IDEX Online Research: Age at First Marriage Continues to Rise in U.S.

(IDEX Online News) – The median age at which men and women in America marry for the first time hit a record high in 2012. For jewelers, this is good and bad news. While older consumers have more money to buy jewelry, they are putting off marriage which is slowing growth of the bridal market.

Men in the U.S. now marry for the first time at a median age of 28.6, up nearly two years from 26.8 in 2000, according to new data from the U.S. Census Bureau. In the 1950s, the median age for men’s first marriages was 22 years old or so. This was the result of soldiers returning home from World War II coupled with a robust growth economy.

Women now marry for the first time at age 26.6, up about a year-and-a-half from age 25.1 in 2000. During the 1950s, women married at about age 20.

The following graph summarizes the changes in the average age at first marriage for the past 122 years – since 1890 – in the American market.

Implications for Jewelers

As the average age at first marriage continues to rise, it is the proverbial “double-edged sword” for the jewelry and diamond market.

Older couples tend to have a higher income as well as more liquid assets (savings accounts, stock portfolios) than younger couples. Thus, these 28-year-old men have more money to spend on a diamond engagement right and wedding related jewelry.

However, there are fewer weddings as couples put off marrying for the first time. Further, older couples are less likely to purchase a traditional diamond engagement ring, opting instead for either a colored gemstone ring or a piece of estate jewelry.

In short, the historic direct correlation between population growth and expansion of the jewelry wedding market is not as great as in the past.