A Band, A Ring & A Saga of True Love!

RETAIL BOOM IN THE USA: ENGAGEMENT RING & BRIDAL BAND SALES ON AN ALL TIME HIGH

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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!