Engagement Ring Spending Flatlined in 2018, Survey Shows

Tucson, Ariz.—There was no spike in engagement ring spending in the United States last year, part of an overall trend of couples tightening the belt on their wedding budgets, a new survey shows.

On Sunday, The Wedding Report, a Tucson-based research company that tracks and forecasts spending and trends in the wedding industry, released full-year 2018 data.

The data is based on 6,792 surveys collected between Jan. 1 and Dec. 31, 2018 and includes both couples who were already married and those who had spent money on their wedding but hadn’t yet tied the knot when they took the survey.

Overall, The Wedding Report found the average cost of a wedding in the U.S. slipped 4 percent, from $25,764 in 2017 to $24,723 in 2018.

It was the first time since 2009 that the average cost of a wedding has slipped below $25,000 in The Wedding Report’s year-end survey and was on par with what consumers spent in 2008, when the average was $24,100.

Spending across almost aspects of the ceremony and reception declined or was flat, including spending on engagement rings and wedding bands.

According to the survey, the average amount spent on an engagement ring in 2018 was $3,388, down less than 1 percent from $3,402 in 2017.

Spending on the wedding band for her was $775, down only slightly from an average of $782 in 2017. The average amount spent on men’s bands was $454, virtually unchanged from $455.

Spending for other wedding jewelry—bracelets (average of $174), earrings ($151) and necklaces ($199)—also was flat year-over-year.

The engagement ring figure from The Wedding Report is always lower than what The Knot reports in its various surveys; the latest figure from the popular wedding planning website had average engagement ring spending at $5,764.

The Wedding Report founder and CEO Shane McMurray said Monday he believes the difference is that people who use The Knot are, for the most part, planning large weddings with bigger budgets and, therefore, have more money to spend on engagement rings.

His survey, meanwhile, cuts across a broader socioeconomic swath, encompassing everyone from couples getting married at the courthouse and holding a reception in the backyard to those planning a more traditional, higher-cost ceremony.

While the numbers might be different, both The Wedding Report and The Knot’s 2017 Real Weddings Study (the 2018 version is due out later this week) are reflective of the same trend: Consumers are