The pandemic continues to change the world as we knew it in strange and unexpected ways.
Data research firm IBISWorld has reported that, in America at least, around 80 percent of couples are planning smaller wedding celebrations and redirecting their wedding dollars. The cash saved on big parties is often being spent on flashier engagement rings.
De Beers has reported at 12 percent rise in the sale of engagement rings, with much of the growth coming from larger stones. Other jewellers have seen an uptick in the sale of diamond-encrusted wedding bands for men.
“Bridal revenue has literally spiked” during the pandemic, said Amish Shah, president of ALTR, a New York based company that specialises in lab-grown diamonds. “Those who could afford it are getting even larger diamonds.”
US-based Signet Jewellers, the parent company of Zales, Kay and People, reports seeing higher demand for larger and more novel cuts of diamonds, including pear and heart shaped stones for both men and women.