(rapaport.com) - They have high expectations, little money, and quite a few contradictions. Tempted by lab-grown diamonds’ affordability and sustainability claims, can this generation fall in love with natural diamonds? The future of every business depends on the next generation. Gen Z, the cohort of consumers born between the late-1990s and 2012, is set to earn $33 trillion of income by 2030 and overtake millennials’ spending power by 2031, according to the Bank of America. Moreover, research by consultancy Bain & Company revealed that Gen-Zers make their first luxury purchase when they are 15, while their 30-somethings counterparts began at 19. Gen Z seems to have high expectations, many questions, little cash — and quite a few contradictions.
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