Why Moissanite Engagement Rings are the Top Choice for Millenial Couples

August 17, 2022


In the past few years, Australia has witnessed a dramatic shift in the spending behaviours of the millennial generation. With a rise in the cost of living in Australian cities, millennials are now spending much less than they did before. According to a report released by insurance firm Allianz, millennials are forking out much less than their parents for things like engagement rings.

The report found that millennials now prefer coloured gemstones or diamond alternative options, over diamonds. Not only are coloured gemstones and diamond alternatives cheaper than diamonds, but a wide range of styles and sizes become accessible which brings about a certain amount of individuality and flexibility in their engagement ring choice.

Non Diamond Alternative: Millenial Couples prefer alternative gemstones for their engagement ring

moissanite engagement rings
moissanite rings

Australians are ditching diamonds in favour of alternative and more unique gemstones for their engagement rings. According to a recent survey the average Australians are spending on engagement rings is around AUD $6,000.

Couples are opting for relatively less expensive diamond alternatives such as Emeralds, Sapphires, and Moissanite in particular. They are effectively breaking away from the traditional approach of spending a fortune on engagement rings and no longer

spending on upwards of over $10,000+.

Moissanite: The rising popularity of Moissanite Engagement Rings in Australia

Diamonds still account for nearly 41% of overall retail jewellery sales; however, in recent years, millennial couples are increasingly opting for other gemstones for their engagement and wedding rings.

Moissanite gemstone is one such popular gemstone and diamond alternative Australian’s are increasingly learning about and seeking out for an engagement ring option.

Pinterest’s Wedding Trends Report, 2018 found Moissanite is one of the hottest wedding trends, with searches for Moissanite gems up 294%.

Recommended Video to Watch: Comparison Video — What is Moissanite and how does it compare to Diamond?

Recommended Reading: How to Choose between a Moissanite and Diamond Engagement Ring

What Makes Moissanite So Popular

Moissanite owes its rising popularity to several factors including price, durability, colour, and brilliance. However, millennials — representing over 35% of the Australian workforce — are showing interest in this rare gemstone for ethical reasons as well.

The Cost of Moissanite Rings:

Many years ago, people would associate diamonds with engagement rings largely due to powerful marketing campaigns by well-known diamond company, De’Beers, and, of course, due to its artistic beauty.

However, the millennial generation are breaking away from this tradition and making a financially smarter choice by opting for Moissanite, without compromising on the quality, authenticity and substance of their engagement rings.

One of the main reasons why couples are not going with the diamond rings is their huge price tag. Picture this: a one carat diamond ring might set you back AUD $10,000+ while a Moissanite gemstone ring of the same size would cost only $2,300 – $2,500.

Recommended Reading: How to Choose between a Moissanite and Diamond Engagement Ring

However, the price point is not the only reason Australian’s are choosing Moissanite engagement rings.

With any possible worry of stigma being associated with buying “diamond alternative gemstones” fast disappearing from consumers minds, the idea of splurging a fortune on diamond rings is increasingly becoming less appealing to the millennials. They’re happily gravitating towards the world’s closest gemstone to standard diamonds, being moissanite gemstone at a fraction of the cost with lifetime brilliance and durability.

Moreover, Moissanite rings offer couples a much more extensive array of design options to choose from, with their available budget — including larger size centre stones, more accent stones and so on.

Diamond-Like Appearance of Moissanite Rings:

Aside from the affordability factor, what also makes Moissanite rings popular are their diamond-like appearance and lifetime durability and brilliance. While there are many alternatives to diamonds, none come close to Moissanite. In fact, the only way you

can really tell the difference between moissanite and diamond is with a professional moissanite tester or specialised piece of equipment. So whether it’s about sparkle, brilliance or durability, Moissanite is considered the best alternative to diamond compared to any other gemstone for all three reasons.

As a matter of fact, with a higher score on the refractive index (2.64-2.69), than diamonds, Moissanite has more sparkle than a diamond. Additionally, Moissanite has more fire (flash) than diamond due to its double refraction.

Contrary to popular misconceptions, Moissanite is not an imitation of a diamond OR a fake diamond— it’s actually an alternative real gemstone that looks very similar to a diamond.

Environmental-friendly and Ethically Sourced:

These days, couples starting a new life together tend to be more conscious of allocating available funds to things like property, and building a home together rather than blowing it all on an engagement ring. They are also increasingly becoming environmentally and ethically-sensitive, which further guides their choices when it comes to selecting an engagement ring in Australia.

Unlike some earth-mined diamonds, which are procured by mining companies, employing unscrupulous practices, Moissanite is ethically grown in labs particularly due to it being extremely rare in its natural form. Therefore any moissanite jewellery you find in any jewellery stores will always be lab grown. Forever Chic Jewellery, Australian based fine jewellery store, specialises in very high quality moissanite gemstone, that is grown in identical conditions and composition as it’s formed in nature making it a real, genuine gemstone. This makes this precious gemstone an environmentally-friendly option for engagement rings and the ideal choice for those looking for ethically-sourced jewellery.

Moissanite is Extremely Durable:

As a standard practice, gemstones are measured on the Mohs Scale of hardness when it comes to assessing it for durability. It also refers to a gemstone’s ability to withstand surface scratching or damage. The higher the score, the more durable a gemstone is.

Diamonds are the hardest mineral on earth with a Mohs Scale score of 10. Moissanite also has a pretty impressive score of 9.25 – 9.50, which makes it one of the most durable engagement ring options available. Moreover, engagement and wedding rings centred with Moissanite gemstone are resistant to scratching, breaking and chipping.

This, combined with a high-quality cutting system such as that of Forever Chic Jewellery, will give you the ideal engagement ring option in terms of durability and sparkle.

Recommended Reading: Does Moissanite Lose its Sparkle & Will It Last Over Time

Final Words

A precious, unique and eco-conscious (non-diamond) gemstone in its own right, Moissanite is reported to have more fire, brilliance and lustre than any other gemstone while being the best diamond-alternative and wallet-friendly option for millennial couples in Australia. More and more Australians are opting for relatively less expensive non diamond engagement rings

such as Moissanite and breaking away from the traditional approach of spending a fortune on a ring.

At Forever Chic Jewellery, we take great pride in creating the very best in custom fine jewellery designs perfectly priced and tailored to you with consistent 5-star rated service. We have a particular focus on moissanite engagement rings Australia wide. Ranging from classic moissanite solitaire ring settings, to 3-stone engagement ring styles to popular moissanite halo ring designs, view our recent moissanite ring collections here or request a custom ring unique to you (at no additional service fee). 

moissanite rings