Chain hopes to appeal to millennials
By Duncan Fingarson, Contributor
Spence Diamonds is the most recent addition to a long list of companies that are adopting new strategies in the face of a changing marketplace. Spence, which mostly sells engagement rings and other diamond jewelry, has been hit hard by what some are calling the âMillennial Crisis.â In an effort to recapture the millennial demographic, Spence has now introduced a new line of organic, fair trade, locally sourced, free-range, gluten-free diamonds.
âItâs an established fact that millennials arenât buying as many diamonds,â Spence spokesperson, Spencer Spencington, said when contacted by the Other Press for further details on the new product line. âWeâre really not sure whyâthey probably blew all their money on avocado toast, or something. Who wouldnât want diamonds? Theyâre really shiny; everyone loves shiny things.â
Similar to the marketing campaign for lab-grown diamonds to be framed as âArtisan-created,â the new diamonds are reportedly âno different, except bigger, and also happier.â The new diamonds are âhatched from diamond eggs, and allowed to roam free,â according to Spencington.
âWe have the first and only free-range diamond ranch in the Lower Mainland,â Spencington continued. âWeâre trying to keep it local and in line with our values of offering what people really want. Weâre also very active in maintaining a truly organic and natural process. Other diamond companies keep their diamonds locked in tiny cages around the clockâthey never get to see the light of day, or feel the grass under their incredibly sparkly feet. You wonât find any of that here.â
The Other Press had the opportunity to visit Spenceâs new diamond ranch, and can confirm that everything Spencington said is true, and not at all a marketing scheme. The diamonds are, as reported, very large, and incredibly sparkly. There is plenty of room for them to roam, and they seem much happier than the diamonds commonly seen confined to tiny glass cages in jewelry stores.
âItâs heartbreaking, what they do in those stores,â local jewelry shopper Crystal Miner told reporters. âAll those poor diamonds, stuck behind glass like that. I havenât seen Spenceâs ranch, but Iâm sure itâs totally legit. In the future, Iâll make sure to buy all my diamonds from them. I hear theyâre gluten-free, too, and you just canât say that about other diamonds.â
As the initiative is still new, it remains to be seen how millennials will react. The new, free-range, gluten-free diamonds are not actually less expensive than current options, just substantially larger. There remains some concerns that spending huge amounts of money on sparkly rocks that arenât very rare to begin with canât be justified in the face of rising costs of living. On the other hand, the rocks are very sparkly.