Bridal

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Study: 20 percent spend more on bridal than planned

Princess-cut engagement rings gain popularity

July 13, 2009

New York--Eighty percent of couples are not downsizing their engagement ring as a result of the current economy, according to The Knot 2009 Jewelry Study.

In fact, the average spend on an engagement ring is $5,800, with more than 20 percent of couples spending more than they had originally planned.

Couples are also spending more than $2,000 for both of their wedding bands, with almost twice as much being spent on the bride's band than the groom's.

Only 15 percent of couples purchased matching wedding bands.

The study also shows that two-thirds (67 percent) of brides are involved in the selection and purchase of their engagement ring. Further, if a bride is significantly involved in the engagement ring purchase, the couple spends an average of three months looking at approximately 28 rings at more than four retailers before choosing the ring.

When it comes to metal color, the study shows the preference for white gold engagement rings has increased by more than 30 percent since 2005. As for diamond shape, preference for the round cut has remained steady, while the princess cut has gained in popularity by more than 25 percent.

The average center stone is just over 1 carat, and a ring's average total carat weight is 1.5 carats.

According to the study, stone shape (53 percent) and ring style (52 percent) are the most important attributes, while price/value and stone size tied as the fourth attribute under consideration.

DRI, on behalf of leading wedding resource The Knot, conducted the survey of 9,000 couples of mixed ethnicities, education and income levels across 50 states, with wedding dates between August 2008 and September 2009. The survey was fielded in March 2009.
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