IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
SurveysFeb 16, 2017
How Much Are US Consumers Spending on Engagement Rings?
According to The Knot, the average spend is now above $6,000 while The Wedding Report says it’s closer to $3,400.
The average cost for an engagement ring has passed the $6,000 mark, according to The Knot’s 2016 Real Weddings Survey, while The Wedding Report says it’s more like $3,407. Pictured here is a ring from Kirk Kara’s “Lori” collection ($4,340 in platinum, $3,050 in 18-karat gold, not including center stone).
New York--No matter which report you put more stock in, it’s good news for jewelers: The average amount consumers are spending on their engagement ring in the United States continues to rise.
Recently, wedding planning website The Knot released the results of its 2016 Real Weddings Study in which the company surveyed some 13,000 couples who got married last year to chart the financial spending habits and trends of real weddings in America.
When it comes to the cost of an engagement ring, the survey found that the average spend in the U.S. rose from $5,871 in 2015 to an average of $6,163 last year, an increase of 5 percent.
The Knot said in a press release that survey respondents represent a variety of ethnicities, and educational and income levels and are geographically dispersed across the country. But the company did not respond to a request for more specific information about the survey demographics by press time.
The Knot draws from its own membership for the survey.
Meanwhile, The Wedding Report, a research company that tracks and forecasts spending in the wedding industry, has released a different set of numbers, saying 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 noted that spend on the wedding band is down slightly, decreasing less than 1 percent to $1,242.
The Wedding Report draws on a geographically and demographically diverse crowd, including multiple ethnicities, education levels, occupation types, income levels, marriage number and participants 16 and over, though specific demographics of the participants were not given to National Jeweler.
Both The Knot’s survey and data from The Wedding Report also found that the average cost of weddings is increasing.
According to The Knot’s 2016 Real Weddings Study, the average cost has reached an all-time high at $35,329, up from $32,641 in 2015.
The Wedding Report’s data showed an increase that was less pronounced and a lower total overall, from $26,645 in 2015 to $26,720 last year.
Not surprisingly, the most expensive place 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 places across the country are located in the New York metro area: Manhattan, Long Island, north/central New Jersey and the outer
boroughs of New York City. Coming in at fifth on the list was another major metro area, Chicago.
So, what’s behind the increase in cost of weddings these days?
The Knot found that couples are putting more focus on their guests’ experiences at the event. They are decreasing the number of guests but spending more per guest overall as brides and grooms aim to provide tailored entertainment and special amenities.
The spend on custom entertainment for guests has more than tripled from 11 percent in 2009 to 41 percent last year, with photo booths, games, musical performances and fireworks topping the list, The Knot said.
So, what’s behind the increase in cost of weddings these days?
The Knot found that couples are putting more focus on their guests’ experiences at the event. They are decreasing the number of guests but spending more per guest overall as brides and grooms aim to provide tailored entertainment and special amenities.
The spend on custom entertainment for guests has more than tripled from 11 percent in 2009 to 41 percent last year, with photo booths, games, musical performances and fireworks topping the list, The Knot said.
More on Surveys
The Latest
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
Weekly QuizMar 21, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat RubyThe ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair ServicesThe auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024The company also noted record sales in the United States and a strong performance in its jewelry category.
SourcingMar 21, 2025
BrankoGems To Hold Conference in MontanaThe event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.
TrendsMar 21, 2025
Piece of the Week: Marrow Fine’s ‘Til Death’ RingAfter the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.
IndependentsMar 20, 2025
Korman Fine Jewelry’s New Store Is Double the Size The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.
Events & AwardsMar 20, 2025
JCK Rocks to Feature Snoop Dogg, Jason DeruloThe rapper and singer-songwriter will perform at Tao Beach on June 8.
TechnologyMar 20, 2025
Chris Ploof, Severine Ferrari Launch YouTube Video Series“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.
Lab-GrownMar 20, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
MajorsMar 19, 2025
Signet Jewelers to Close Stores, Cut Staff Amid Declining SalesThe moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.
CollectionsMar 19, 2025
Jessica McCormack’s New Collection Elevates Office WearThe “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.
WatchesMar 19, 2025
Breitling Acquires Another Watch Brand From the 1800sBreitling is reviving Gallet, which was founded in 1826 and is known for making watches used in the early days of long-distance travel.
AuctionsMar 19, 2025
10-Carat Fancy Vivid Blue Diamond Expected to Sell for $20MDubbed the “Mediterranean Blue,” this “remarkably rare” diamond will be part of Sotheby’s May jewelry auction in Geneva.
MajorsMar 19, 2025
AGS Adds New Program, Relaunches CSAThe American Gem Society now offers a Jewelry Evaluation Advisor designation as well as an updated Certified Sales Associate designation.
CollectionsMar 18, 2025
Beck Debuts New Collection as Trove’s Latest Designer-in-ResidenceRebecca Zeijdel-Paz created more than 75 new pieces for the residency, which will be on display at Trove’s store in New York through April.
ColumnistsMar 18, 2025
Peter Smith: The Importance of Culture in HiringSmith explores why a qualified candidate might still not be right for the job.
Events & AwardsMar 18, 2025
Fink’s Jewelers Is Now a Regional Emmy WinnerThe company and its marketing agency, Loudr, were recognized for the “Make You Dance” marketing campaign.
