Do Millennials still buy Diamond Engagement Rings in 2021?

The way millennials shop for an engagement ring is different from how they used to do it. According to recent studies , most millennials are buying their rings online. This article explores how the buying process has changed and how it’s affected us.

In today’s world, the way we buy engagement rings has evolved as a result of the rise of the young generation. Almost half of millennials still buy a diamond engagement ring. However, many of them are opting for a non-diamond ring such as moissanite, a sapphire or a ruby.

So how do you buy your Engagement Ring just like a Millennial?

Where to Shop for a Ring

While half of millennials buy their engagement rings at brick-and-mortar stores, 1 in 4 actually buy their ring online. This is largely due to the ease of shopping online. This makes it far easier for couples to find the perfect ring.

When to buy an Engagement Ring

Almost half of all engagement rings are bought within two months of their potential engagement. This suggests that you start the search for the ring early to ensure that you’re getting the best possible fit.

Is it really necessary to spend 3-months’ salary on a ring?

While the rule of two or three months’ salary has been around since the 1980s, many millennials aren’t following this somewhat outdated rule anymore. In a survey previously conducted by Mint, over half of the respondents said they paid less than two-months’ salary for their ring.

Put that money towards your wedding, honeymoon, house!!!

Millennial couples would rather spend money toward the down payment of a home or a car over the traditional but also expensive diamond engagement ring.

Most couples either choose simpler rings due to style or practicality or alternative gemstones that don’t have the exorbitant price tag. Saving money leaves you more funds to spend on a beautiful venue, vendors, and a wedding dress.

Is it necessary to buy a Diamond?

While 70 percent of millennials still buy a diamond engagement ring, many are opting for a non-diamond stone instead. Morganite is making a comeback due to its unique coloring and affordability. And then there is moissanite that is now the perfect diamond alternative when it comes to finding your dream engagement ring.

So what’s the popular choice in ring settings & styles?

Almost half of the millennials surveyed said they buy engagement rings with a diamond on the band. Engagement rings with settings like pave, halo and channel are also popular choices because they add a bit of dazzle and glitz to a standard band. A halo setting is a hugely popular choice, where the center stone is surrounded by diamonds. Another key style choice is choosing a non-traditional ring that has a non-traditional shape.

What about including my Significant Other in the buying process?

If the proposal comes from the blue, then having your significant other pick something that they want is very romantic. It allows them to pick something that you both like and something that you might not initially go for.

Having your partner choose the ring is romantic, as it allows them to make it their own. They could also go for something that they know they will like, or they could ask for help in choosing it. However, this might not always work out so well.

Women can be picky & some partners are worried about getting the wrong style of ring. Instead of proposing with a ring at all, they take the bride shopping straight after the proposal.

One of the most important things that couples now do, and where many millennials have changed their approach when it comes to buying an engagement ring, is going shopping with their significant other. This method works great if you want to know exactly what you want before going to the store.

Did your partner choose your ring? Or did you choose it yourself? What do you think about women choosing their engagement ring?

Leave a comment

Shopping cart