It was back in 1477 when a groom gave a bride a diamond engagement ring for the first time – Mary of Burgundy was proposed by Archduke Maximilian of Austria with a sparkler encrusted with stones in the form of an 'M'. Since then, the idea of using a perfect-cut diamond when asking for someone’s hand in marriage started to blossom and eventually became mainstream.
From then on, popping the big question has become synonymous with researching the four C’s and following the golden rule of saving up three months’ worth of salary when buying the ring of her dreams. However, the process of purchasing an engagement ring is evolving as a result of the scientific breakthroughs in lab-grown diamonds, the COVID-19 pandemic being the catalyst for engagements, as well as the fact that consumers now have access to more information and choices than ever before thanks to the Internet and social media.
With so many factors affecting the ring-buying process, here are three ways in which the diamond ring-shopping experience is transforming!
1. Reconsidering mined alternatives
Since the advent of lab-created diamonds, their brilliant surge and growing prevalence have been attributed to Millennial buyers' eco-conscious mindset (and a fraction of Gen Z-ers!). The simple truth about lab diamonds is that they are gaining popularity among young people due to the humanitarian and environmental benefits they provide. Among the best things about them, you might ask? They are optically, physically, and chemically identical to traditionally mined diamonds but set at a fraction of the price! To be exact, these affordable engagement rings are typically 40 per cent lower priced in comparison to their earth-mined counterparts.
With individuals assured that the lab-grown diamonds they choose for their future spouse are competitively priced, it makes the purchase a value for money that can spare them from burning a hole in their wallet when choosing the perfect engagement ring.
2. The rise in online shopping
It is no doubt that the COVID-19 pandemic has opened up the way individuals shop for engagement rings nowadays. Many jewellery shops online are taking it a step further to cater to those who may have previously been reluctant to make such a significant purchase online. Implementing exceptional service through ways such as virtual appointments is making people more confident about their choices. As such, the shift to online shopping has become prominent, with more and more individuals now buying rings and other jewellery online.
3. Shopping together
According to a study by One Poll, couples are increasingly choosing the bride's engagement ring together rather than having the groom make the decision alone, as was once the tradition. Given that the groom is often in charge of the engagement ring-buying process, this shift feels rather significant. However, with there being movement in terms of how the engagement ring is chosen, this quality time spent together should ultimately be viewed as an activity that bonds the couple together!
Choosing an engagement ring is ultimately one of the most intimate purchases you will ever make and is perhaps the most sentimental item you will ever wear. Most importantly, you should work with a trusted jeweller that can help make you feel loved and content each time you glance at your hand.
If you’re seeking a jeweller you can trust, do not hesitate to book an in-store consultation with us over at Love & Co.! Our friendly team will be happy to help you make informed decisions on your engagement ring purchase based on your needs or assist you in measuring her ring size. Speaking of engagement rings, you can also check out our Singapore wedding jewellery collection in advance for peace of mind prior to the wedding.