4 Insights on the Importance of Third-Party Verification

New York—It’s not just gems and jewelry; consumers today are demanding to know more about the origin of all the products they buy and their paths to market.

Consumers are also increasingly putting their trust in independent third-party verification of product claims, a new survey shows.

MVI Marketing recently conducted a survey to understand the importance to jewelry buyers of independent third-party verification on claims of social and environmental impact or country of origin by diamond manufacturers, brands and retailers.

It polled 1,506 people in the United States and Canada, all of whom had purchased or received fine jewelry within the past year.

Here are four insights gleaned from the survey’s results.

1. Knowledge of social and environmental responsibility and country of origin claims affects purchasing decisions.

When asked how often they make a purchase because the product claims to be “environmentally friendly,” 42 percent of survey-takers said “very frequently,” while 45 percent said “somewhat frequently.”

A total of 40 percent indicated they make purchases “very frequently” when a product claims to be made with recycled material. Thirty-eight said the same for organic products while 29 percent buy “very frequently” when a product claims to be fair trade.

Those who purchase “somewhat frequently” are at 45 percent for recycled material, 38 percent for organic and 43 percent for fair trade.

Survey-takers were also asked to rank which information, other than price, is most important for them to know prior to purchasing diamond jewelry.

At No. 1, not surprisingly, was the 4Cs, followed by a grading report and the reputation of the diamond or jewelry brand.

Following at No. 4 is knowledge that a diamond has been mined using socially and environmentally responsible methods.

No. 5 is the retailer’s reputation, and at No. 6 is that a lab-grown diamond has been created using socially and environmentally sustainable methods.

Falling at No. 7 is whether the diamond is lab-grown or mined and at No. 8 is its country of origin.

What’s more, when asked if knowing that a lab or mine has an adverse social and/or environmental impact would affect their purchase, 47 percent said yes, they would not buy that product, while 30 percent said it would “somewhat affect” their decision.

On the flip side, survey-takers were asked if they would be swayed to buy a piece of diamond jewelry knowing the lab or mine has a