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How Much Will Your Customer Spend on an Engagement Ring…Really?

How Much Will Your Customer Spend on an Engagement Ring…Really?

Nationwide, couples are demonstrating they’re willing to spend slightly more for an engagement ring. That’s according to this National Jeweler article, which shares insights based on a recent survey from The Knot. In 2013, couples were paying an average of $5,598 for their engagement rings; in 2104, the number was $5,855.

[Tweet “In 2014, couples paid an average of $5,855 for their engagement rings.”]

So, are your customers above average? Or are the romantic couples coming to you spending less than that? There are jewelry retailers out there – and you know who you are – who say, “That average might matter other places, but in this town? No way! My customers just don’t have that kind of money!”

Let’s go back to the National Jeweler article for a moment, as we’re thinking about how valid your objection might be. It notes in there that the same customers who are paying more for engagement rings are also paying more for bridal gowns, venues, cakes and more. Every aspect of planning a wedding has gotten more expensive; we’ve seen this trend documented to some degree in all 8 of The Knot’s previous surveys.

Mobile Increasingly Important Wedding Planning Tool

It’s also important to note the role social media has had in driving engagement ring prices up. Access to mobile wedding planning websites (think Pinterest) has nearly doubled: today, 61% of couples report using these digital tools to determine what elements they want to have as part of their wedding ceremony. As of this writing, more than 13,000,000 Pinterest posts feature engagement rings or are engagement ring related.

This means couples in your area are more than likely to be using mobile wedding planning websites, and while they’re doing so, they’re in an environment that’s absolutely saturated with engagement ring imagery. This exposes them to a variety of styles and price points; effectively acclimating your customer base to the fact that engagement rings prices are higher than they used to be.

Use Social Media To Sell More Jewelry: Your Product Mix

Now is a very good time to consider the mix of engagement ring images you’re sharing on your website and via social media. As retailers, there’s sometimes a tendency to focus on best-selling lines – but part of your social media strategy involves shining the spotlight on the engagement rings your customers would love to be able to afford.

Stretch the envelope and show off your “Oh Wow!” pieces at least weekly. Brides-to-be can’t desire a ring until they see it – but once they desire it, they’re surprisingly effective at getting it. Where is your bride-to-be most likely to see your best rings? On their smart phones – if you’re smart and strategic about ensuring your rings are there to be seen.

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Creative Director/Senior Designer

Tom DiGrazia

With over a decade and a half of professional design experience, Tom brings his knowledge of design principles and focus on user experience to every aspect of his contribution to TTG. Paying special attention to each client’s brand, personalized needs and individual interests, he strives to create compelling concepts utilizing intuitive and highly-refined design solutions. In addition to traditional and digital design work and oversight at TTG, Tom also boasts a wide portfolio of web development projects with the company, allowing him to stretch his CSS and HTML skills across multiple platforms and disciplines. He feels that being a designer in the digital landscape of websites, eCommerce solutions, email marketing platforms and social media, it is important to understand the code that goes into these areas as it assists his ability to tailor designs specifically targeted to achieve the best end result and further builds understanding and communication with backend development teams.

In his off hours, Tom is an avid pop culture enthusiast, staying up to date on the latest shows, films, comics and games. He can also typically be found taking part in a whole host of artistic activities that help him further stretch his creative legs. Regardless of the activity, Tom is always accompanied by his dog, Eli, and his cat, Tib.

Design, Photography, Illustration, Digital Imagery Manipulation, Wesbite Development

Photoshop, Illustrator, InDesign, Lightroom, HTML/CSS, Wordpress


Courtney Dumont

As Senior Marketing Strategist & Analyst at Technology Therapy Group, Courtney is energized by the ability to flex both her left and right brain daily. Courtney discovered her passion for Marketing at Bryant University, where she spearheaded research on students’ perceptions of Social Media Marketing for her Honors Capstone Project. After graduating Bryant in 2012, she joined the Technology Therapy team, where she’s honed her skills in social media, search and social advertising, email marketing, SEO, and more.

Since joining the team, Courtney has created digital marketing strategies and managed campaigns for clients across the country, ranging from plastic surgery centers, to jewelry stores, to construction companies. With a cohesive, cross-channel approach and a focus on data-driven decision making, she has increased their leads by up to 217%. But Courtney doesn’t leave her zeal for social media at the office; she also runs a local foodie Instagram account with her husband to document their meals across Rhode Island and beyond. Check them out: @hoppilyfed.

Marketing Strategy, Data Analysis, Google Ads, Facebook Ads, Social Media

Google Analytics, Google Ads, Facebook Ads, Facebook Creator Studio, Instagram, Klaviyo, Mailchimp, Emma Mail, Google Data Studio, WordPress, YouTube, LinkedIn, Facebook, Microsoft Office