Aspiration and fashion go hand in hand for the youth today. In a social media-centric lifestyle, millennials and Gen Z in particular are extremely conscious about flaunting memorable moments of their lives. Thus, they perceive the larger category of jewellery and gemstones differently than past generations.
Jewellery retailers the world over are taking note of experiments their youngest customer base is seeking. They don’t want to flaunt price tags with gemstones, instead want jewellery to go with their changing moods. Likewise, they seek new colours that stoke their aspirations and have been very fond of Australian sapphires. Indeed a good choice, the mysterious colours of this gemstone category excite everyone across the value chain.
Women prefer Australian sapphires to other stones: MVEye survey
Exploring the market appetite for Australian sapphires, FURA Gems had conducted a marketing survey in Texas with MVEye. The survey comprised participants both from the jewellery trade and consumers. The findings convey that 46% of consumers liked sapphires the most, followed by rubies and emeralds (41 percent) and amethyst (35 percent). Strengthening the popularity of sapphires was another startling revelation regarding its colour. Consumers loved the darkest shade of the blue sapphire the most, followed by the medium and lighter shades.
The United States is extremely fond of Australian sapphires now. Researches indicate an inclination of the millennial American women towards personalization of jewellery, a need that the gemstone fulfills easily.
Australian sapphires have also become a rage back in their homeland since 2018. There has been a demand rush for Australian sapphires for millennials and Gen Z customers, claims Amelia Chafer, marketing manager of Coolamon Sapphires, Australia told Jeweller Magazine. Their penchant for adventure relates with the extravagance of Australian sapphires, making them go for the stone for their engagement rings, as rightly pointed out by Simon West, another reputed jeweller from Melbourne.
Why does Gen Z fall for Australian sapphires?
Australian sapphires identify themselves because of their rich, dark colour. There are certain obvious reasons why Gen Z feels so comfortable with this gemstone. To start with, Australian sapphires are priced far reasonably than a diamond of the same carat. A price-conscious millennial would almost always pick an Australian sapphire for its reasonable pricing and limitless beauty. Little wonder that the gemstone is guaranteeing a faster customer conversion rate to progressive retail brands.
Beautiful colours also signify uniqueness. The market is flooded with crystal-clear diamonds and while it keeps having the following it deserves, the tendency to stand out from the crowd is intrinsic among millennials. They love to be different and would never mind their appearances to be as edgy or as classy as they can. The refreshing variety of colours coming straight out of the mines of Australia satisfy their urges just right. Truth be told, they can even flaunt a ravishing stone called a parti sapphire that exudes blue, green and yellow hues simultaneously. That visual brilliance in itself seals the deal for lovers of gemstone across that age group which is truly versatile.
The youth today is born to multitask and are responsible to the core. Every service they use and/or provide is foolproof and verified. Pampering themselves with jewellery, they expect their priceless stones to be responsibly sourced. Thus, provenance is one of the most important factors beside appearance and price for them to pick their favourite gemstone without hesitation.
Forming a steady market for Australian sapphires
Australian sapphires mining industry dominated the global sapphire production decades before. After oversupply killed the sapphire demand, there were no efforts made to streamline Australian mining operations to truly revamp the gemstone’s global market position.
On the other hand, the aspirational urges of the middle class started inclining towards gemstone luxury. As couples sought affordable alternatives to diamonds in the jewellery market, the dormant reserve of Australian sapphires became the best place for FURA Gems to start a category with.
This led the mining brand explore the historic mines of Capricorn Sapphire and Great Northern Mining in Australia. Right after acquisition, the FURA team compiled geological data of one of those mines to give an estimated sapphire reserve to last over three decades from now.
FURA Gems is the first country to assure the supply of Australian sapphires across all sizes and price points. Helping jewellers surpass design and product goals with a steady supply of Australian sapphires, the mining brand aims to hit 10 million carats of Australian sapphires in the next three years.
Guaranteeing ethical sourcing of the priceless Australian sapphires, FURA Gems is striving for a chain of custody program for total transparency; a first ever for a color gemstone category. This will allow every stakeholder, including consumers, to trace the source of every gemstone and rest assure with a mine of origin certificate that guarantees the stone to be an inimitable Australian sapphire.
Thankfully, Australian mining culture aligns with FURA’s mission of becoming a pro-transparency gemstone mining brand. Local laws have always prioritized eco-consciousness and harmless mining procedures to yield. This attitude favours the future of Australian sapphires and the environment in equal measure. Ticking all those boxes, FURA Gems is upbeat about making the wondrous colours of Australian sapphires grace the global market soon.
Courtesy: Retail Jeweller World News