Lab-grown diamonds now dominate engagement rings for the first time

Lab-grown diamonds now dominate engagement rings for the first time ever.⁠
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More than half of couples are choosing lab-grown stones, driven by lower prices and the ability to get larger diamonds, pushing average ring costs down to about $5,200 and forcing natural diamond players to cut prices to stay competitive.⁠
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The shift is being led by younger buyers who prioritize value over tradition, and while lab-grown diamonds are often marketed as sustainable, cost and size remain the real drivers of the category’s rapid growth.⁠
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(via Fortune)