This Is the Average Engagement Ring Spend in 2017
Right in time for proposal season (the time of year when 37 percent of couples get engaged), we’ve released The Knot 2017 Jewelry & Engagement Study—and in doing so, have unearthed some fascinating facts about millennials and marriage.
We surveyed more than 14,000 engaged or recently married brides and grooms from across the US regarding everything from ring shopping to proposal planning in order to uncover the top trends and habits amongst to-be-weds in 2017.
As for interesting findings, only one in three proposals are a surprise, which can be attributed to the fact that partners are more meticulously planning and discussing their future together long before an actual proposal happens. To be exact, one in four couples report discussing marriage more than two years before actually getting engaged.
When it comes to ring shopping, the average spend is up 25 percent from 2011 ($6,351 from $5,095), while the average time spent looking for one hovers around 3.5 months (but planning a proposal is a more lengthy process—those surveyed report spending around 4.4 months devising a game plan before popping the question). Couples said they looked at an average of 26 rings before deciding on the one, and interestingly, online ring shopping is more popular than ever before.
While to-be-weds—millennials, in particular—are leaning toward dating, ring-shopping and wedding planning using digital tools, our study proves they’re making a return to practicing time-honored proposal traditions as well. In particular, 91 percent of grooms are both proposing with a ring in hand and actually using the phrase, “Will you marry me?” up from 85 percent and 86 percent in 2011, respectively. A staggering 87 percent still report proposing on one knee, up from 77 percent in 2011.
So while marriage proposals, in their own way, are undoubtedly evolving with the current generation, it’s thought provoking to discover that some traditions are clearly here to stay.
Check out the top engagement and jewelry stats from our survey below:
● Average engagement ring spend: $6,351 (up from $5,095 in 2011)
● Average time spent looking for ring: 3.5 months
● Average time spent planning a proposal: 4.4 months
● Average number of rings looked at before purchase: 26
● Engagement rings with a custom design: 45 percent
● Most popular stone cut: round (52 percent)
● Average carat size for center stone: 1.2 carats
● Average carat size for total ring: 1.8 carats
● Most popular engagement ring setting metal: white gold (61 percent)