What’s going on with engagement ring trends?
The engagement ring trend is slowly moving towards an all-out decline, as consumers are increasingly turning their back on their favorite accessories and choosing to ditch them altogether.
While most ring trends are still very niche, some are turning a corner and becoming mainstream.
For example, a recent report found that nearly 80% of millennials surveyed said they don’t like rings anymore.
But engagement rings are still extremely popular among the millennial generation.
According to a survey by the consumer research firm Mintel, engagement rings were the most popular item in households in 2017.
In fact, over 80% reported that they wear a ring on a regular basis, and this is up from 71% in 2016.
In addition, 57% of respondents reported wearing an engagement ring on multiple occasions, up from 50% in 2017 and 46% in 2014.
In other words, engagement ring consumption has grown from a niche item in 2017 to a mainstream trend in 2018.
A big reason for this shift is the increasing trend towards the “wear it like a fashion item,” or wear it with style, by consumers.
According to Mintel’s survey, nearly 40% of millennial households are wearing an ring or bracelet as a fashion accessory, compared to just 6% in 2018 and 6% a decade ago.
The most popular rings, bracelets, and necklaces are also among the most worn items.
And millennials are even wearing the rings they already have, and they are still spending more on them than other generations.
According, a survey conducted by Mintel found that 59% of young women aged 18-24 had worn a ring at some point in the last year.
The next highest number, 25%, said they have worn an engagement or engagement ring.
Another survey found that 51% of 18-to-24-year-olds wear engagement rings, compared with 35% of seniors.
The remaining 25% of people aged 65-plus said they did not know whether they had ever worn an engaged ring.
And millennials are not the only ones who are buying engagement rings as a way of expressing themselves.
An analysis of a 2017 survey by Nielsen found that 60% of women between the ages of 18 and 35 were spending more than $1,000 on engagement rings in 2017, compared by 27% of men.
While millennials are still buying engagement ring accessories, the trend has taken a turn for the better, according to Mintels findings.
In 2018, 47% of consumers who were between the age of 18 to 34 and who reported having purchased an engagement engagement ring in 2017 said they had done so since then, compared the previous year.
In addition, millennials were spending an average of $4,000 more on rings than they did in 2017; that’s up from an average increase of $1.50 in 2016 and $1 in 2013.