22 Jan All about the ring
Engagement season is upon us.
Forty-seven percent of wedding engagements occur between Thanksgiving and Valentine’s Day.
Roughly 1.9 million couples will purchase an engagement ring this year, according to theweddingreport. That’s a lot of rings. Couples they make their choices close when they get engaged with 37 percent purchasing one month before and more than 70 percent within three months before the engagement.
Although brides and grooms say they research ring choices online, 80% of engagement rings are actually purchased locally, according to costofwedding.com. Apparently seeing is believing when it comes to diamonds.
The engagement ring business alone is a more than $6 billion dollar business in the US, with the cost of the ring averaging $3,216 dollars.
Now is the right time for local media companies to help jewelers in their communities get in front of young couples. Take a look at this video of how one of our clients did it
To size your market for engagement rings simply multiple this average times number of weddings in your market this year. If you don’t know how many weddings your market will host in 2015, give us a call and we will tell you.