Connect with us

Headlines

Here’s the Millennial Engagement Ring Trend Everyone Is Talking About

mm

Published

on

Are old traditions losing their sparkle?

A spate of articles this month touted a new trend for millennials buying engagement rings.

They’re going for color.

Refinery 29 explains that couples “are increasingly choosing colorful stones such as rubies, emeralds, and sapphires” when they get engaged.

 The Telegraph, also reporting on the trend, states that diamonds are “losing their sparkle” among millennials. Allianz, an insurance company, has found that millennials spend an average of 573 pounds, or $711, on an engagement stone. Many couples prefer to spend their money on education, housing or travel, according to the Telegraph.

Colored gems are often seen as being more distinctive compared to traditional diamonds, the newspaper reports.

They’re also perceived as being cheaper, though that doesn’t always hold true. Prices for colored gemstones “have absolutely skyrocketed in recent years,” said John Benjamin, an expert in antique jewelry, according to the Guardian

Advertisement

“In auction, we’re seeing prices that we never saw before, it is a very different sort of marketplace from the old days when coloured stones could be bought, frankly, very cheaply in auction,” he said.

And despite all the headlines about millennials turning away from diamonds, De Beers said in a recent report that in 2015, they spent nearly $26 billion on diamond jewelry in the largest four markets combined — the U.S., China, India and Japan. That amounted to 45 percent of the total retail value of new diamond jewelry acquired in those markets.

According to De Beers, millennials “represent a source of considerable future potential for the sector.”

Read more at Refinery29

Advertisement

SPONSORED VIDEO

Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success

After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone. Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently. The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular