How has COVID-19 impacted engagement ring purchases in 2024

by Maki Sharda

We are all witnessing the lifestyle changes brought by the appearance of the Covid virus. Without notice, the entire globe stopped at once, and we had to adapt to this new situation. It has brought with it numerous changes in the business world, in interpersonal relations, it changes the way of shopping, in general and after all, it affects the style and way of leading life and performing daily activities.

As much as we are intimidated by Covid-19, we have to admit that thanks to it we have turned to some good segments of life, which we have completely ignored in the past. In addition to turning to nature, it certainly plays a major role in building better social relations between individuals. We turned to family, friends and because of the cruel virus, we managed to strengthen our relations. It’s the closeness, the condemnation of each other, spending so much time together with your partner that made many of you decide to go a step further and get engaged. You know how important the purchase of an engagement ring is for a future married couple, but did Covid-19 influence that purchases in 2024 as well?

It did for sure! For this very important issue for partners, buying an engagement ring has become more challenging than ever before. More time people pass in searching the right ring, have different requirements and greater cooperation of jewelry stores. Whether by buying this important ring, people are in some way running away from the circumstances that the virus has brought with it or not, is up to you to judge. Below we’ll reveal to you how the sale of engagement rings has changed.

Shortened planning time

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Pandemic engagement data reveals that people are quicker to take this step than before. As already mentioned, Covid-19 has influenced the rapprochement of couples and their love strengthening. Despite the bad economic situation caused by the virus, the fact that sales of engagement rings have risen by 30% is almost unbelievable, isn’t it?

We live in unpredictable times, when we don’t know what tomorrow could bring, so uncertainty greatly affects the quick move of a loving couple. The new conditions have led to a shift in the date, shortening the number of guests… Earlier, more time would be spent in designing the happening, the ideal place would be chosen, etc. This is not the case today. Because of the pandemic, it has become important for people to formalize their relationship as soon as possible, and at the same time buy an engagement ring that will be the crown of their relationship. It’s believed that now people go to half the number of jewelry manufacturers compared to the time before the pandemic. This tells us about the time spend on ring shopping, which has greatly decreased compared to before.

When we talk about time, we can’t help but notice that the time has significantly decreased in the purchase of a wedding ring as well. You know it used to take time to buy an engagement ring and start a new chapter in life. It could take a couple of months or even a year from the engagement to the wedding. That is no longer the case. Wedding rings are now being bought at high speed after engagement rings.

Couples spend more on engagement rings

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Each of us, especially the ladies, dedicate a lot of time thinking about your ideal wedding. What will the dress be like, how many people will be there, where will the ceremony take place, etc.? However, as the virus surprised us all, we had to change, shorten, and eliminate some of our plans. This gave us more freedom in the money game.

If you won’t be able to have 250 planned guests, it means that you will have more money to spend on the engagement ring, right? While it is seemingly incomprehensible to spend more on buying a ring in these difficult times, it is our reality. People rely on the size of the ring, which should be a symbol of the greatness of their love, and even more than ever, they opt for a larger size of cards. White gold is at the forefront of buying rings, but there is also a greater demand for diamond rings.

Online ring purchase

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We imagine buying a ring as an intimate, personal moment that we want to enjoy trying different models and choosing the one that suits us best. However, according to the current situation, this is also our past. Due to the epidemiological measures that vary from country to country, people are increasingly turning to online engagement ring purchases.

There are still those who go to jewelry stores with complete health protection, but according to JewelryTalk, 37% of the survey respondents purchased their rings online during 2024-2021. Jewelry stores are taking many online measures to cater to potential customers. It’s available to them to choose the material, color, extent of the ring. Plus, with the help of 3D imaging and more modern technology, customers have greater visibility and can know exactly what they are buying. In just a week you’ll have the wanted product in your hands. So, it won’t take much time to go from ordering the ring to its delivery.

Another newness that has certainly contributed to the greater online purchase of engagement rings in 2024, is the greater availability of professional consultations. In fact, customers have the opportunity to meet online jewelry consultants and hear a lot of expert advice. It’s estimated that 15% of people asked for their help and managed to make a wanted purchase. In addition to online consultations, merchants offer their support via emails, phones and messages.

Turning to smaller companies

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Couples also developed the need for smaller companies’ offer during the pandemic. Although smaller businesses have recorded a more difficult period in the last year and a half, they have reached a satisfactory business level in this industry.

Due to the huge demand, purchase and delayed delivery of engagement rings from large companies, couples are turning more to smaller ones where the whole process is much faster. With this purchase, customers have the opportunity to meet with the designer and know better his work, to consult in order to reach the right solution together. It gives customers a sense of security and satisfaction.

With this article, we have pointed out to you just some of the consequences of buying an engagement ring that was influenced by Covid-19. Whether you are in the process of buying this ring, or are just planning to buy it, don’t let the whole situation discourage you. We hope that the pandemic will soon be over, and that in a few years you will happily remember this period precisely because of the purchase of the engagement ring!

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