From National Jeweler Network:
Tucson, Ariz.—A new report by a market research Web site for the wedding industry shows that engagement and wedding ring sales are slated to increase 13.4 percent over the next five years.
According to TheWeddingReport.com, engagement ring spending will total $6.1 billion in the United States in 2008, with another $2 billion in spending on wedding rings for brides and grooms.
This $8.1 billion bridal market will increase to $9.2 billion by 2013, a growth of 13.4 percent over five years.
The vast majority of both engagement and wedding rings will contain diamonds, and more than two-thirds will be white gold.
The report also sheds some light on the habits of those popping the question.
According to the report, December is the most popular month for engagements, and Saturday is the most popular day for popping the question.
Couples typically begin their bridal ring research more than six months before their wedding, with style and cost the top two factors influencing their purchasing decision.
Read more about the bridal market 9.2 billion dollar forecast…