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Millennials ‘Hack’ The Diamond Industry By Finding Cheaper Alternatives And It’s Brilliant
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Millennials ‘Hack’ The Diamond Industry By Finding Cheaper Alternatives And It’s Brilliant

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“Diamonds are a girl’s best friend,” said the iconic Marilyn Monroe, but the millennial generation, apparently, prefer having food on the table and their taxes paid. While everyone seems to blame Generation Y for “killing” industry after industry, when it comes to expensive things like gemstones, it all makes sense. Research shows that millennials tend to marry later in life than their parents and grandparents. They are also more focused on prioritizing their finances, as well as the ethical problems that come from the gemstone industry. And after all, when you look into it, are diamonds really worth it?

Sure, they are extremely hard and durable and have a high dispersion of light which gives them the characteristic “fire” that people seek, but they are also severely overpriced luxury goods. And what or who is to blame for that? Marketing. Back in the 1930s, De Beers started advertising diamonds as ‘a must’ for engagement rings, successfully manipulating consumer demand. While almost universally believed to be extremely rare, and therefore expensive, these white gemstones are actually quite common with an estimate of 26 tonnes produced annually.

It seems like millennials are just catching up and realizing that diamonds are not that special, and this Tumblr thread on cheap jewelry is a great example. So scroll down below to read what people had to say on fake diamonds and tell us what you think.

RELATED:

    This tweet from 2016 questioning why millennials don’t buy diamonds received a lot of attention

    When people of Tumblr got together to answer the question and share advice on gemstones

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    Giedrė Vaičiulaitytė

    Giedrė Vaičiulaitytė

    Author, Community member

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    As a writer and image editor for Bored Panda, Giedrė crafts posts on many different topics to push them to their potential. She's also glad that her Bachelor’s degree in English Philology didn’t go to waste (although collecting dust in the attic could also be considered an achievement of aesthetic value!) Giedrė is an avid fan of cats, photography, and mysteries, and a keen observer of the Internet culture which is what she is most excited to write about. Since she's embarked on her journalistic endeavor, Giedrė has over 600 articles under her belt and hopes for twice as much (fingers crossed - half of them are about cats).

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    Giedrė Vaičiulaitytė

    Giedrė Vaičiulaitytė

    Author, Community member

    As a writer and image editor for Bored Panda, Giedrė crafts posts on many different topics to push them to their potential. She's also glad that her Bachelor’s degree in English Philology didn’t go to waste (although collecting dust in the attic could also be considered an achievement of aesthetic value!) Giedrė is an avid fan of cats, photography, and mysteries, and a keen observer of the Internet culture which is what she is most excited to write about. Since she's embarked on her journalistic endeavor, Giedrė has over 600 articles under her belt and hopes for twice as much (fingers crossed - half of them are about cats).

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    Henri Junkkala
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    Married once, engaged four Times, never a single rock of any kind. No point in making DeBeers any richer, I support local artists ans buy beutiful crafted rings of silver or white gold.

    Suzi Gauthier
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    Don't know why this was downgraded. DeBeers has a murderous history. Many people were enslaved and murdered over diamonds. They are one of the reasons Africa has had so many problems. I'd take a craft ring with my birthstone over a diamond any day.

    Load More Replies...
    Biana Weatherford
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    Because......they want to invest money wiser? Because....status based on a rock isn't cool? Because....horror stories?

    Cherie
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    I think you should get whatever color engagement ring stone you like. My co-worker has a large, midnight-blue sapphire and it is quite lovely.

    Rebekah
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    I totally want a sapphire engagement ring. They are strong and gorgeous.

    Load More Replies...
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    Henri Junkkala
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    Married once, engaged four Times, never a single rock of any kind. No point in making DeBeers any richer, I support local artists ans buy beutiful crafted rings of silver or white gold.

    Suzi Gauthier
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    Don't know why this was downgraded. DeBeers has a murderous history. Many people were enslaved and murdered over diamonds. They are one of the reasons Africa has had so many problems. I'd take a craft ring with my birthstone over a diamond any day.

    Load More Replies...
    Biana Weatherford
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    Because......they want to invest money wiser? Because....status based on a rock isn't cool? Because....horror stories?

    Cherie
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    I think you should get whatever color engagement ring stone you like. My co-worker has a large, midnight-blue sapphire and it is quite lovely.

    Rebekah
    Community Member
    6 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

    I totally want a sapphire engagement ring. They are strong and gorgeous.

    Load More Replies...
    Load More Comments
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