Surveys

How Much Are US Consumers Spending on Engagement Rings?

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.

20170216_Kirk-Kara.jpg
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.
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Bulgari’s expanded factory in Valenza, Italy
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in Italy

Located in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.

Jason McNary accepting FGI Fine Jewelry Rising Star award for Paola Sasplugas
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ Award

Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.

1999 Cosmograph Daytona, Ref.16516
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to Auction

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

gia1d100 btyb.jpg
Brought to you by
Protect Your Customers and Your Business

The risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.

Carmelo Anthony and Jaylen Brown David Yurman campaign
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen Brown

The basketball stars wear men’s jewelry from the “Curb Chain” collection.

Weekly QuizApr 18, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Woman wearing Zales jewelry
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine Jewelry

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

JAR Apricot Blossom bracelet
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry Collection

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.

gia-topimage 0325.jpg
Brought to you by
A Brilliant Future Is Here

Get online education from GIA experts.

National Jeweler columnist Lilian Raji
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of Mouth

Lilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.

Avi Levy
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth Officer

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

Scottsdale Fine Jewelers store exterior
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow Independent

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

Cartier Exhibition Installation at Victoria & Albert Museum
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Bill and Birdie Levine of Van Cott Jewelers
IndependentsApr 21, 2025
New York Jeweler to Close After 111 Years

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

IJO Director Samantha Larson
IndependentsApr 21, 2025
IJO Names New Director of Vendor Relations, Merchandise Strategy

Industry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.

Events & AwardsApr 21, 2025
Jewelers of Louisiana, Mississippi Jewelers Association to Co-Host Convention

The two organizations will hold the educational event together this fall in Mississippi.

Daymond John
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las Vegas

The entrepreneur and “Shark Tank” star will share his top tips for success.

Dukachi Easter Bread Pendant
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ Pendant

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

Bremer Jewelry
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated Store

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

Tiffany & Co. Strong Like Mom campaign
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day Campaign

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.

Athena Calderone x John Hardy Collection
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired Collection

Interior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.

Movado Connect 2.0 watches
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs Impact

During a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.

Natural Diamond Council Diamond Learning Center Graphic
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning Center

The free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.

Jewelers of America logo
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from Members

The feedback will be used to prepare other jewelers for the challenges ahead, the organization said.

Technology Therapy Group logo
TechnologyApr 17, 2025
Technology Therapy Group Expands AI Training for Jewelry Retailers

The online sessions are designed to teach jewelers to use AI tools like ChatGPT and Claude to grow their business.

Catbird Chicago
IndependentsApr 16, 2025
Catbird Expands to Chicago

The opening marks the jewelry retailer’s first location in the Midwest.

Foundrae United in Love Campaign
CollectionsApr 16, 2025
Foundrae’s First Commitment Jewelry Collection Unites Through Love

The “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.

Robert and Rose-Marie Goodman outside Robert Goodman Jewelers
IndependentsApr 16, 2025
Indiana Jeweler to Host Black Jewelry Designer Pop-Up

Robert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy