Women buy more Diamonds than Men

De Beers Group 2019 Diamond Insight Report shows that while society and relationships are evolving, diamonds remain the essential symbol of love

The latest diamond industry research published by De Beers Group reveals that the share of U.S. women buying their own engagement ring doubled from seven per cent to 14 per cent within a five year period, and when women buy their own diamond engagement ring they spend on average 33% more than men – $4,400 compared with $3,300. The research reflects increasing female purchasing power and the continuing evolution of financial dynamics within modern relationships. The research comes as De Beers Group 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: 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-1980), 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. The leading motivation for diamond jewellery purchases in cohabiting couples is as a gift of love, and women in these relationships now represent 10% of the diamond jewellery market in the US.