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In the U.S., lab-grown diamond sales jumped 16% in 2023 from 2022, according to Edahn Golan, an industry analyst. Social media posts show millennials and Generation Zs proudly explaining the purchase of their lab-grown diamonds for sustainability and ethical reasons. Natural diamonds take billions of years to form and are difficult to find, making their price more stable. Globally, lab-grown diamonds are now 5-6% of the market and the traditional industry is not taking it sitting down. It's also still true in more rural areas of the United States, while lab-grown diamonds have taken off more in the cities.
Persons: Bario Neal, Haley Farlow, , Golan, Zs, Farlow, that's, Cupid, Martin Roscheisen, Paul Zimnisky, Zimnisky, It's, Mother Earth, ” Zimnisky, Page Neal, it’s Organizations: PHILADELPHIA, Diamond, Diamond Foundry, telltale, Gemological Institute of America, Mother, Associated Press Locations: Philadelphia, U.S, India, China, Henan, Zhuhai, Na Diamond, HeNan, Ningbo Crysdiam, United States, Wenatchee , Washington, Columbia, AP.org
Cause marketing can help businesses support social causes that align with their values and connect with customers. These experts say cause marketing should be equally balanced with the needs of the business. Cause marketing can include sponsoring events, fundraising, or raising awareness for a social or charitable cause. How cause marketing can benefit small businessesCause marketing can increase brand awareness for businesses and exposure for nonprofits, Conway said. When businesses support causes, it can also improve employee morale and help with hiring and retention, Conway said.
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