Millennials delaying marriage have sent the diamond industry scrambling. With over 80% market penetration, diamonds are still “an established product” for those considering marriage—the problem is, only 30% of Millennials are married. Other generational challenges include their shifting definition of luxury and status symbols, and environmental and social concerns. Seven of the leading diamond brands have come together for the marketing effort “Real is Rare” to win over the group. The new campaign will launch in the fall, and focuses on Millennials’ desire to for “more meaningful moments in life.” (MediaPost)
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