4 Stats That Show How Millennials Are Buying Engagement Rings

Millennials have confounded the diamond market, and are swiftly changing the wedding industry with their new takes on traditions…but what are they really looking for when buying engagement rings? We have four stats that tell the story…

At the end of last year, we gave readers a good look at how Millennials feel about engagement rings—because the generation is sending the diamond market into a tizzy. Their shifting definition of luxury and status symbols, environmental and social concerns, and budgets have caused some real disruption. When Millennials were called out as a threat to the diamond industry, and The Economist tweeted their story on the subject with the caption, “Why aren’t millennials buying diamonds?”—igniting a swift response from the internet on why the generation isn’t purchasing the “sparkly status symbols.”

In a recent Ypulse monthly survey of 1000 13-34-year-olds, we delved even deeper into the topic, and found out exactly what young consumers are planning for their engagement rings. Of course, the non-traditional came up. One 30-year-old female told us, “For my engagement ring, I want a tattoo. No ring.” But overall, Millennials who are open to marriage—77% of 18-34-year-olds—are likely to shop for some jewelry to symbolize the milestone. In fact, only 2% of Millennials open to marriage told us that they would not have or give an engagement ring. That means there’s plenty of opportunity for the jewelry market—if they know what this generation of ring shoppers is looking for. Here are four stats we uncovered that show how they’re buying their engagement bling: 

Almost three in five Millennials would want a diamond as the main stone in their/their partner’s engagement ring.

Ok! So the majority of Millennials still do want diamonds. Though it may not be quite as…

 
 

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The Newsfeed

“[Anna Victoria is] a good role model to women and is changing the way the world looks at fitness and body image.”—Female, 21, CA

Abercrombie & Fitch is going gender-neutral for their new kids’ clothing line. The “Everybody Collection” features “tops, bottoms, and accessories” for five-14-year-old boys and girls. A&F’s Brand President explained their decision to appeal to The Genreless Generation: "Parents and their kids don’t want to be confined to specific colors and styles, depending on whether shopping for a boy or a girl.'' The line of 25 new styles will be rolling out online and to 70 stores, starting this month. (Today)

Millennials & Gen Z already think the Nintendo Switch is cool, and now the brand is giving them more ways to use it. They’re introducing Nintendo Labo, “cardboard-based, interactive DIY experiences” for the Switch, tapping into the “toys-to-life” trend. The variety kit lets players construct five different “Toy-Con” experiences that include turning the Joy-Con controller into a motorbike handle complete with a throttle that can be twisted to accelerate, and creating a piano that senses which keys are pressed to produce the correct musical note. (Kidscreen)

YouTube is pulling Tide Pod Challenge videos from its platform. Teens started eating Tide pods when memes showcasing their Gusher-like colors went viral. The brand has since issued warnings not to eat the pods, and some stores have even begun locking up the product. YouTube has explained the decision to take down the popular pod-eating videos as a continuation of their policy to “prohibit content that’s intended to encourage dangerous activities that have an inherent risk of physical harm." Some are suggesting that pressure from parent company Procter & Gamble may have also been a factor. (Mashable)

The streaming wars are continuing, but audiences are turning to Netflix, Hulu, and Amazon Prime for very different kinds of content. Hub Entertainment Research found original content is winning users' time on Netflix, while over half watch Hulu for its syndicated collection, and movies are most popular on Amazon Prime. The study also found that most Americans overall spend their entertainment time watching TV (40%), but 18-24-year-olds are most likely to engage with gaming and online video, like YouTube. (Quartz)

Outdoor Voices embraced Millennials’ minimal moment to break onto the athleisure scene. The brandless brand goes for a minimalist aesthetic with pops of color, and sees itself as an anti-Nike of sorts. The founder explains that they’re “a recreational Nike” because “With Nike and so many other brands, it’s really about being an expert, being the best. With OV, it’s about how you stay healthy—and happy.” Whatever they’re doing, it’s working: the company has grown rapidly since it was founded in 2013, climbing a startling 800% in 2016 alone. (Vogue)

“I saw some heartbreaking stories in the internet, and decided to look up some international charities and donate to them.”—Male, 20, WA

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