YouGov released a new report.
When it comes to marketing to millennials, the jewelry industry still has plenty of work cut out for it, if a new report is any indication.
First the good news: Half of 18-to-34-year-olds believe engagement rings symbolize “love,” according to the survey by market research firm YouGov. That’s roughly in line with 35-to-54-year-olds (49 percent) and those 55 and up (52 percent).
And 56 percent of the youngest group say the rings represent committment. That’s compared with 62 percent of 35-to-54-year-olds and 71 percent of those 55 and up.
But the youngest group is more likely to view engagement rings as symbols of some far less romantic notions.
Fourteen percent of millennials say they represent ownership of the other person. Only 6 percent of the middle group and 2 percent of the oldest group agree.
Fifteen percent of the youngest group say engagement rings symbolize the ecnomic status of the one proposing. That’s compared with 8 percent of the middle group and 4 percent of the oldest group.
And 14 percent of 18-to-34-year-olds view the rings as symbols of the monetary value of a relationship. That compares with 11 percent of 35-to-54-year-olds and 4 percent of those 55 and up.
Read more at YouGov