There is an underlying fear in the jewelry industry that millennial and Generation Z shoppers aren’t interested in diamonds. While there is research both for and against this argument, the word from the shop floor is that these segments are still buying diamond engagement rings — but they want their rocks with a twist.
The round solitaire might have been the traditional choice of their parents and grandparents, but this generation is more playful when it comes to diamond cuts. Retailers and brands have reported that alternatives such as Asscher, emerald and pear cuts are all proving popular, as well as more edgy choices.
“Millennial and Gen Z brides are looking for something they feel is an authentic representation of themselves,” says Elizabeth Doyle of vintage and antique jeweler Doyle & Doyle, who believes younger shoppers are also finding their way to her pre-owned jewels for ethical reasons. “Rather than opting for a traditional solitaire with the emphasis on size, color and clarity, they are focusing on interesting shapes and cuts. Geometric step cuts have been very popular recently: Octagons, hexagons and lozenges make striking focal points whether in a solitaire or more ornate engagement ring.”
Sometimes, the twist comes not just from the cut of the diamond, but also the setting. “[These] brides are looking for something unique and unexpected, while maintaining a timeless feel,” says New York bespoke jeweler Lauren Addison. “For some brides, that may mean opting for a fancy-shaped diamond, and for others that may mean setting the diamond in an unconventional way. We’ve combined both of those approaches by setting an oval-shaped diamond in an east-west manner.”
Another recent engagement-ring design that Addison says captured this zeitgeist was a round diamond in a platinum six-claw setting that appears to float above a diamond-set, yellow-gold crossover band. “It appears to be classic and timeless, but its floating silhouette, asymmetrical nature and use of mixed metals provide the contemporary feel that today’s millennial/Gen Z bride is looking for,” she says.
The other consideration for younger shoppers is price. With college debt, fledgling careers, and financial priorities that favor vacations and experiences over hard luxury, it is little wonder that bridal brand Kirk Kara has seen a tendency toward minimalism. “We are noticing a trend in more delicate, daintier designs,” says creative director Grace Terezian. “They still love all the details and nature-inspired styles, just toned down.”
This has also inspired a new line of Kirk Kara engagement rings in 14-karat gold with rose-cut diamonds. “These pieces are all less than $3,000, complete with a 0.50-carat, round rose cut in the center,” she says. “It fits the trend of those wanting lower-price-point bridal.”
Anything but white
Not every bride wants a huge hunk of white diamond on her finger to seal her union. There are myriad reasons for this, from saving money to following in the footsteps of British royals, or just falling in love with a gemstone they feel better suits their personality.
“I’ve recently seen a surge in requests for ‘anything but white diamond,’” says Santa Monica, California-based bespoke jeweler Edward Avedis, who has created custom designs for stars including Ben Affleck and Bryan Cranston. “White diamonds are not gone, but there is definitely a recent surge in colored.”
When it comes to which colored gemstones are most appealing to those seeking out his engagement rings, the range is diverse. “Blue sapphires, or almost any color sapphire, padparadscha sapphire, champagne and yellow diamonds, morganite and emeralds,” he reels off. “Mixing up the colors — for example, a green emerald with black diamond halo, or morganite with black diamond halo.”
While New York-based jewelry designer Nora Kogan argues that “I couldn’t give emeralds away if I tried,” she says sapphires and tourmalines are selling well. “I’m currently working on a tourmaline ring that’s based on one I just made for myself and that was the prototype for my new wedding collection,” she says. “[It’s a] rose-colored, emerald-cut tourmaline, bezel-set in a wide band with my new signature mosaic-style pavé.”
The wide variety of colored gems replacing the traditional white diamond reflects the trend of celebrating individuality, according to Natalie Rodriguez of colored-gemstone jewelry supplier Omi Privé.
“The trend we have seen is brides taking a much more active role in selecting the gemstones or the setting for their engagement rings,” she says, adding that hard stones like alexandrite, spinel, sapphires, Paraiba tourmaline, and ruby all make great choices, as they withstand daily wear and tear. “They want it to express their individual style. Ring styles still trend towards classic, but a bright pink padparadscha sapphire is still considered a unique or alternative choice by a bride."
Second time around
The divorce rate might be dropping in the US (down 18% from 2008 to 2016, according to the University of Maryland), but there are still plenty of women out there tying the knot for the second time. In 2014, the Pew Research Center found that 40% of new marriages from the previous year had at least one partner who had been married before.
For brides-to-be who are planning second marriages, there are a few major differences when it comes to shopping for the engagement ring. While every customer is different, a general rule of thumb is that experienced brides are more tuned in to what they want. As the other half of a young couple just starting out, they might have had to make do with a less expensive ring. Now that their lives are more established — perhaps with grown children and better-paying jobs — the budget is often more substantial. Second time around, the
focus is on doing it right and making up
for past regrets.
“Quality is the key word for customers entering into second marriages,” says Jared Silver, president of Stephen Silver Fine Jewelry, which has two stores in California. “They are seeking something rare and precious, often both bigger
and better.”
The average amount spent on an engagement ring in the US last year was $5,680, according to The Knot’s 2018 Real Wedding Survey, but Avedis says his second-time brides are spending an average of $20,000.
While the price tag gets bigger, the better part of the equation can come from the freedom second-time brides feel when choosing their rings. Just as the white dresses are often consigned to the wedding photos of their first marriages, so, too, are the obvious engagement- and wedding-ring choices.
“They are not as trend-driven, and willing to opt for something more unusual,” says Doyle. “They want something different from the first time around. They are generally more mature and confident in their choices, so they are willing to choose something less mainstream.”
Older brides, with more disposable income, might also spend on additional items around the wedding celebration. “Second-time brides may splurge on high-end pieces for the wedding day, like an important estate necklace or earring set,” says Silver. “Some also purchase dress timepieces for their partners as a traditional groom’s gift.”
LGBTQ+ weddings
In the summer of 2015, the US Supreme Court ruled that states could not ban same-sex marriage, and since then, the number of weddings within the LGBTQ+ community has risen. In 2017, 61% of same-sex cohabiting couples were married, compared to 38% in the months before the ruling, according to research by Gallup.
And the good news for jewelers is that this booming segment of the bridal market still wants wedding rings. While LGBTQ+ couples tend to be less likely than straight couples to uphold the traditions surrounding the ceremony, rings are one custom they are not willing to skip. A 2018 survey of married or engaged same-sex and queer couples, carried out by the Equality Institute, found that 90% had bought or planned to buy wedding rings.
Most couples (77%) bought two wedding rings, with a further 11% using commitment rings already within their collections. As for engagement rings, preferences were split. While 34% of couples bought two engagement rings and a further 19% bought one engagement ring, 36% bought none.
Those who buy rings tend to focus on crafting something truly personalized. “While the way many celebrate same-sex marriage isn’t much different than any other kind of wedding, they can often be unique because the couples like to put their own spin on style, and form new traditions where there may not have been traditions before,” says Andrew Brown, chief executive of WP Diamonds, which has created bridal ranges targeting LGBTQ+ couples. “Rainbow colors [represented by colored gemstones] are quite popular, but so are customized matching designs ranging from minimalistic looks to more intricate details.”
The other thing LGBTQ+ couples look for when ring shopping is jewelry stores that speak to them. The Equality Institute found that 83% wanted to see images of other LGBTQ+ couples on a business’s website, with 79% looking for inclusive text on the home page.
While the LGBTQ+ community itself is a rainbow of different traits and preferences, Illinois jeweler Steve Quick has observed trends that link to a couple’s orientation.
“Our lesbian couples tend to be very traditional in their choices, preferring classic diamond engagement-ring styles,” says president Melissa Quick. “They don’t want matching, but they both want a diamond-centric ring. The guys are a little more adventurous and want wide bands, with a more funky or embellished design. We also find that our gay men like to match more than our lesbians do, and we often order doubles of the same design.”
Image: Kirk Kara diamond
engagement ring.Article from the Rapaport Magazine - September 2019. To subscribe click here.