GITNUX MARKETDATA REPORT 2024

Statistics About The Average Price For Wedding Ring

The average price for a wedding ring is around $5,900.

Last Updated: June 23, 2024

How we write

In this post, we will explore the varying costs associated with engagement and wedding rings around the world. From the average amounts spent by Americans on engagement rings to the price ranges in different countries, we will break down the statistics to give you a comprehensive overview of the prices people are willing to pay for these special pieces of jewelry.

Statistic 1

"The average amount Americans spend on an engagement ring is $7,750."

Statistic 2

"In 2019, the average cost of an engagement ring in the US was $5,900."

Statistic 3

"In 2020, consumers spent an average of $5,500 on engagement rings."

Statistic 4

"In the UK, the average spend on an engagement ring is £1,483."

Statistic 5

"Most people spend $1,000 to $5,000 on an engagement ring."

Statistic 6

"Average price for a wedding band for men is between $350 to $1500."

Statistic 7

"Women's wedding bands range from $150 to $5,000 on average."

Statistic 8

"Millennials spend an average of $3,000 on an engagement ring."

Statistic 9

"Individuals aged 35-44 spend an average of $8,200 on engagement rings."

Statistic 10

"Vintage engagement rings have an average cost of $2,695."

Statistic 11

"The average Canadian spends CAD 3,500 on an engagement ring."

Statistic 12

"In Japan, the average price for a wedding ring is around 300,000 yen ($2,823)."

Statistic 13

"In Singapore, the average price for a wedding ring ranges from SGD 1,500 to 2,500."

Statistic 14

"The average spend on wedding bands for both bride and groom was $1,900 in 2020 in the US."

Statistic 15

"The average cost of a Tiffany setting engagement ring is $12,600."

Statistic 16

"According to a 2020 study, an engagement ring costs an average of $2,500 to $5,000 in Europe."

Statistic 17

"The average price of a South African engagement ring is around R25,000."

Statistic 18

"In India, the average cost of an engagement ring starts from INR 30,000."

The statistics on average prices for wedding and engagement rings show a wide range of spending habits across different countries and demographics. Americans tend to spend significantly more on engagement rings than individuals in the UK, Canada, Japan, and Singapore. Millennials typically spend less than older age groups, with individuals aged 35-44 allocating the highest average budget for engagement rings. The prices for wedding bands also vary, with men’s bands generally costing less than women’s bands. Overall, these statistics highlight the diverse cultural and generational factors that influence the average cost of wedding and engagement rings worldwide.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

Can You Trust Our Report?

The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.