Average man spends less on engagement ring than five years ago

24 Sep 2014

Average man spends less on engagement ring than five years ago

New research by a money saving website in the UK has revealed the average spend on an engagement ring has fallen in the past five years

New research by a money saving website in the UK has revealed the average spend on an engagement ring has fallen in the past five years, with more would-be grooms seeking to save money on their future wife's engagement ring. Lack of finances and partner’s requests not to spend too much were voted among the top five reasons why grooms are seeking cheaper rings.

As many as three in five British grooms search for discounts and deals on engagement rings prior to making a purchase, with the average spend on an engagement ring falling significantly from the equivalent amount spent five years ago. 

www.VoucherCodesPro.co.uk conducted the study as a result of a rise in searches for engagement ring discounts; 1,736 UK men took part in the study, half of whom had bought an engagement ring within the past six months and the rest had bought a ring and popped the question five years ago, in 2009. Respondents answered questions about the amount they spent on an engagement ring and what influenced their spending decisions.

All respondents taking part were initially asked, “how much did you spend on your partner's engagement ring?” Those who bought a ring recently had an average spend of £1,190, compared to those who bought a ring five years ago whose spend averaged £1,845.

After disclosing an average spend of £1,190 on an engagement ring, respondents who had proposed in the past six months were asked to disclose whether they had looked for or used discounts when buying an engagement ring. Two thirds of these respondents (68%) revealed that they had done, with only 32% stating they had not checked for offers whilst in the process of finding an engagement ring. 

The respondents who had previously indicated that they had looked for or used discounts when buying their ring were asked to identify all of the reasons why they had wanted to save money when buying the ring and presented with a list of potential answers. The answers were compiled by researchers, with the top five reasons to look for discounts when buying an engagement ring revealed as follows:

1.      Limited by a lack of available finances – 61%

2.      My partner didn’t want me to spend too much – 37%

3.      I always look for discounts on all my purchases – 29%

4.      Engagement rings can be a waste of money – 55%

5.     Engagement was rushed; no time to save – 16%

All relevant respondents who had used a discount when buying the engagement ring were then asked to disclose whether their partner knew they had used a discount, to which the majority  of respondents (78%) revealed that their partners did not know about it. Only 22% of the respondents’ partners were aware that money had been saved on the purchase.

 

George Charles, of VoucherCodesPro.co.uk, said: “There's a stigma in society that a man has to spend a fortune on an engagement ring for their partner, with the tradition that the ring should cost the equivalent of three months’ wages. Our research, however, shows that the need to flash the cash is slowly vanishing following a dramatic fall in the past five years according to the groups’ average spends.
“Let's be honest, it’s widely viewed as a good thing to bargain hunt and get a good deal for general purchases, so why not with an engagement ring? Of course it has a lot of sentimental value, but as long as you still put time and effort into choosing the right ring, I believe the fact that more men are using discounts for this once-in-a-lifetime purchase is a good thing. Describing it as a waste of money, though, is a different story…!”

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

micebler 06 November 2014
<a href=http://www.canadagoosetmall.com/en/women-canada-goose/camp-hooded-jacket>canada goose camp hooded jacket</a> Converse All Stars 閳?The Style閳ユ獨 Evolution <a href=http://www.canadagoosetmall.com/>cheap canada goose</a> Initially, All Stars ended up only promoted in black color. Then, in 1947, the manufacturer made a decision to launch a white version, which was only the beginning on the style diversification that adopted afterward. In 1966, as a result of on the pressure exerted by basketball groups, they begun out employing other colours too. In more modern-day times, commencing with 1970, converse sneakers also diversified their choice of components, heading from canvas to hemp, leather-based, vinyl or suede. Additionally they commenced diversifying their models, creation pretty low-cuts and knee-large versions. <a href=http://www.camoloverstore.com/michael-michael-kors-bedford-camouflage-hair-calf-zip-clutch>michael kors camo clutch</a> cyan converse all star- The popular Red and Blue Trim Converse <a href=http://www.canadagoosetmall.com/>canada goose jackets outlet</a> This is certainly by drastically by far the most well-liked sneaker model marketed as many as current. They at first arrived as a supporter on the 1936 Olympics, for which the patriotic shades 閳?crimson, white and blue had been utilized. Then the extent of recognition from the model went via the roof once the US Olympics basketball workers, sporting the well-known Converse sneakers, won their online video video game along with the Canadian basketball crew. Of coaching program, white converse all star <a href=http://www.canadagoosetmall.com/>canada goose parka outlet</a> obtained some credit rating for that acquire. Then, the Canadian Jack Purcell allowed Converse to use his title in 1935 for his or her recently intended badminton footwear, which he will credit rating with not considerably less than 5 successive championship wins. <a href=http://www.camoloverstore.com/michael-michael-kors-hamilton-traveler-camouflage-satchel-tote>michael kors camo handbag</a> In 1949, there arrived a single extra strike by Converse 閳?their black and white All Stars variation. The item turned the formal shoe representing the NBA (Countrywide converse sneakers inventory Affiliation). The considerably fewer athletic edition of the shoe 閳?the very low leading product, intended for normal persons in the society, was nonetheless an additional fantastic strike which was released in 1957. To at the present time, Converse has turn into recognized as being a trend setter, great section of this achievements starting to be assigned to their impressive Converse All Stars footwear. <a href=http://www.canadagoosetmall.com/>canada goose online store</a> low-priced converse all star shoes <a href=http://www.moschinooutletmall.com/wallets.html>moschino wallet</a> For about a hundred several yrs, Converse Chuck Taylor All-Star are already an U . s . and Canadian civilization megastar. It absolutely was 1917 in Malden Manolo Blahnik Sandals, Massachusetts when Marquis M. slippers converse as well as Converse Rubber Shoe Small business released the earth the extremely earliest Converse All Star Sneakers Line.

bride

Everything for your wedding

A themed photobooth for your wedding

Covering Cheshire, Staffordshire, Manchester and beyond, The Jolly Good Photo Co has a ph...

Bride Debate: Where to find the perfect wedding dress

When it comes to your wedding dress, how do you find the one ? Bride editors, Amanda Gri...

Wedding Venue Fact File: Harefield Barn, Devon

The venue with the view; have your wedding day your way at Harefield Barn in Crediton ...

Bride Debate: Who should you choose for your bridal party?

From bridesmaids to flowergirls and page boys, who should make the cut for your bridal pa...

A Christmas bridal shoot in Hertfordshire

Celebrating a successful year for weddings in 2019, this Christmas shoot draws on the tal...

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

the wedding show