Diamond Engagement Rings To Hit £5 Billion in 5 Years
That’s what the market forecast is for the US alone. It is estimated that even though there is a recession on, the spending on diamond engagement rings has not gone down as some had forecast they would. Instead there seems to be a surge in spending on both engagement rings as well as wedding rings. This is over and above the rise in prices of diamonds and precious metals.
So can we infer that more people are getting engaged or married? Or are more people getting engaged and married more often? Or are they just spending a lot more on their diamond engagement rings, wedding rings and other jewellery as well?
This study was done by The Wedding Report in the US and it states that the expected rise is going to be over 13% in the next five years. It has also predicted that most of the wedding as well as the engagement rings will be set with diamonds and the metal used will be white gold. And some trivia from this study: they found that the most popular month for engagements was December and the most popular day when a man actually popped the question was Saturday.
