Have you ever wondered how much the average engagement ring weighs, or which cut is preferred by consumers? How about the most popular metal for engagement bands and wedding sets? Perhaps you’d like to know what the majority of couples consider to be the most important aspects of selecting their wedding bands, or where they go to get their rings. You can find the answers to these questions and more in the annual Engagement and Wedding Ring Report(conducted by research and forecast company The Wedding Report, Inc.), which compiles data about the marketing and sale of engagement and wedding bands as well as consumer information pertaining to what goes into the selection process.
To address the questions posed above, the average engagement ring weight 1.18 carats, more than half of people who purchase engagement rings select a round cut, and white gold is the most popular metal. In addition, most couples rate design, style, and durability as the most important factors in the selection process and interestingly, most brides and grooms research their rings online, but only about $1 billion out of the estimated $9.64 billion that people spent on rings last year went to online retailers. However, that number is going up every year as e-tailers continue to offer amazing prices along with guarantees of authenticity.
And here are a few other interesting facts that you may relate to. If you don’t really understand how clarity ratings work (or how and why they affect the price of a diamond), you’re not alone. Not only grooms, but also many brides report that they don’t have the foggiest notion what clarity is. And if you decide to personalize your engagement ring or wedding band (say, with an inscription), you are in the minority (only about 24% of couples do this). Here’s another surprise: the fastest growing segment of the engagement and wedding ring market is for men, who it seems have collectively decided that their bands should include diamonds.
Although it’s fun to peruse these statistics and realize that you aren’t the only one looking for a bigger ring, a better cut, or someone to explain how the heck clarity figures into the equation, keep in mind that each couple has to make their own choices concerning engagement and wedding bands based not on what others are doing, but what fits their sensibilities, time frame, and budget. So don’t get hung up on the stats; instead, enjoy the ride with your future spouse and select the rings that are right for you.
