A Band, A Ring & A Saga of True Love!
Diamond World|May - June 2022
RETAIL BOOM IN THE USA: ENGAGEMENT RING & BRIDAL BAND SALES ON AN ALL TIME HIGH
A Band, A Ring & A Saga of True Love!

A huge number of engagement rings have reportedly sold across the United States from Christmas last year onwards. This trend of copious engagement ring sales has got wedding research agencies forecasting sales of wedding bands on an all time high. This is good news for the diamond market in the U.S. as solitaires make the best wedding bands. Diamond World studies jewellery retail trends based upon first-hand data and interviews of top retailers in the U.S.

With 2.5 million weddings slated to take place as estimated by the Wedding Report, this year in the U.S., jewellery retailers have reason to celebrate. The surge in the number of weddings has spurred estimates of high weddings band sales in the course of the year.

Evolving Scene of the American Wedding

Romance is in the air with an estimated 2.5 million weddings to be averaging annually in the U.S. this year. That would make it 7000 weddings each day and 14,000 bands being exchanged! The Wedding Report reveals that couples purchased 1,625,385 engagement rings and spent approximately USD3,603 on each ring, whereas 1,722,134 wedding bands were sold with an average spend of $818 per band. Last year, The Wedding Report states that 1,934,982 weddings took place in the year 2021. So totally USD 5,856,261,723 was spent on engagement rings and USD 1,408,705,596 was spent on wedding rings in the past one year. This year in 2022 however, the total market estimate as presented by The Wedding Report Inc. estimates USD 68,655,716,730 as the total spend in American Weddings with 2,074,116 engagement rings with a market of USD 7,612,006,601 and 2,197,576 weddings bands creating a market of USD 1,830,580,425.

Bridal Bands Sell Like Hot Cakes!

Diese Geschichte stammt aus der May - June 2022-Ausgabe von Diamond World.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der May - June 2022-Ausgabe von Diamond World.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS DIAMOND WORLDAlle anzeigen
GJEPC's IIJS Tritiya: A Grand Showcase of Indian Jewellery Excellence
Diamond World

GJEPC's IIJS Tritiya: A Grand Showcase of Indian Jewellery Excellence

The latest edition of IIJS Tritiya surpassed its predecessor in scale and sophistication, boasting a staggering 900 exhibitors and 1,900 stalls spread across 40,000 square meters. Serving as an expansive marketplace, it facilitated crucial connections and collaborations for industry players, drawing over 15,000 pre-registered visitors from 500 cities in India and 60 countries, which emphasizes its global importance.

time-read
4 Minuten  |
March - April 2024
Venus Jewel ETHICAL SOURCING, RESPONSIBLE MANUFACTURING AT THE CORE OF VENUS JEWEL
Diamond World

Venus Jewel ETHICAL SOURCING, RESPONSIBLE MANUFACTURING AT THE CORE OF VENUS JEWEL

Venus Jewel began its journey with a vision to revolutionize the industry, and took the bold step of becoming the first to specialize in premium size natural diamond manufacturing in India. This pioneering approach has allowed the company to differentiate itself from competitors, and cater to a unique market segment

time-read
4 Minuten  |
March - April 2024
GemGenève BUDDING DESIGNERS TO WATCH OUT FOR AT GEMGENEVE
Diamond World

GemGenève BUDDING DESIGNERS TO WATCH OUT FOR AT GEMGENEVE

Visitors to GemGenève's forthcoming edition, between May 9 and May 12, 2024, at Palexpo Hall 1, should not miss the amazing space known as the Designer Village. Bringing together rising stars of the gem and jewellery industry, the Village offers an uplifting overview of some of the most promising talents

time-read
3 Minuten  |
March - April 2024
Russian Diamond Imports ROUGH DIAMOND IMPORT DOWN BY 8% OWING TO G7-EU BAN: GJEPC
Diamond World

Russian Diamond Imports ROUGH DIAMOND IMPORT DOWN BY 8% OWING TO G7-EU BAN: GJEPC

The phased ban on the import of Russian diamonds imposed by the G7 nations and the EU has thrown the global industry out of gear - India is particularly concerned as the livelihood of millions of people might be impacted. Vipul Shah, Chairman, GJEPC, talks to Suneeta Kaul about the steps that are being taken to address the challenges and mitigate the situation

time-read
5 Minuten  |
March - April 2024
THE NEW JEWEL IN TOWN: LAB-GROWN DIAMOND JEWELLERY TAKES CENTRE STAGE
Diamond World

THE NEW JEWEL IN TOWN: LAB-GROWN DIAMOND JEWELLERY TAKES CENTRE STAGE

Lab-grown diamond jewellery is not a fad. While many Indian retailers choose to be circumspect about jewellery laden with labgrown diamonds, which are chemically, optically and physically identical to natural diamonds, there is most definitely a revolution happening in this space, driven by demand backed by sheer affordability

time-read
10+ Minuten  |
March - April 2024
Guinness World Records Recognizes Largest Tanzanite Sculpture
Diamond World

Guinness World Records Recognizes Largest Tanzanite Sculpture

On March 9, 2024, a momentous occasion took place at the Rice Northwest Museum of Rocks & Minerals in Hillsboro, Oregon, marking a historic milestone in the world of gemstones.

time-read
1 min  |
March - April 2024
Signet Jewelers Reports 6.3% Decline in Q4
Diamond World

Signet Jewelers Reports 6.3% Decline in Q4

Signet Jewelers reported a 6.3% decline in total sales to $2.5 billion during the quarter that ended February 3, 2024. Same-store sales were down 9.6%, compared to the previous year.

time-read
1 min  |
March - April 2024
GIA Opens New Lab in Dubai
Diamond World

GIA Opens New Lab in Dubai

Gemological Institute of America (GIA) opened a new, state-of-the-art diamond grading laboratory, GIA Laboratory DMCC (Dubai Multi Commodities Centre) in Dubai on February 19, 2024.

time-read
1 min  |
March - April 2024
WFDB Concludes Annual Presidents' Meeting in Shanghai
Diamond World

WFDB Concludes Annual Presidents' Meeting in Shanghai

The World Federation of Diamond Bourses (WFDB) concluded its annual Presidents’ Meeting for 2024, held in Shanghai, China.

time-read
1 min  |
March - April 2024
GJEPC Presents 50th India Gem & Jewellery Awards to Export Leaders
Diamond World

GJEPC Presents 50th India Gem & Jewellery Awards to Export Leaders

The Gem & Jewellery Export Promotion Council (GJEPC) presented the coveted 50th India Gem & Jewellery Awards (IGJA, to exporters.

time-read
1 min  |
March - April 2024