November 10, 2017
Couples are planning their engagement proposals together more often. Image credit: The Knot
While wedding proposals are often depicted as momentous and surprising events, a new study found that the majority of proposals are known about by both parties beforehand.
Even though this may make the actual moment a bit less spontaneous and romantic to some, it also means that increasingly couples are collaborating on their engagement plans with more communication over the perfect ring to buy, an important bit of data for the luxury jewelry industry. This information comes from The Knot, which released its 2017 Jewelry & Engagement Study to give jewelry brands a better idea of how couples are tying the knot today.
Planned proposal
For years, jewelry brands have been marketing engagement rings solely to men with guides on how to pick the best ring for her and other tips that rely on the idea of the surprise.
What new research from The Knot shows is that often this is not the case.
For one, only one in three proposals are a surprise, meaning that that both parties know that the proposal is going to happen and have planned accordingly.
Couples are even shopping for rings together. Image credit: The Knot
What is even more important is that 33 percent of couples shop for rings together. This joint engagement ring shopping means that couples are being more deliberate about what they pick.
However, these ring shoppers are hitting some snags. Most notably, many of them say they are unsure if they are getting a good deal and are unfamiliar with much of diamond terminology.
This leaves a big opportunity for jewelry brands to invest in education and make sure the people who are buying engagement rings, who often do not have the most experience with diamonds, know what they are getting into.
Additionally, engagement ring spend is up 25 percent from 2011, with the average price being around $6,350.
Joint shopping
With proposal season on the horizon, the time of year when most couples get engaged according to The Knot, brands are already stepping up their engagement offerings.
British jeweler De Beers is beginning a journey alongside brides-to-be with nuptial-themed content, placing its engagement rings at the campaign's center.
Housed on De Beers’ social media accounts, the jeweler has embedded its engagement rings' styles into various types of weddings to help brides use their ring as a guide for planning their ceremony. From venues and bouquets to hairstyles and invitations, De Beers’ wedding content allows the jeweler to be a part of the celebration after the ring has been purchased and the planning begins (see story).
Four Seasons Hotel Macau, Cotai Strip helped brides- and grooms-to-be plan their nuptials with a Wedding University.
Four Seasons Macau Wedding University. Image credit: The Knot
During the half-day program on Aug. 13, 2016, couples were able to consult experts about everything from beauty and wedding fashion to Chinese ceremony customs and etiquette. For this fourth annual event, the hotel expanded the offerings, giving a fuller overview of the wedding planning process (see story).
These planning events are in line with research from The Knot, which shows that 40 percent of couples say their weddings are meticulously planned down to the very last detail.
Brands can embrace the more strictly planned nature of engagements and weddings by bringing education and more concrete planning support to customers who are looking to get married.
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