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

“I love watching movies and shows uninterrupted.”—Female, 18, CO

Mattel just made the first hijab-wearing Barbie. She’s based on Ibtihaj Muhammad, who won the Olympic bronze medal for fencing for the U.S. while wearing a hijab. Brands are bringing diversity to the toy aisle to appease The Diversity Tipping Point generation’s appetite for inclusion, and this new doll is a step in the right direction. She gives girls a new role model and (in Muhammad’s words) encourages them "to embrace what makes them unique." Mattel has plans to create an entire line of Barbies based on inspirational women next year. (BBC)

Another ‘90s classic, Are You Afraid of the Dark, is coming to the big screen and revisiting Millennials’ childhood nightmares. Nostalgia entertainment is big business for the entertainment industry, who are hoping to capitalize on Millennials and Gen Z’s trademark wistfulness, and it doesn’t hurt that this screenplay for the remake is being written by It’s screenwriter. With horror proving it can bring in massive audiences these days, this mixture of dark content and nostalgia is a good bet to get them in theaters. (Collider)

Millennials are causing a “baby bust”—they aren’t having enough kids to keep the U.S. population at the “replacement level.” According to the Negative Population Growth Inc., the birth rate has dropped below the death rate, with women are having an average of just 1.8 births compared to the 2.1 needed to keep the population steady. The research blames all Millennials for the drop, reporting that “irth rates for all age groups of women under 30 fell to record lows in 2016.” (Washington Examiner)

Kellogg’s is coming back to NYC, with a bigger (and maybe better) cereal café than last year’s Times Square popup. The 5,000 square foot Union Square space will be a permanent place for Millennials to try crafty concoctions from Kellogg’s, who hopes getting the demo to rethink the product will keep Millennials from “killing” cereal as we know it. The company claims “It’ll be a destination for foodies and people to chill, create and explore the endless possibilities of cereal all in one place, whether it be for breakfast, lunch or a snack later in the day.” (CSA)

People are binging Netflix in public—at work, in line, and even on the toilet. A new study from Netflix found that 67% of viewers have watched a show or movie in public, 37% admit to tuning in at work, and 12% have pressed play in a public restroom. One in five have cried during a public streaming session, and 11% have seen a spoiler on another public streamer’s screen—but that’s not stopping them. The Binge Effect is real and bigger than ever: 60% of respondents said they binge more content than they did last year. (MashableMarkets Insider)

“I really enjoyed Breaking Bad and Better Call Saul does a really good job capturing the same intensity and intrigue that the original series did…”—Male, 28, NY

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