Average Spend on Engagement Ring Rises to $5,493
April 21, 25
(IDEX Online) - The average spend on an engagement ring last year was $5,493, according to a Plumb Club study of 2,000 jewelry customers, a 2 per cent increase on the previous year.
The Plumb Club, representing over 100 supply-side jewelry companies, also asked consumers about where they bought jewelry, what influenced their purchases, and the elements - such as quality, design, price and brand - that were most important to them.
Designers and brands were the biggest single influence on a purchase (31 per cent), closely followed by family and friends (30 per cent).
Quality was, by, far, the thing that mattered most (39 per cent), followed by design (21 per cent) and price (17 per cent).
Consumers said they preferred to buy from local or independent jewelers (43 per cent), followed by national jewelry chains (23 per cent) and department stores (13 per cent).
The Plumb Club's headline figure from its Industry and Market Insights 2025 is slightly higher than the $5,200 figure released last month by The Knot.
But the wedding website said the average spend was falling - down from $5,500 in 2023, and $5,800 in 2022 - largely because of lab growns.