The Knot Delivers Latest Research with 2009 Jewelry Study
Research Reveals the Current Economy Has Little Effect on Engagement Ring Spend, the Bride Has a Heavy Hand in the Decision, White Gold Has Increased Over 30%, and Much More
NEW YORK, NY (July 13, 2009)–The Knot Inc. (NASDAQ: KNOT), the owners of The Knot Wedding Network (which includes the Internet’s most-trafficked wedding websites and communities TheKnot.com andWeddingChannel.com) delivers the latest installment of The Knot Market Intelligence Bridal Series with the 2009 Jewelry Study. This recent survey of more than 9,000 recently married couples captured detailed feedback on everything from the proposal itself to the engagement ring, wedding bands, and wedding day jewelry. The survey was administered by DRI on behalf of The Knot Market Intelligence Group.
“We’re delighted to add this comprehensive look at engagement and wedding-related jewelry to our industry’s knowledge base,” said Miriam Alexander Vice President of Insights and Analytics at The Knot Inc. “The Knot Market Intelligence is committed to marrying our unique access to the hearts and minds of thousands of brides with our deep experience and industry knowledge in a way that enables all of us to better serve our customers.”
2009 Jewelry Study Highlights
THEY SHOP TOGETHER: A whopping 67% of brides are involved in the selection and/or purchase of the engagement ring, a slight increase of 5% over the past few years. Interestingly, a third of brides are even visiting ring retailers without their fiancés. And for the bride who was significantly involved in the engagement ring purchase, the couple spends three months looking at approximately 28 rings at more than four different retailers, on average, before choosing the one!
THEY ARE STILLSPENDING: The average amount spent on an engagement ring is $5,800, with more than 20% of couples spending more than they had originally planned. A majority of couples (80%) claimed that they were not downsizing their ring as a result of the current economy, and although 16% of couples determined the engagement ring budget together, it was the groom who ultimately made the decision (82%).
SHE GETS WHAT SHE WANTS AND SHE KNOWS HER 4C’S: The majority of brides received their first choice of stone shape/cut (67%) and metal (78%) and when it comes to choosing a ring, stone cut/shape and style/setting were the most important attributes, with 53% and 52%, respectively, ranking it as number one or number two. Price/value and stone size tied as the fourth attribute under consideration.
WHITE GOLD AND PRINCESS CUT ARE ON THE RISE, BUT STONE SIZE REMAINS THE SAME: Since 2005, white-gold engagement rings have increased by more than 30% and the princess cut has gained in popularity (a 15% increase) but the round cut remains most popular. The average center stone is just over 1 carat and the average total carat size for rings with multiple stones/accents is 1.5 carats.
WHEN IT COMES TO THEIR BANDS, MATCHY-MATCHY IS OUT: Couples are spending more than $2,000 for both of their bands, and the bride is getting top billing — as they spend almost twice as much on hers as his. Only 15% of brides and grooms purchased matching wedding bands. It’s no surprise that more than 60% of brides chose bands with bling (only 15% of grooms’ bands include diamonds), while grooms chose rings with a comfort fit.
Additional highlights will be available on The Knot Market Intelligence Web Site: http://www.theknotinc.com, while complete results and custom profiles are available for purchase. For more information, please contact TKMI at firstname.lastname@example.org. The 2009 Jewelry Study is the latest release in The Knot Market Intelligence’s Bridal Research Series. Other recent studies include the2009 Bridal Fashion, Beauty, and Health & Fitness studies. Upcoming research includes the 2009 Destination Wedding, Honeymoon Travel and Registry studies.
About the Survey: More than 9,000 qualified couples– of mixed ethnicities, education, and income levels- were polled across 50 states. Wedding dates of those polled fell between August 2008 and September 2009. A qualified respondent was either:
- 18 or older and married between May 2008 and April 2009
- 18 or older and engaged between March 2008 and February 2009
The survey was fielded in March 2009 and was administered by DRI on behalf of The Knot Market Intelligence Group.
For more statistics, or to speak with an editor or with brides in your area, please contact The Knot Press Office at email@example.com.
About The Knot Inc.
The Knot Inc. (NASDAQ: KNOT, www.theknot.com) is a leading lifestage media company. The Company’s flagship brand, The Knot, is the nation’s leading wedding resource, reaching well over one million engaged couples each year through the #1 wedding website TheKnot.com, The Knotweddings magazines and The Knot regional magazines, The Knot books (published by Random House and Chronicle), and several television series bearing The Knot name (on Style Network, Oxygen, and Comcast).