Connect with us

Headlines

Average Engagement Ring Spend Surges 56%, Survey Finds

The typical spend in 2018 was $7,829, according to a Brides magazine survey.

mm

Published

on

THE AMOUNT BRIDAL COUPLES spent on their engagement rings surged nearly 56 percent in 2018, according to Brides‘ American Wedding Study. The surprising climb — from $5,023 in 2017 to $7,829 in 2018 — may reflect a demand for more ornate setting styles and larger center stones.

The engagement ring stats were part of a broad-based survey that also revealed the cost of an average wedding zoomed to an all-time high of $44,105, as more and more couples sought new ways to personalize and extend their celebrations.

Podcast: This Diamond Heist Simply Didn’t Make the Grade
Over the Counter

Podcast: This Diamond Heist Simply Didn’t Make the Grade

Podcast: Doug Meadows Shares the Ups and Downs of His Life as a Jeweler
JimmyCast

Podcast: Doug Meadows Shares the Ups and Downs of His Life as a Jeweler

Podcast: Against the Odds, a High School Student Fights to Keep the Family Jewelry Store Alive
Over the Counter

Podcast: Against the Odds, a High School Student Fights to Keep the Family Jewelry Store Alive

Brides’ 2018 survey was designed to reveal key insights into the latest trends, behaviors and spending habits for weddings in America, based on responses from 850 brides-to-be or newly married women.

The Knot, which usually publishes its bridal survey at the end of February, reported in 2018 that the average spent on an engagement ring in 2017 was $5,764, down slightly from $6,163 in 2016. It will be interesting to see if The Knot’s new stats will reflect startling upward movement, as well.

“Spending is way up across categories, proving that while couples are doing things their own way, they are still prioritizing celebrating their marriage,” said Lisa Gooder, executive director, Brides. “More than ever, couples are savoring the whole process, from engagement to honeymoon and beyond, by celebrating with more events, trips, and professional photos or videos to capture the moments.”

The Brides report emphasized these emerging trends: In 2018, 9 percent of couples took a wedding-moon (pre-wedding trip) together; 31 percent hosted multi-day wedding weekends (up from 20 percent in 2017); 39 percent had a post-reception after-party (up from 20 percent in 2017); and 14 percent of brides wore a second look for their after-party (up from 7 percent in 2017).

Advertisement

Here’s how the 2018 American Wedding Study breaks down the expenditures for an average wedding:

  • Catering: $12,242
  • Reception: $9,764
  • Engagement ring(s): $7,829
  • Photography: $3,133
  • Rentals: $2,920
  • Rehearsal dinner: $2,775
  • Flowers: $2,629
  • Wedding planner fees: $2,481
  • Reception music: $2,380
  • Dress: $2,260
  • Videography: $2,180
  • Wedding ring(s): $1,890
  • Post-wedding brunch: $1,503
  • After-party: $1,325
  • Wedding day transportation: $1,275
  • Other decor: $1,183
  • Day-of-wedding beauty for bride and bridal party: $944
  • Invitations, announcements, thank-you cards, etc.: $917
  • Ceremony: $651
  • Groom’s attire: $602
  • Cake: $547
  • Favors: $422
  • Gifts to bridesmaids: $419
  • Gifts to parents: $386
  • Veil: $316

KEY FINDINGS

  • Average age of bride: 28
  • Average age of partner: 29
  • Average number of bridal attendants: 5.4
  • Average number of groomsmen: 5.3
  • September and October are the most popular months to get married (32%).
  • The majority of couples get married on Saturday (68%), followed by Friday (16%), and Sunday (9%).
  • Average number of guests: 167
  • 83% of brides opted for a white/off-white wedding dress (down from 92% in 2017).
  • 17% of couples have a destination wedding.
  • 97% of brides say their fiancé is involved in planning the wedding, and of those, 36% are very involved.
  • Although 92% set a budget (vs. 90% in 2017), 45% of those who do spend more than they planned (vs. 34% in 2017).
  • 87% of couples went on a honeymoon/mini-moon, up from 77% in 2017.
  • More couples are taking engagement photos than ever, up to 80% from 66% in 2017.
  • More couples are having a post-wedding brunch; 41% vs. 31% in 2017.
  • Engagement parties are on the rise, with 38% of couples saying they had one, up from 32% in 2017.
  • 28% of couples got engaged on a holiday or special occasion, up from 12% in 2017.
  • December has the most engagements at 14%.

SOCIAL MEDIA

  • 23% met their partner on social media, through a dating app, or an online dating site.
  • 82% report using social media to find inspiration/their wedding style.
  • 87% of brides report using Pinterest as an inspiration source for their wedding.
  • 76% of brides report using Instagram as an inspiration source for their wedding.
  • 20% of brides report using Facebook as an inspiration source for their wedding.
  • 70% use social media to find and follow vendors.
  • 60% follow wedding brands/products they’ve already purchased/booked.
  • 57% search social media by hashtag to view photos of other weddings (up from 37% in 2017).
  • 48% use social media to purchase items for the wedding (bridesmaids dresses, invitations, beauty products, etc.).
  • 46% post photos/updates/stories throughout the planning process (up from 40% in 2017).
  • 54% of brides say most of their friends learned of their engagement through social media.
  • 70% create a custom hashtag for guests to use at the wedding (vs. 51% in 2017).
  • 48% create a custom hashtag for their wedding-related events (i.e., bachelorette party) vs. 36% in 2017.
  • 35% create a custom Snapchat geofilter for their wedding (vs. 17% in 2017).
  • 9% ask guests not to post photos of their wedding on social media.

WEDDING TECH

  • 94% of couples incorporate technology into their wedding planning in some way.
  • 80% create a wedding website for guests.
  • 67% use a wedding planning app (i.e., checklists, budget trackers).
  • 53% allow guests to RSVP to wedding and/or wedding-related events via email or wedding site.
  • 27% send digital invites to wedding-related events (i.e., shower, bachelorette, engagement party, etc.).
  • 26% use high-tech devices for photographing their wedding (i.e., drones, GIF photo booths, GoPros, etc.).
  • 10% send digital invites as save-the-dates.
  • 7% have a live feed of wedding hashtag displayed at the reception (i.e., Instagram photos, tweets, etc.).
  • 6% send digital invites to wedding ceremony or reception.
  • 5% live-stream their ceremony for out-of-town guests.
  • 4% offer charging stations for guests at their wedding.

Howard Cohen is the Shoreham, NY-based editor of The Jeweler Blog, a daily blog ghost-written for retail jewelers. Cohen, a long-time industry veteran, is dedicated to making social media tasks simple and affordable for every jeweler. For more information, visit thejewelerblog.com or contact Cohen at 631-821- 8867, hscohen60@gmail.com. Websites: thejewelerblog.com, thejewelerblog.wordpress.com.

Advertisement

SPONSORED VIDEO

Gene the Jeweler

It Was Hawaii Day at Gene the Jeweler’s Store … Or Was It?

In this episode of Jimmy DeGroot’s satirical Gene the Jeweler series, Gene learns that it was Hawaii Day at his store. At least that’s what his employee, Jeremy, says. But Jeremy’s answers aren’t quite adding up. It’s hard to say what this “Hawaii Day” was really all about.

Promoted Headlines

Headlines

NFL Player Awarded $6.1M in Jewelry Fraud Lawsuit

The jeweler says he’ll appeal.

mm

Published

on

Drew Brees, quarterback for the NFL’s New Orleans Saints, has won $6.1 million in damages from a jeweler he claims sold him diamonds at grossly inflated prices.

Drew Brees

In a jury trial in San Diego, Drees said he bought $15 million in diamonds from Vahid Moradi and CJ Charles Jewelers over a four-year period ending in 2016, The Advocate reports. He said he’d become friends with Moradi and trusted him completely.

Brees said he and his wife, Brittany, were then told by an appraiser that they’ve overpaid by about $7 million.

The Breeses alleged fraud and breach of contract, as well as violation of California business law, according to The Advocate.

Moradi and his lawyer, Kevin Rooney, said they plan to appeal the jury’s decision. They said they “passionately disagree” with the verdict.

Moradi said he sold jewelry to the Breeses at a normal retail markup.

Read more at The Advocate

Advertisement
Continue Reading

Headlines

Online Diamond Seller Files for Bankruptcy

Dozens of individuals and businesses are reportedly owed money.

mm

Published

on

Enchanted Diamonds, a Manhattan-based diamond dealer, has filed for bankruptcy, the New York Daily News reports.

The company, which sells its products online, owes $1.8 million, according to the newspaper.

Much of the debt is to customers who claim they paid the company and didn’t receive their gems.

A filing in federal bankruptcy court indicates that the firm owes money to dozens of individuals and business entities across the U.S. and in other regions, including Asia.

Advertisement

More than 50 customers are “pursuing restitution through a law firm hired by Rare Carat, an online aggregator for jewelers,” according to the Daily News.

Joshua Niamehr, president of Enchanted Gems, did not respond to a request for comment on Friday, according to the newspaper.

Read more at the New York Daily News

Continue Reading

Headlines

Jeweler Accused of Stealing from Customers

He was arrested May 30.

mm

Published

on

A jeweler in Lawrenceville, GA, has been charged with theft, the Atlanta Journal-Constitution reports.

Timothy New, owner of The Bench Jewelers, is accused of shortchanging some customers who left their jewelry with him for consignment. He also allegedly failed to complete custom design jobs that he promised, and failed to return the money.

New, 55, has been charged with theft by conversion and theft by taking.

He was arrested May 30, according to the Journal-Constitution.

The business has been closed.

Advertisement

“Detectives have served several search warrants, which yielded the recovery of a large amount of jewelry,” Lawrenceville police Lt. Jake Parker said in a press release. “We are seeking help and looking to return the jewelry to the confirmed owners, as well as identify additional victims.”

Read more at the Atlanta Journal-Constitution

Continue Reading

Most Popular