The market for engagement and wedding rings in the US is robust and evolving, with a strong focus on individuality, sustainability, and innovative designs. While solitaire diamonds remain the most desired gemstone, consumers are increasingly drawn to more diverse and unconventional engagement-ring designs.
At Signet Jewelers-owned retail chain Jared, “we have seen an uptick in customers choosing gemstone rings as engagement rings, but white diamonds remain the preferred choice for center stones,” reports Ann Grimmett, Jared’s vice president of merchandising.
Elongated fancy-shape diamonds, antique stones in modern settings, and the resurgence of bold gold are all making waves. Trends include Art Deco-inspired styles, gypsy rings, and contemporary takes on classic forms. Also notable is the revival of button-back settings with pear and oval-cut diamonds at an angle to create a modern, playful look, according to designer Nicole Kopelman, founder of the Nicole Rose brand.
Melding ‘me’ and ‘we’
Today’s engagement and wedding rings aren’t just statements of eternal love. Couples are styling them as part of a broader jewelry ensemble reflecting their identities and lifestyle choices.
“It’s about selecting a piece that not only symbolizes a commitment, but also embodies the wearer’s personality and individuality,” says New York-based jewelry designer Lauren Addison.
“We’re seeing a high demand for wedding rings as brides and grooms increasingly style them like fashion jewelry — stacking multiple rings on one finger, across the hand, and switching them out to create different looks for various occasions,” Grimmett says.
She’s also observed a generational trend. “While engagement rings represent forever, we do not find that Gen Z and younger millennials approach it as a forever ring. They are more willing to be adventurous with it, knowing they can update or change it at a later date. Many customers are already married, meaning they are purchasing for an upgrade.”
Solitaires with a twist
Rings with a lone center diamond remain popular for their substantial appearance. A favored solitaire style is the compass setting, in which the prongs face north, south, east and west. Embellishments like a single row of diamonds along the shank or a hidden diamond halo are also trending.
At Jared, center stones with intricate details like hidden halos are currently the most popular choice, Grimmett says. “We have seen a lot of changes in terms of customers wanting wider or more delicate bands on their rings. This has shifted a few times in the past five years. Overall, more detailed and ornate seems to be working.”
And it’s not just solitaires; three-stone rings are gaining traction at Jared as well, she adds.
For Australia-based jeweler Natasha Schweitzer, the most requested settings are bezel and east-west, which give the timeless solitaire a modern twist.
Meanwhile, the Wave bands from Los Angles-based designer Grace Lee’s eponymous brand feature diamonds in oblique arrangements that create a fluid, dynamic aesthetic.
Celebrity influences
Celebrities certainly play a role in influencing jewelry trends. After actress Lily Collins’s rose-cut diamond engagement ring hit social media in 2020, both Lee and designer Ashley Zhang saw a spike in requests for rose cuts.
Chunky engagement rings have also surged in popularity lately with help from actress Emma Roberts, whose engagement ring features a solitaire diamond on a thick gold band.
“With chunkier styles becoming more popular, clients are not necessarily requesting diamonds over two carats,” says Zhang. “Instead, we’re seeing more emphasis on metalwork, with satin and matte finishes to highlight the diamonds.”
Yellow gold and mixed metals
Jewelers have noted a significant rise in the use of 18-karat yellow gold, which adds a bold and vibrant touch to designs. Platinum and white gold remain popular choices as well. Interestingly, Kopelman has seen a decline in requests for rose gold over the past few years.
The trend of mixed metals continues to thrive, with growing demand for the bold contrast between white and yellow gold. The classic two-toned solitaire is timeless and makes for flexible styling options.
“Mixing metals gives the most versatility for long-term stacking and can make your diamond pop in contrast with a yellow gold band,” explains Zhang.
Fancies: Offset elongated cuts
“We’ve noticed a shift in customer preferences toward fancy-shaped diamonds, especially elongated cuts,” says Grimmett.
Kopelman echoes that sentiment, noting that “these shapes allow the diamond to appear larger on the finger compared to round or square cuts. I believe customers aim to achieve the biggest look possible within their budget, and an elongated stone helps them do just that.”
For Schweitzer, ovals are the most requested cut, but she’s recently seen a rise in demand for the emerald cut, with its clean lines, sophisticated light play and old-world charm.
“When sourcing diamonds, we prioritize a higher ratio and elongated silhouette, which has become our signature approach,” she says.
Round brilliant diamonds continue to dominate Jared’s sales, followed by princess cuts. “We’ve also observed significant growth in the demand for emerald-, radiant-, pear- and marquise-cut diamonds,” says Grimmett, adding that customers desire a larger center stone in both mined and synthetic diamonds.
Addison has observed growing interest in antique diamonds — especially when they’re part of contemporary custom designs — due to their timeless charm and the appeal of their sustainability factor.
Zhang, who specializes in vintage styles, says her most requested diamond cut is the elongated old mine cut.
“These stones are very rare and difficult to find, making each one very unique.”
For Lee, “the elongated pear shape is truly special — a bold statement that’s eye-catching and rare in the marketplace. I’ve made this style my own, and it has become a defining feature of the Grace Lee brand.”
Multiple bands
With the growing trend of stacking rings for an everyday look, independent designers have seen a bump in requests for rings with two or even three attached bands, offering the convenience of a pre-stacked design.
Lee’s multi-band options, such as the Helix and Crossover rings, are among her most requested styles. “Our clients are drawn to them because there’s nothing quite like these designs on the market,” she says. “For our clients who enjoy stacking, they prefer a simpler single-stone setting around which they can create a unique ‘ringfie’ stack” — a stack perfect for ring selfies on social media — “starting with the wedding band.”
Budget considerations
This year, Lee reports, both men and women have spent similar amounts on their wedding bands, with a starting price of around $5,000 for bands with diamond accents. For engagement rings, the starting price is typically around $15,000.
Spending has slightly declined among most of Zhang’s clients,
who lay out between $10,000 and $15,000. Many are attracted to diamonds with lower color grades because it means they can get a larger look for less. Kopelman’s customers spend $25,000 to $35,000 on average for natural diamonds.
Overall, spending trends remain steady, with some choosing more affordable options and others willing to invest in one-of-a-kind high-end designs. For Schweitzer’s clients, “the choice is deeply personal,” says the designer, “but we are committed to catering to any budget.”
Main Image: a selection of diamond-set rings at Jared. (Jared)
This article is from the October-November 2024 issue of Rapaport Magazine. View other articles here.
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