Bridal Means Business

RAPAPORT… No matter what is going on in the world, or with the economy, the one thing that always endures is love. Couples continue to fall in love, get engaged, buy diamond engagement rings and get married. Much of the wedding excitement starts with the giving and receiving of a diamond ring, which not only symbolizes ever-lasting love and commitment, but historically has served as a “contract” between the two parties that they will indeed wed. In February 2009, Greenfield Research conducted a study for the Diamond Information Center (DIC) that found that 83 percent of couples plan to acquire a diamond engagement ring to mark the event — and that is a sizable piece of the wedding cake.

Bridal is a steady business. Over the past two decades, approximately 2.1 million to 2.3 million weddings have taken place annually in the U.S. — a trend that is expected to continue over the next couple of years. That number, however, may be set to increase as “Echo Boomers” — offspring of Baby Boomers, also known as Generation Y — come of age. Numbering around 80 million, the Echo Boomers were born between 1979 and 2002, putting the oldest at prime marriageable age right now.

Wedding Style

While there is a movement to more sleek, modern but classic styles, micropavé surrounding the center stone, on the shank, or both, continues to be a key look.

Platinum and white gold are still the metals of choice for most diamond engagement rings. For those more avant-garde brides, some designers are offering blackened 18-karat gold or titanium for a timeless look with edge.
The average cost for this enduring symbol of commitment, according to Conde Nast’s Brides.com 2009 American Wedding Study, is $6,348 — a 43 percent rise over 2006’s average of $4,435. On the following pages, you will find some of today’s most popular engagement ring styles.