaged couple.”

For the rest of this article: https://rapaport.com/magazine-article/race-to-the-bottom-retailers-lab-grown-doubts/?utm_campaign=NewsBrief%20and%20TradeWire&utm_medium=email&_hsmi=271398026&_hsenc=p2ANqtz-8my9ShAEjX7W-Tijr7cWGQWzDtM2MDgMtFsRsElhaZ4LrUbnDV-gYp5BjnPJuhn1tlsotcGztdqc_3W0BTVgHpDldAhEs75N5aCxJnW-X24bwzH9I&utm_content=271398026&utm_source=hs_email