WHITELOGO

Blog

Focus on

DIAMOND JEWELRY

AMERICA’S LEADING MATRIMONIAL PUBLICATION PREDICTS MORE WEDDINGS AND ENGAGEMENT JEWELRY IN 2021

 

Although the COVID pandemic is still raging in the United States, the country’s leading matrimonial publication expects the number of wedding that actually take place in 2021 to tick up. According to the The Knot’s 2020 Jewelry & Engagement Study, the November through February proposal season, which evidently is the most popular time of the year for couples to get engaged, is off to a strong start.

The study of more than 5,000 newly engaged individuals, who became engaged between April and November 2020, found that COVID-19 placed additional pressure on proposers—including limited ability to shop in person for engagement jewelry.

Some 83 percent of proposers said they felt pressure to curate a highly unique proposal in 2020, up from 75 percent in 2019, and nearly half of proposers had to pivot original plans as a result of the pandemic, from changing the location, according to 67 percent; date, according to 63 percent; or whether loved ones could attend, according to 52 percent.

The study also found the pandemic accelerated a reliance on technology throughout every stage of proposal planning, whether by asking for a family member’s blessing via video chat, conversing with jewelers through online chat boxes or video conferencing platforms when shopping for an engagement ring, or connecting with loved ones for virtual post-proposal celebrations.

ONE THIRD OF ENGAGEMENT RINGS PURCHASED ONLINE IN 2020

With technology playing an important role in everyday life for Millennials and Gen Zers—in fact, 1 in 4 newly engaged couples met on dating apps, making it the most popular way of meeting—it’s no surprise they’ve increasingly relied on digital resources in recent years for proposal and wedding planning needs. This was particularly the case when shopping for an engagement ring.

Many proposers used more online features throughout the process due to COVID-19, whether by increasing the amount of time spent researching engagement rings online (33 percent), connecting with jewelers via social media (11 percent), or even using virtual tools for online consultations with jewelers (10 percent).

As a result, nearly a third of engagement rings were purchased online in 2020, though 63 percent continue to be purchased in person at either a local jeweler (51 percent) or national retailer (33 percent).

Due to social distancing guidelines and limited in-store appointments, however, proposers visited less retailers in 2020 – on average two, down from three in 2019 – and viewed significantly fewer rings (eight, down from 15 in 2019), before selecting the one. But, according to The Knot study, the pandemic did not impact engagement ring spend for 86 percent of to-be-weds. In fact, it resulted in minimal change to the national average cost of an engagement ring in 2020  – $5,500, compared to $5,900 in 2019.

Engagement ring shopping in 2020 continued to be a two-person job for most couples, with 72 percent of proposees reported being involved in the selection of their engagement ring.

Unsurprisingly, the most popular center stone cuts were rounds at 43 percent, princess/square cuts at 13 percent, and oval cuts as 15 percent. The average centering size was 1.3 percent, with average total diamond content per ring being 1.5 carats.

White gold settings were preferred by 48 percent of respondents, yellow gold by 16 percent, rose gold by 13 percent and platinum by 13 percent.

TIME IN QUARANTINE TOGETHER LEADS TO MARRIAGE DECISIONS

Regarding the year ahead, The Knot study found newly engaged couples have experienced an increased sense of urgency to kick-start wedding planning. Eight in 10 newly engaged couples have secured an upcoming wedding date.

“Despite challenging times and changes to many original proposal plans due to COVID-19, couples around the nation continued to strengthen and progress their relationships, showcasing how even in the most challenging times love cannot be canceled,” said Kristen Maxwell Cooper, editor in chief of The Knot. “Like fellow newly engaged couples, individuals planning to propose this proposal season may also need to be flexible with their plans in order to accommodate shifting pandemic conditions and local regulations. However, this will not deter them from declaring their love in a special way and curating intimate, unique moments to ask their partner to spend forever together.”

One silver lining of the pandemic is that it offered many couples an additional chance to connect, as quarantine restrictions resulted in the majority of newly engaged couples spending more time together. Evidently, the additional quarantine time together encouraged couples to think more about the future, including their wedding.

SEARCH DIAMONDS
Search