Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    CG Creations – in a league of their own
    Hubbell Proctor Designs: The Experience Is Key
    C.D. Peacock to open luxury watch and jewelry store next spring
    Hubbell Proctor Designs: The Experience Is Key
    Shefi continues expansion of bridal lines, fashion
    Why do diamond mines close?
    Why do diamond mines close?
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    Gemvision introduces MatrixGold® 3
    Gem-A spotlights gemstone research with latest edition of The Journal of Gemmology
    Artistry, Ltd. celebrating 40th anniversary
    IGI launches new interactive eLearning
  • Podcast
  • Columnists
    Motivating your sales staff
    IAS Training’s Keys to Effective Communication – Part III
    Kate’s star-studded style. What will the next trend be?
    Motivating your sales staff
    IAS Training’s Keys to Effective Communication – Part II
    Retailing in a post-PC world
    Motivating your sales staff
    IAS Training’s Keys to Communication
    The Retailer’s Perspective: With great power comes great fails
    The Retailer’s Perspective: I don’t want to be an expert anymore
    Sales Tips by Aleah: Everything is Sales
    The Retailer’s Perspective: With great power comes great fails
    The Retailer’s Perspective: Doom & Gloom or Boom & Bloom
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
No Result
View All Result
Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    CG Creations – in a league of their own
    Hubbell Proctor Designs: The Experience Is Key
    C.D. Peacock to open luxury watch and jewelry store next spring
    Hubbell Proctor Designs: The Experience Is Key
    Shefi continues expansion of bridal lines, fashion
    Why do diamond mines close?
    Why do diamond mines close?
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    Gemvision introduces MatrixGold® 3
    Gem-A spotlights gemstone research with latest edition of The Journal of Gemmology
    Artistry, Ltd. celebrating 40th anniversary
    IGI launches new interactive eLearning
  • Podcast
  • Columnists
    Motivating your sales staff
    IAS Training’s Keys to Effective Communication – Part III
    Kate’s star-studded style. What will the next trend be?
    Motivating your sales staff
    IAS Training’s Keys to Effective Communication – Part II
    Retailing in a post-PC world
    Motivating your sales staff
    IAS Training’s Keys to Communication
    The Retailer’s Perspective: With great power comes great fails
    The Retailer’s Perspective: I don’t want to be an expert anymore
    Sales Tips by Aleah: Everything is Sales
    The Retailer’s Perspective: With great power comes great fails
    The Retailer’s Perspective: Doom & Gloom or Boom & Bloom
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
No Result
View All Result
Southern Jewelry News
No Result
View All Result
Home Latest News Other News

The Wedding Report and MVEye launch Today’s Wedding Jewelry Consumer

New research platform helping retailers with next generation wedding jewelry consumer

May 18, 2022
Share on FacebookShare on Twitter

(AUSTIN, Tex.) – Shane McMurray of The Wedding Report, a premier source of unbiased wedding statistics and wedding market research, and Marty Hurwitz of THE MVEye, leaders in market research for the global gem, jewelry, and watch industries, announced the launch of Today’s Wedding Jewelry Consumer (TWJC) a unique, interactive research platform to help jewelry retailers learn more about and thrive with the next generation of wedding jewelry consumers.

“After someone gets engaged, their next step is to plan the wedding,” said McMurray. “The Wedding Report’s Wedding Cost Estimator captures about a quarter million consumers per year who have just gotten engaged and now seek to understand the cost of their upcoming wedding.”

 

Marty Hurwitz
Marty Hurwitz
Shane McMurray
Shane McMurray

Hurwitz added: “It’s the perfect time to learn about their recent jewelry shopping experience and their likely future jewelry shopping experience. This is research data that jewelry retailers have never had access to before and it will be extremely valuable for product development, marketing efficiency and sale presentations.”

Statistical data will be segmented by consumer demographics, key geographic markets in the USA and the entire country. Learnings and predictive modeling from the research include:

Engagement ring market size
In 2022, 2.07 million engagement rings will be sold at an average cost of $3,670 making the engagement ring market in the US worth approximately $7.6 billion.

Custom design engagement rings
In 2022, about 386k complete custom engagement rings will be sold at an average cost of $5,384 making the complete custom engagement ring market worth approximately $2.1 billion. Couples that purchase a complete custom engagement ring spend about 57% more than those that select an existing style.

Lab-Grown vs. Mined
In 2022, approximately 1 in 4 couples purchasing an engagement ring will purchase a lab-grown engagement ring.

Financing
In 2022, about 545k couples will finance their engagement rings through the jeweler with average cost of $4,512 making the engagement ring finance market worth approximately $2.46 billion. Couples that finance their engagement rings through the jeweler spend about 28% more than those that do not.

Warranties
In 2022, about 1.13 million couples will purchase a warranty for their engagement ring. Couples that purchase a warranty for their engagement ring spend about 51% more than those that do not. Interestingly, almost 14% of couples, purchasing an engagement ring, said they didn’t know about warranties, no one told them, or they didn’t think about it, as a reason they didn’t buy a warranty. Most believe rings are covered under their homeowners or renters’ insurance.

Insurance
In 2022, about 1.07 million couples will purchase insurance for their engagement ring. Couples that purchase insurance for their engagement ring spend about 45% more than those that do not. Interestingly, almost 17% of couples, purchasing an engagement ring, said they didn’t know about insurance for it, no one told them, or they didn’t think about it, as reasons they didn’t buy insurance.

Wedding rings
In 2022, 4.5 million wedding rings will be sold at an average cost of $667 making the wedding ring market worth approximately $3 billion.

TWJC beta interactive research reports are now available to demo for free. Click here and hit the “Get Free Access” button and you will receive an access code.

Future TWJC reports will be released on a triannual schedule and will be available on a subscription basis. Participating report sponsors will be able to provide free or discounted subscriptions for their customers.

Related Posts

Gemvision introduces MatrixGold® 3

June 22, 2022

Gem-A spotlights gemstone research with latest edition of The Journal of Gemmology

June 22, 2022

IGI launches new interactive eLearning

June 22, 2022

GN Diamond’s Free Marketing Tools Help Retailers All Year Long

June 22, 2022

Latest News

What's New

Gemvision introduces MatrixGold® 3

June 22, 2022
Columnists

IAS Training’s Keys to Effective Communication – Part III

June 22, 2022
Other News

Gem-A spotlights gemstone research with latest edition of The Journal of Gemmology

June 22, 2022

Other News

Artistry, Ltd. celebrating 40th anniversary

IGI launches new interactive eLearning

Jewelers Mutual Group names Mike Alexander COO

GN Diamond’s Free Marketing Tools Help Retailers All Year Long

Kate’s star-studded style. What will the next trend be?

JCK wraps 30th Anniversary Show in Las Vegas

Southern Jewelry News

© 2022 Southern Jewelry News.

Additional Information

  • About
  • 2022 Trade Shows
  • Media Kit
  • Contact

Get Social with Us

No Result
View All Result
  • Featured Articles
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    • Sponsored Content
  • Latest News
    • What’s New
    • Industry Events
    • Tradeshow News
    • On The Move
    • Other News
    • Furry Friends
  • Columnists
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription

© 2022 Southern Jewelry News.