VICENZA, Italy, September 4, 2016 – Millennials are a key priority for diamond jewellery marketing as their attitudes to consumption are in sharp contrast to Baby Boomer and Generation X consumers.
Millennials, the most educated and best informed generation of consumers in history, who now represent around a quarter of the world’s population, are seen as more focused on experiences than owning luxury goods, which creates a set of fresh challenges for marketing diamond jewellery.
The Diamond Producers’ Association (DPA) has created a film to support its “Real is Rare” message, presented at a well-attended seminar about marketing to millennials at the September edition of gold jewellery fair VICENZAORO. The campaign is expected to be rolled out around October 2016.
“It’s about creating an emotional connection,” said Jean-Marc Lieberherr, CEO of the DPA.
Speakers said diamond jewellery faced stiff competition from experiences such as foreign travel, and from high tech electronic devices.
Jeweller Roberto Coin said he had launched a diamond jewellery range for young children, which he believed would help capture the market as they grew into teenagers and young adults.