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News

How many American consumers are investing in engagement rings?

  • Author:CharleneXu
  • Source:Yadao
  • Release on :2017-02-21

The average price for engagement ring has exceeded the mark of $6,000 in The Knot real weddings survey 2016, while The wedding report says that it is more like $3 407. The photo is a ring from the collection "Lori" Kirk Kara ($ 4,340 in Platinum, $3050 18karátovým gold, outside the center of stone).

New York--it doesn't matter which messages you put more shares, this is good news for jewellers: average amount of money consumers spend on their engagement ring in the U.S. continues to grow.

Recently, the wedding planning Web site the Knot, they released the results of its study, the actual wedding, 2016, in which the company surveyed some 13 000 pairs, who took last year to map out financial spending and trends of real weddings in America.

As regards the cost of the engagement ring, the survey found that the average spending in the U.S. increased from $5.871 average in 2015, $6.163 last year, an increase of 5 percent.

Node said in a press release that the Respondents represent different ethnicities and educational and income levels, and are geographically dispersed across the country. But the company did not respond to a request for more information about the demographics of the survey at the time of printing.

The node is drawn from its own membership for exploration.

Meanwhile, The wedding Report, a research company that tracks and forecasts of expenditure in the wedding has released another set of numbers, says that the average amount consumers spent on their engagement ring rose slightly last year, from $3.386 in 2015 to $3 407 in 2016.

The report also States that spend on a wedding band is down slightly declining less than 1% to $1.242.

Wedding report is based on a geographically and demographically diverse clientele, including several ethnic groups, education levels, occupations, income levels, types of marriage and number of participants 16 and more, even if the specific demographics of participants have not been put into the national jeweler.

A survey of The node and the data of The wedding Report also found that the average cost of weddings is increasing.

According to The Knot real weddings 2016 study, the average cost has reached highs at $35.329, up from $32.641 in 2015.

Wedding report data showed an increase, which was less pronounced and less total overall, out of $26.645 in 2015 to $26.720 last year.

Not surprisingly the most expensive places to get married in the country is Manhattan, where couples spend a whopping $78.464 on average on their big day, according to the Knot.

In fact, four of the five most expensive locations across the country, is located in the Metro New York: Manhattan, Long Iceland, Northern and Central New Jersey and the outer boroughs of New York City. Coming in at fifth on the list was the other big metro area Chicago.

So, what's behind the increase in the cost of a wedding these days?

Node found that couples are giving greater emphasis on their business experiences in action. Are decreasing the number of guests, but spend more for an overall rating as a bride and groom are intended to provide customized entertainment and special equipment.

Spend on your own entertainment of the guests more than tripled from 11 per cent in 2009 to 41 percent last year, photo booths, games, musical performances and Fireworks, the climax, said wick.