US Weddings and Spending to Boom in 2022
A new report published by market research company Wedding Report states that the number of wedding ceremonies in the US is forecast at 2.47 million in 2022, according to IDEX Online.
As couples reschedule their weddings after several lockdowns, this figure is almost double the 1.27 million ceremonies held in 2019, and up significantly on 2021 (1.93 million ceremonies).
The report adds that the overall spend per wedding will be up to $24,300. The 2021 average is $22,500. This, according to IDEX Online, will “provide jewelers with an extra boost. 2023, says Wedding Report, “ is likely to revert to a post-pandemic ‘normal’.”
Recently, London-based Taylor and Hart commissioned a report that says that demand for men’s engagement rings has risen 69%. The driving factors behind the increase are “popularity of LGBTQ+ marriages and the growing trend of women proposing”. According to the report, the number of women proposing had trebled since 2010. In addition, 7 out of 10 men said they would be “happy to receive a proposal”.