Have you ever wanted to know what your fellow couple are doing and spending on their wedding? Well, here are the latest statistics from the Engagement and Wedding Ring Report 2011. Where do you fit in these?
- In 2010, brides and grooms spent $9.64 billion on engagement rings and wedding bands
- Just over $1 billion of the $9.64 billion was spent online
- Most couples purchase their engagement and wedding rings from large local (national chain) jewelers
- Other or Local (independent) jewelers make up the majority of the total market
- Diamond use for groom wedding bands saw the biggest increase in demand
- Engagement ring average carat weight is 1.18
- The diamond shape “Round” makes up more than half of what consumers want
- When it comes to diamond clarity many brides and grooms simply don’t know what it is
- White gold continues to be the most popular metal choice
- 26.3% of couples said they personalize or customize their engagement ring and wedding bands
- When it comes to engagement rings and wedding bands, brides and grooms say that durability, design and style are most important
- The bride and groom pay for more than 95% of the cost of the engagement ring and wedding bands (I’m wondering who pays the remaining 5%?)
- The prime timeframe appears to be at least 6 months plus for both researching and paying for the engagement ring and wedding bands
- By far, most couples use Internet search engines to research their engagement ring and wedding bands
What do you think? Do you agree?