When Anne Fulenwider, the Editor in Chief of Marie Claire, received the ACE Media Award on behalf of Marie Claire at the Accessories Council’s Award Ceremony said:

“Today nearly half the work force is comprised of women. Do you know what that means? That means women aren’t waiting around for men to give them little boxes! They’re buying them for themselves. And they are wearing those statement pieces and handbags and shoes like the Olympic medals that they’ve been earned. And when you earn something, you prize it, you delight in it, you savor it.”

I would put my sign under this statement.

And luckily, De Beers’s 2017 Diamond Insight Report confirms this as a fact!

Women even started buying their own engagement rings as they gained power, position and money in the workforce!

Let's look at 3 key trends which have direct effect on how and why people buy diamond jewelry:

1. "That moment" in a women's life is not the one when she gets a wedding proposal with a diamond ring anymore. Research shows that married women buy more diamond jewelry for themselves than single women.The most popular type of jewelry they purchase is the ring, followed by earrings.Alongside traditional relationship milestones, diamond jewelry is increasingly being bought to celebrate occasions such as a new job, a promotion or personal achievements.

2. Women’s increased economic participation and higher salary led to a growth in number of women purchasing diamond jewelry for themselves. More than a quarter of women’s diamond jewelry was bought in 2016 by each of the four main consumer nations (the US, China, Japan and India), representing more than 18 billion USD in value, was acquired through the self-purchase route. In Hong Kong, female self-purchase accounts count for the majority of diamond jewelry sales.

3. A new perception of femininity is emerging that is more closely associated with strength and confidence, alongside more traditional attributes such as caring and nurturing. This is leading to diamonds being purchased to symbolize a wider range of emotions, such as joy, optimism and pride and to the emergence of a new class of consumer: the mature single woman. Meanwhile, feminine success is increasingly being defined through qualities such as; uniqueness and personal meaningfulness and there is an enhanced focus on the importance of experiences, leading to greater interest in purchases that can reflect these characteristics.

"In centuries past, diamonds were viewed as the preserve of masculinity, representing strength and the immutability of power.
As the years passed, they increasingly became seen as symbols of romantic love, usually gifted by men to women.

However, while much more still needs to be done to correct the balance on gender inequality, women now occupy a much wider range of roles in society and more senior positions in the workplace. They have a more powerful voice and command a higher share of global spending than ever before. And the trend towards greater female empowerment is only set to grow further."

says De Beers Group CEO; Bruce Cleaver.

Thanks for the report De Beers!