Lab Diamonds Target Youth

Create a lab-grown diamond brand focused on education-based marketing targeting younger generations, particularly Gen Z, who are more value-conscious and ethically minded than previous generations.

Key Points:

• Market Opportunity:

  • Lab-grown diamonds are identical to mined diamonds in composition
  • Cost 30-40% of traditional diamonds
  • 70% of millennials are open to lab-grown diamonds
  • Market share hasn't caught up with consumer sentiment yet

• Education-First Approach:

  • Focus on teaching consumers about lab-grown diamonds
  • Emphasize identical material composition
  • Highlight ethical advantages over mined diamonds
  • Build trust through transparency

• Target Market:

  • Primary focus on Generation Z
  • Secondary focus on millennials
  • Appeal to their:
    • Strong "bullshit detector"
    • Political correctness
    • Value consciousness
    • Ethical considerations

• Timing:

  • 10-year horizon as Generation Z enters marriage age
  • Current millennials mostly conform to traditional diamond expectations
  • Next generation more likely to embrace alternative options

• Competitive Advantage:

  • First-mover advantage in education-based approach
  • Build brand trust through transparency
  • Capture customers through education before purchase decision