Millennials are almost twice as likely as non-millennials to have bought diamond jewelry as a holiday gift, according to a survey carried out by the Diamond Producers Association (DPA).
More than a quarter of men gave diamond jewelry to their wife or girlfriend last holiday season, while this year one third said they plan to, according to the DPA, which polled 400 consumers with annual household income of $75,000 or more in an online survey immediately after the Thanksgiving weekend. The respondents were all married or in a committed relationship, aged 18 to 64, and included a “robust sample” of millennials.
“We think that has to do with their desire to do something more personal and intimate,” a DPA spokesperson said in a statement December 21. “This isn’t a generation that thinks gift cards are the best way to treat a loved one. They want to communicate how well they know each other, that they are paying attention.”
Every man who had given, or women who had received, diamond jewelry in the past said it had been the women’s favorite gift, the results showed. Four out of five women kept the gift and didn’t exchange it for another gift or another style.
Millennials and other age groups said this year they’d rather receive one meaningful gift than lots of smaller gifts. The small presents are usually the ones that are returned or forgotten.
Those who didn’t give or receive diamond jewelry often couldn’t remember what last year’s Christmas gift was. One in four men who gave other gifts couldn’t remember what they had given, and one in five women couldn’t remember what they’d received.
“Diamond jewelry is actually a common holiday gift because many men know just how successful they’ll be with it,” the spokesperson added.
Diamond earrings and a diamond ring were the most desired gifts among women of millennial and non-millennial ages. The third most popular for millennials was a diamond solitaire necklace, but the third choice among older-aged respondents was a diamond tennis bracelet.
Only about 10 percent of men say they currently buy diamond jewelry online, but “well over half” research diamond purchases on the internet.