Average engagement ring spend up by 89% in last year

31 Jul 2018

The average amount spent on engagement rings has increased dramatically. Find out just how much Brits are spending...

British couples are spending almost double last year's UK average on engagement rings, new research has revealed. 

Jewellery insurance provider Protect Your Bubble has reported that couples who got engaged in the last year spent an average of £1,483 on the all-important ring, compared to last year's £785 - which was 19% less than the average spend five years previous. 

However, despite the growing trend for pricier engagement rings, the tradition of spending three-months' wages on the ring seems to be completely outdated now, with Brits forking out less than 78% of their earnings on average.

Still, the pressure is on to pick the perfect engagement ring and proposal spot with a third of respondents claiming the ring is the most important aspect when popping the question and 11% admitting they would decline the proposal if the setting wasn't right.

James Brown, director of Protect Your Bubble, says: “This hefty increase in the amount that Brits are willing to spend on engagement rings could be a sign that consumer confidence is finally returning to the luxury goods market. This increase will certainly come as welcome news to the jewellery industry, which will have felt the pinch following the Brexit referendum."

Related content

supplier finder

Get a quote

Looking for that perfect local supplier?
Let us know what you need and we’ll start looking for you.

supplier finder

Find a supplier

Search over 200,000 Suppliers in the UK.

or

Leave a comment

Comments

There are no comments to display, be the first!

bride

Everything for your wedding

Wedding Photo of the Week: Aaron Dickie Photography

Each week we’re inviting all wedding photographers to submit their images to be Bri...

Wedding Buy of the Week: Brand new Martin Thornburg for Mon Cheri blush dress (Odette), size 20, £800 o.n.o

Shop for your wedding the pre-loved way with Sell My Wedding; take a look at Bride's Buy...

A small, personal wedding in Italy

Hannah Gill and James Cooper  travelled to Italy for a small wedding attended b...

A ballet inspired shoot in East Sussex

Photographer Sarah Rook shares the inspiration behind  Ophelia  - a ballet t...

Wedding Photo of the Week: Richard Jarmy Photography

Each week we’re inviting all wedding photographers to submit their images to be Bri...

Looking for that perfect local supplier?
Let us know what you need and we’ll start looking for you.

the wedding show