The holidays are also known as “Proposal Season,” since 37% of couples get engaged between Thanksgiving and the New Year. And just in time, wedding site The Knot has released their annual Jewelry & Engagement Study. Some stats:
- In 2017, the average engagement ring costs $6,351, up 25% since 2011.
- 70% of grooms said they decided on the ring budget on their own.
- 8% of grooms said they decided on the ring budget with their partner.
- 29% of grooms said they spent more than they'd planned.
- 70% of brides reported knowing how much their partner spent on the engagement ring.
- 90% of brides said they were happy with how much their fiancé spent on the ring, 6% wish they'd spent more and 4% wish they'd spent less.
- 33% of couples shopped for the ring together.