Research Symposium

BIO

I am a second-year biochemistry student on the pre-med track from Bloomington, Indiana, aspiring to become a sports-medicine physician with a focus on collegiate or high school athletics. I participated in FSU’s first-year abroad program in Valencia, Spain, and Florence, Italy, and served as a Fundraising Development Captain for FSU Dance Marathon.

Naturally Mined Diamonds Versus. Lab-Grown ones: Consumer Attitudes, Motivations and the role of Sustainability

Abstract

Lab-grown diamonds (LGDs) are synthetic diamonds that exhibit the same optical, chemical, and physical properties as their naturally mined counterparts. LGDs have gained a significant presence in the diamond jewelry industry, creating new opportunities for researchers and entrepreneurs. Additionally, LGDs offer a more ethical and sustainable alternative to mined diamonds, a factor that has driven consumer interest, particularly since the term "blood diamonds" emerged. Our research seeks to identify what influences consumer motivations and perceptions when it comes to naturally mined diamonds, lab grown diamonds and precious gemstones. The study employs a photovoice focus group procedure as part of preliminary research to gauge consumer perceptions in the US and Pakistan. Findings suggest that consumers in Pakistan are more price-sensitive compared to those in the US and purchases of lab-grown diamonds are considered cost-feasible. However, no motivations pertaining to sustainability are exhibited. Although consumers do acknowledge and display a positive attitude towards sustainable consumption of diamonds (lab-grown), this may not necessarily translate to behavioral manifestations. In the US, consumers are not particularly inclined towards lab-grown diamonds for special occasions like Valentines, engagement or for wedding bands due to intrinsic sentimental value. However, for all other purchases, there is a thriving positive attitude towards lab-grown diamonds and greater sustainability across the value chain. Study findings have major corporate and theoretical implications for the global diamond industry provided that current research on the subject is extremely scant.

Keywords: lab-grown diamonds, sustainability, consumer motivations, blood diamonds