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The research reflects increasing female purchasing power and the continuing evolution of financial dynamics within modern relationships. The research comes as De Beers Group today published its latest Diamond Insight Report , which found that while society is changing rapidly, love remains a constant and diamonds are now acquired and used in a wider variety of ways to symbolise it.
The report highlights that:. Our latest Insight Report highlights that this holds just as true today, even as other aspects of love — such as traditions, relationship roles and relationship types — continue to evolve. And it will be increasingly important to share information about the hugely positive impact diamonds have for producing countries and communities around the world, as this reinforces their value as symbols of love that their owners can be proud to wear.
Innovation sits at the heart of the De Beers Group strategy as it develops its portfolio of brands, including De Beers Jewellers and Forevermark, and other pioneering solutions, such as recently launched diamond sourcing and traceability initiatives Gemfair and Tracr. De Beers Group is a member of the Anglo American plc group. For further information, visit www. Company News. Back to all news. More women than ever buying their own engagement rings, and spending more on them than men. The report highlights that: As the tradition of marriage evolves, diamonds continue to play a central role as the symbol of love.
Although marriage rates in the US have decreased, and engagement periods are becoming longer now five times longer than pre , diamonds continue to be by far the leading choice for engagements and weddings, with eight out of 10 wedding rings and nearly nine out of 10 engagement rings in the US containing diamonds. Meanwhile, the value of diamonds given as a gift of love before or after a wedding now exceeds the value of the engagement and wedding ring market.
In addition, the fast-growing segment of unmarried cohabiting couples also express substantial demand for diamonds as symbols of their love. Diamond jewellery is purchased both to celebrate each other and to celebrate the relationship, and the preference is for more modern and less traditional and gender-specific des. As the Millennial generation becomes a more ificant force in the economy, they are now spending more than other couples on engagement rings. The average spend on engagement rings by Millennials in the US is now higher than the average spend on engagement rings in the US market as a whole.
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