U.S. study: natural diamonds remain top luxury jewelry choice
Natural diamond jewelry kept the luxury lead, with 11% of U.S. women ranking it first and average purchase values climbing to $4,063.
Natural diamonds kept their hold on the U.S. luxury market, even as lab-grown stones continued to carve out a separate lane. In De Beers Group’s latest U.S. Diamond Acquisition Study, 11% of women named natural diamond jewelry their top luxury gift, ahead of 8% for synthetic lab-grown diamonds, 5% for other gemstones and 4% for plain gold jewelry.
The numbers point to a shopper who is spending more, and buying bigger. The study, based on 18,500 women ages 18 to 74 across the United States, found that average spending on a natural diamond purchase rose 25% to $4,063 in 2025 from $3,242 in 2023. Average stone size also moved up, from 1.65 carats to 1.86 carats, while the natural-diamond acquisition rate edged higher to 9% from 8% two years earlier.
Gen Z is now central to that story. De Beers said younger women have become the second-largest generation buying diamonds, and they are spending nearly as much as many legacy luxury customers expect of a bridal buyer. Gen Z women spent an average of $4,080 per natural-diamond purchase, compared with $2,250 for baby boomers. That gap suggests the category is no longer defined only by milestone rings or inherited taste, but by a younger shopper willing to pay for scale, sparkle and personal meaning.
The clearest shift is away from the engagement counter. Bridal purchases accounted for just 25% of U.S. natural-diamond demand, meaning three-quarters of demand came from non-bridal occasions. Within that, gifting made up 44% of sales and self-purchases 31%, a retail mix that rewards stores able to sell beyond the proposal. For jewelers, that means more attention to pieces that work as presents and personal rewards, and less dependence on a single life event to drive volume.
That premium positioning still matters at the counter. Independent U.S. jewellers’ diamond sales value was 85% natural diamonds in 2025, compared with 15% for lab-grown stones, underscoring a market split that has become increasingly visible: lab-grown diamonds dominate the value conversation at the lower end, while natural stones continue to anchor higher-ticket sales. De Beers’ findings suggest the strongest opportunity now lies where sentiment, size and spend intersect, in natural diamond jewelry that feels less like a category and more like a declaration.
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