6 Reasons You Can Blame the Recession on Engagement Rings
Introduction
Engagement rings are a beautiful symbol of your love and commitment to each other, but they're also meant to be an investment. Buy engagement ring online shopping can feel like a stressful experience because of all the decisions you have to make: Should it be a diamond or gold? How much should it cost? Do you want it set with sapphires or emeralds? The good news is that engagement rings aren't just for couples who want them; there are plenty of reasons why people might be thinking differently about buying one. Here are some examples:
It All Started With a 60-Second Commercial
The first and most obvious reason for the recession is that diamonds were so expensive in the early 2000s. The price of a single diamond went up by nearly 50 percent, which led to people spending their money on other things instead of buying men’s engagement rings.
To make matters worse, during this time period there was an enormous amount of advertising for diamonds—you might have even seen commercials like this one:
Thanks to the Recession, People Are Actually Buying Custom Engagement Rings
If you’ve been wondering whether the recession has affected your engagement ring buying habits, here are five reasons why it might have:
People are more likely to buy a custom engagement ring now than they were during the last economic downturn. With so many companies suffering from financial problems, there has been an increase in demand for custom-made jewelry especially when it comes to diamond engagement rings. This means that if you want something special but don’t want to spend too much money on it (or if you simply don't trust yourself), now is the time! Plus, these days people tend to stick with their original ideas when picking out their future wife/husband's rock—which means that even if your idea isn't exactly what she wants anymore after marriage...well...at least she'll always remember how much fun planning her big day was!
The Internet Has Changed How We Buy Engagement Rings, Forever
The internet has changed how we buy engagement rings forever. Before, you had to go into a store and look over all the selections in person. And if you wanted something with some hidden meaning, or if your hands were too small for diamonds... well that meant taking out your credit card and shelling out hundreds of dollars on something that might not even fit!
The Internet has made it easier than ever before to shop for couple engagement rings. You can find pictures galore of gorgeous jewelry on websites like Pinterest and Instagram—and with so many options available at any given time (especially these days), there really isn't an excuse not to get engaged now! But what about customization? Do they still exist? Absolutely!
If someone were looking at just one thing when buying an engagement ring nowadays: They would probably want something custom-made just for them—and why wouldn't they?
Millennials are Waiting Longer to Get Married
Millennials are waiting longer to get married.
Millennials are more likely to live with their partners before marriage, and they're also more likely to consider marrying someone who has a steady job. These factors have led many young adults to postpone the traditional wedding ceremony for years at a time—and sometimes even indefinitely.
According to a recent report by The New York Times, 58% of millennials who will marry in 2020 will not do so until after 25 years old; this is compared with only 21% of Gen Xers and 16% of baby boomers who said the same thing about themselves (though it should be noted that there isn't much data available on how many people actually do this).
The Recession Caused Parents to Pass Down Their Heirloom Engagement Rings
The recession caused parents to pass down their heirloom engagement rings.
Parents may be reluctant to pass down their wedding rings online because they are expensive, sentimental, or both. This isn’t a new phenomenon; it has happened in times of crisis throughout history.
However, this is not necessarily a bad thing for the economy; it helps people keep the money circulating and makes them more willing to spend if they feel like there’s more demand for goods and services than supply!
Millennials Like Unique, One-of-a-Kind Engagement Rings with Meaning
Millennials are more likely to buy engagement rings that have meaning.
Millennials want to make sure the ring is unique, and not just a piece of jewelry. They want their fiancée's engagement ring to be something they can tell her stories about as she grows older with them—something that will last long after the couple has gone through their ups and downs in life together.
There are many reasons people are thinking differently about engagement rings.
There are many reasons people are thinking differently about Halo engagement rings. One of the most obvious is that the recession caused people to think differently about engagement rings, as well as how they buy them. In a 2011 survey by KAY Jewelers, only 1 percent of millennials said they would choose a traditional diamond ring over another design or material if given the option (the same percentage as Generation X). The recession also changed how we view marriage in general; it's now seen less as an institution that must be maintained and more like an adventure with ups and downs (or even just one). And then there's the internet—a place where you can buy anything from anything without actually having to go out into space yourself!
Millennials don't want just any old engagement ring; instead, they want something unique and meaningful that reflects their personality traits so perfectly it makes them wonder why everyone else isn't wearing it too!
Conclusion
The engagement ring has always been a symbol of commitment and love, but the recession brought something new to the table: Platinum engagement rings started being worn as a form of resistance. Today’s millennials are not only choosing unique, one-of-a-kind engagement rings with meaning or by their own handcrafted designs—they’re also refusing diamonds altogether in exchange for more affordable alternatives like silver or even recycled metals.
And while the idea may seem counterintuitive at first blush (why would anyone want anything less than perfection?), it actually makes sense in light of these recent trends: many millennials are waiting longer before getting married due to economic pressures (which means they have less money saved up), so they want something that will last longer than traditional diamond options could offer them; as well as just generally caring more about sustainability and sustainability issues overall (due again
