CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
SurveysFeb 21, 2018
US Consumers Spent Less on Their Weddings Last Year
They also spent a little bit less on their engagement rings, the latest study from The Knot shows.
U.S. couples spent less on their weddings and their engagement rings last year but they continue to place importance on bucking tradition. This 18-karat white gold ring from Valani is set with a 2.06-carat Sri Lankan sapphire surrounded by 0.28 carats of diamonds ($5,700).
New York--Consumers’ priorities when it comes to weddings sound a lot like their preferences when it comes to retail. They want to have a great experience, and they want something uniquely their own.
Last week, on Valentine’s Day, wedding planning website The Knot released the results of the 2017 Real Weddings Study, which surveyed nearly 13,000 couples in the United States who tied the knot last year.
Overall, the study found that the average cost of U.S. weddings dipped in 2017, the first time that has happened in the 11 years The Knot has been doing the survey.
The average cost of a wedding was $33,391, down 5 percent from the high of $35,326 reached in 2016.
Slipping alongside the overall wedding cost was the amount spent on the engagement ring.
In 2017, the average was $5,764, a difference of about $400, or 6 percent, from the 2016 average of $6,163.
(The figures The Knot provides in its annual Real Weddings study are gleaned from a different set of respondents than its biennial Jewelry & Engagement Study; see full explanation below.)
In evaluating the results of the study, The Knot said that while couples are spending less and inviting fewer guests overall, the amount spent per guest reached a high of $268 last year, up from $194 eight years ago.
Couples are trying to make it a better experience for each guest, spending more money on reception amenities like sparklers, selfie stations, candy bars, musicians and lawn games.
The Knot also noted that there were fewer black-tie weddings, which tend to be pricier, and more weddings in non-traditional venues that speak to the couple’s personalities, like barns, libraries and even a boxing gym.
The most expensive place to have a wedding in 2017 was—no surprise at all—Manhattan, with the average cost of a wedding nearing $77,000. Weddings in nearby north/central New Jersey ($62,074) and Long Island ($61,113) were the second and third most expensive in the country.
The city/state with the lowest average wedding
cost in 2017 was Utah at $18,516.
The Real Weddings Study is one of the studies The Knot conducts on a regular basis. It comes out every year and acts as a barometer for overall wedding spending in the U.S.
Every other year, The Knot publishes its Jewelry & Engagement Study, which focuses on trends surrounding the proposal, including how much couples are spending on engagement rings.
The latest Jewelry & Engagement Study came out last year. It surveyed 14,000 couples, a mix of engaged and newly married pairs, and showed that the average amount spent on an engagement ring is now $6,351.
RELATED CONTENT: 5 Engagement Ring Trends for 2018The study also showed that today, the bride and groom split the cost almost equally with the bride’s parents. The parents footed the bill for, on average, 44.5 percent of the wedding while the couple contributed 41.1 percent. Other contributors included the groom’s parents (12.7 percent) and other (1.79 percent).
The Real Weddings Study is one of the studies The Knot conducts on a regular basis. It comes out every year and acts as a barometer for overall wedding spending in the U.S.
Every other year, The Knot publishes its Jewelry & Engagement Study, which focuses on trends surrounding the proposal, including how much couples are spending on engagement rings.
The latest Jewelry & Engagement Study came out last year. It surveyed 14,000 couples, a mix of engaged and newly married pairs, and showed that the average amount spent on an engagement ring is now $6,351.
More on Surveys
The Latest
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Weekly QuizApr 11, 2024
This Week’s QuizTest your jewelry news knowledge with this seven-question quiz.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
MajorsApr 11, 2024
Macy’s Opens Books for Possible BuyoutThe retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
CollectionsApr 10, 2024
Sylvie Launches New Nature-Inspired Collection, ‘Tulira’The bridal collection consists of 35 engagement rings and seven wedding bands.
WatchesApr 10, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
IndependentsApr 10, 2024
Levy's Fine Jewelry Explores Diamond History The family-owned jeweler has a new education section on its website dedicated to the history of diamond cutting.
CollectionsApr 10, 2024
With Clarity Partners With NFL on Wedding Bands The limited-edition men’s rings can be customized with one of 12 team logos.
SourcingApr 10, 2024
Compliance, Caution, and Concern: The Current Outlook of Indian Diamantaires There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.
WatchesApr 09, 2024
Chrono24 Debuts Pre-Owned Watch Authentication ProgramThe program, now live in Europe, will roll out to the U.S. this summer.
AuctionsApr 09, 2024
Phillips to Offer 6.21-Carat Vivid Pink DiamondColored gemstones and signed jewels are the focus of its upcoming Geneva sale.
SourcingApr 09, 2024
Former De Beers Exec Appointed to Lucapa Board Stuart Brown, who was De Beers’ CFO and interim CEO, is now Lucapa’s independent non-executive chairman.
MajorsApr 09, 2024
Jewel360 Announces New POS Integration, JFC PartnershipThe point-of-sale software can now prompt customers to round up their credit card purchases as a donation to Jewelers for Children.
