Apparently, one of the post-pandemic effects is that all those who ever thought of getting married are accelerating their plans, perhaps if another global pandemic occurs. The fact is engagement ring sales have exploded in recent months due to this new development.
The information was released by the CEO of De Beers Group, the world’s largest diamond producer. Bruce Cleaver said the company was having “a strong demand for rough diamonds” due to demand in the main consumer markets, mainly the United States and China.
In this sense, The Clear Cut, a company that sells engagement rings located in New York but specializes in online sales, reported that since this spring of 2021, the sales of rings with diamonds have quadrupled, compared to the sales of 2020 in the same period.
Even the New York jewelry has ensured that since the month of May, the majority of customers have announced that they will visit their showroom in person to try on and choose rings on the spot and not on the website.
Likewise, an executive of the Shane Co jewelry stores, with branches in some 14 cities in the United States, also assured that with the return to normality of the couples, the marriage plans were resumed, and therefore the sales of the rings increased. Mark Broumand from Los Angeles, a well-known jeweler, told CNN that he has indeed seen an increase in demand for engagement rings. Broumand assures that in June 2020, its sales fell by up to 40%, now in June 2021, sales have recovered even 20% more than in the same period in 2019.
The apparent reason is, in the first place, that epidemiological data has dropped, and this has prompted many couples to resume plans that stayed in the “we will see” condition a year and a half ago. And another reason, probably, is that faced with the threat of new variants of the virus and new waves of infections, many prefer to carry out plans of the type; family, travel, vacations, removals, marriages, renewal of vows, among others. Many jewelers believe that customers are finally putting the money saved during the pandemic to use either to purchase new rings or to upgrade their current rings. It was also known that gemstone prices rose substantially since Covid-19. In this sense, the Gemological Institute of America (GIA), an organization that trains jewelers and maintains the standards of diamond grading services, ensures that requests for laboratory services have been “historic,” as confirmed by Tom Moses, the Executive Vice President of GIA.