In the key US market, nearly 90% of engagement rings and 80% of wedding rings contain diamonds. De Beers Group’s latest Diamond insight report states that young couples still consider diamonds as the primary embodiment of everlasting love and romance. Report says that diamonds continue to hold its position with it being the predominant choice for engagements and weddings.

It is a wrong perception that young couples are not interested or less interested than previous generations in diamonds to honor their love relations. In fact millennial spending on women’s wedding rings is higher than the overall market average in the US. Something that has changed is the choice in designs. Millennials ask for a more original, design-led pieces. The retailers now need to present more diversity in product design to customers. New generation is even eager to buy customized designs as they seem more thoughtful.

The share of US women buying their own engagement ring has doubled from 7% to 14% in the last 5 years. With more economic independence of women in relations and society in general has lead to the buying power in their hands so they are more involved and interested in what they will be wearing in their fingers for a lifetime. This trend is making the retailers happy as when women buy their own engagement ring, they tend to spend 33% more than men on an average.

But it’s not just the engagement ring where couples see a place for diamonds to demonstrate their love. There is also a fast-growing segment of unmarried living in couples who are using diamonds as gifts of love and so are the same sex couples, with 70% of them viewing diamonds as important for celebrating both relationship milestones, as well as each other as individuals. These rising trends has given an opportunity to retailers for develop designing, marketing & advertising that will reflect the modern couples and their purchasing behavior.