The price millennials are willing to pay for an engagement ring has remained stable over the past three years, even as they become more flexible in their stone choices, research shows.
The average price couples spent on engagement rings in 2018 was $5,000, the same amount they shelled out in 2017 and 2016, data from WeddingWire shows. The wedding-services marketplace surveys approximately 18,000 newlyweds in the US each year to predict future trends in the industry.
While the cost of a ring has remained the same, couples have become more flexible in terms of the stone they choose, with 71% picking a diamond as the main stone, compared to 74% in 2017. In 2016, this question wasn’t included in the survey.
Read more about the stable prices on engagement ring spending on Rapaport HERE