Jan 30, 2024
In National Survey of Engagement Ring Trends, Angara reveals consumers are gravitating toward lab-grown, colored gems and larger stones
LOS ANGELES, January 30, 2024 (Newswire.com)
Angara, the leading international online jeweler, today released its first annual “Engagement Ring Trends Report” emerging from nationwide survey data. The survey polled 2,000 respondents with engagement rings to explore rising consumer trends, revealing preferences toward colored gemstones, lab-grown and larger-sized stones.
Survey data includes:
- Interest in colored gemstones rather than diamonds: 23% of respondents would replace their current stone with a colored gemstone, compared to 5% preferring colored gems a decade ago.
- Preference toward lab-grown over natural stones: 38% of Gen-Z respondents gravitated towards a 3-carat lab-grown stone rather than a 1-carat natural stone. Additionally, about half (48%) of Gen-Z respondents recognized lab-grown as real stones compared to 88% of Baby Boomer and Silent Generation respondents reporting lab-grown as artificial stones. The data indicates a larger acceptance and pull toward lab-grown for younger generations.
- Stones larger than .5 carats: A majority (73%) of respondents preferred an engagement ring with a stone larger than .5 carats, with the ideal size ranging from 1 to 3 carats. Additionally, more than half (51%) of those surveyed would prefer to upgrade their current stone for a larger stone in their engagement ring, if given the opportunity.
“Our survey illuminates the evolving landscape of engagement rings and consumer preferences,” said Ankur Daga, CEO and co-founder of Angara. “We’re seeing a societal pivot toward unique, colorful expressions of commitment and love. Our trend report reflects that pivot, showing a cultural shift away from traditional, colorless diamonds and toward a new wave of colorful engagement ring preferences.”
Angara’s Engagement Trends Report also found 50% of Gen-Z would either choose a three-carat lab-grown diamond over a one-carat natural diamond or had no preference between the two, a vast difference compared to Baby Boomers, 58% of whom would opt for a one-carat natural stone over the larger lab-grown diamond. This trend exemplifies the growing acceptance of lab-grown stones.
“The emergence of lab-grown technology has unlocked affordable options for consumers searching for their dream ring so they can achieve the look they want at a price point they can afford,” continues Daga. “With the rise in popularity of lab-grown stones and shift away from natural stones, we’ve seen the average stone size increase from under one carat five years ago, to at least two carats today. Lab-grown gemstones and diamonds are here to stay and will only continue to dominate the industry as younger generations continue to embrace them.”
Angara is an online DTC fine jewelry retail brand, offering handcrafted jewelry dressed in natural colored gemstones, high-quality diamonds, and pearls, with every piece made-to-order.
Source: Angara Inc.