2003

Engagement Ring Shoppers Looking for Quality

Summer 2003

There have been several important research studies recently that people in the trade should know about.

One of the studies, conducted by National Jeweler, found that:

* 90% of consumers surveyed rated quality as the most important factor in determining where they buy their bridal jewelry. Price was a close second, followed by selection.

* More than 40 percent of engagement ring shoppers plan to buy a diamond of one carat or larger.

* 60% of engagement ring shoppers are willing to spend more than $1,500 on a diamond, and some 24% — one out of four— are willing to spend more than $5,000.

* More than half favor engagement rings with accent side stones.

* Round is the most popular shape, but demand for princesses is growing.

* A fair amount of brides are willing to experiment with colored diamond and colored side stones — some 28%, according to the survey, especially now that their profile is higher, with both Jennifer Lopez and Kobe Bryant’s wife receiving colored diamonds.

* 78% said they would not buy a diamond that was not accompanied by a lab grading report, compared to 22% that would.

* 53% of engagement ring shoppers said they were planning to buy wedding bands with diamonds, versus 47% who said no.

* So far, only 4% of customers surveyed said they plan to buy bridal jewelry on the Internet — which is still significant considering the numbers are going up.

Most consumers (44%) plan to buy their bridal jewelry at an independent jewelry, 27% at a mall jeweler, 8% at a department store, and 4% at a discount store.