The State of Engagement Rings: An Analysis of Preferred Engagement Ring Styles, Trends, and More

As the holiday season is the perfect time for a proposal, it got us wondering what people prefer when it comes to their ideal engagement ring styles and the overall ring-shopping experience. We asked 1,000 engaged and married women across the U.S. in a survey that ran October 6-8, 2022, to discover if and how engagement ring trends are changing. From vintage to modern settings, lab-grown to natural diamonds, and every other option in between, keep reading to find out what type of rock most women want on their hands!

The Ideal Engagement Ring

As engagement ring trends have changed through the decades, we’re curious about which style of ring women have their eye on nowadays. If they could build one from scratch, we wanted to know what their perfect engagement ring would be! 

As the center stone is the star of any engagement ring, most respondents would opt for a natural diamond, but lab-grown diamonds would be their second choice. Plus, at Shane Co., our lab-grown diamonds allow you to purchase a bigger diamond for your budget — yes, please!

According to those surveyed, the ideal engagement ring also includes:

• A round center stone
• White gold
• A solitaire setting

The largest portion of survey respondents (18.4%) say that cut is the most important feature of an engagement ring. Since you’ll be admiring your diamond for a lifetime, it makes sense that you need to fall in love with its cut first and foremost!

Whether you go shopping for an engagement ring with your partner or let them do all of the guesswork, 35.9% of women revealed that its beauty and style was the most important factor to take into consideration. A popular engagement ring can be mesmerizing due to its beauty!

Other important factors when shopping for an engagement ring include:

• Quality (23.6%)
• Price (19.3%)
• Ethically sourced/conflict-free (8.1%)
• Durability (7.9%)
• Other (3.2%)
• Origin (1.4%)
• Convenience (0.5%)

When you’re shopping for an engagement ring, it’s hard to decide which carat size you should get. Modern engagement rings come with diamonds of all different sizes, so truly it’s left up to personal preference and budget.

While all diamonds sparkle, most Americans’ engagement rings are 0.5 to 1.0 carat (36%). 26% of respondents own an engagement ring with a diamond between 1.1 and 1.5 carats, followed by 21% whose diamond is below 0.5 carat.

The Engagement Ring Purchase

Shopping for an engagement ring is an extremely special moment in your relationship. While there’s no rule book to follow when it comes to paying for the ring, we wanted to find out how most couples went about it. 

Most Americans paid between $2,001 and $5,000 for their engagement ring (41%) while others chose to pay:

• Between $5,001 and $8,000 (27%)
• $2,000 or less (21%)
• Between $8,001 and 10,000 (6%)
• Between $10,001 and $15,000 (3%)

A credit card is the most common way to pay for your future fiancée’s ring (35.8%). Our Shane Co. Credit Card allows you up to 18 months of special financing, so nothing is standing in the way between you and the engagement ring of your dreams!

Other popular options included point-of-sale financing (8%), which allows you to pay in installments over time through companies like Affirm or Afterpay. Other respondents dipped into their savings to pay with a debit card (29.3%) or with cash (19.4%).

When it comes to engagement rings, most women aren’t taking any risks, as 31% of respondents were with their significant other when they purchased the ring. Surprisingly, 30% say their partner completely surprised them with the ring!

Online vs. In-store Purchase Preferences

Despite being able to purchase virtually everything online nowadays, most respondents would feel more comfortable shopping for an engagement ring in-store (64%). At Shane Co., we offer both in-store and virtual appointments to make the process as smooth as possible! Read on to see how respondents feel about online shopping:

• 44% of respondents would purchase an engagement ring online without seeing it in person first, while 56% would not.
• The largest portion of respondents (nearly 30%) purchased their engagement ring in-store from an independent or private jeweler, followed by 28% who purchased theirs at a national jeweler, and 14% who purchased their ring online.

From bridesmaid dresses to wedding gowns, there’s nothing you can’t seem to order for weddings online — including an engagement ring. According to those surveyed, their top reasons for ordering an engagement ring online include:

• Competitive prices (32%)
• The convenience of shopping online (22.1%)
• Broader selection (21.5%)
• Easier to comparison shop (10.1%)

There’s nothing quite like trying on rings or seeing diamonds sparkle in person. Visiting a jewelry store and seeing their selection may help you to narrow down your preferred setting style and diamond shape.

Respondents said they’d shop for an engagement ring in-store in order to:

• See, touch, and feel the diamond (61.2%)
• Get in-person customer service and expertise (12.4%)
• Be less likely to get scammed (9.6%)
• Support local businesses (7.6%)

Lab-grown vs. Natural Diamond Preferences

Since lab-grown diamonds are relatively new to the market, we wanted to discover everyone’s preferences. Both lab-grown diamonds and natural diamonds are considered real diamonds and are the same, chemically speaking; however, lab-grown diamonds allow you to purchase a bigger diamond for your budget!

We hand-pick the finest lab-grown diamonds, giving you peace of mind that your diamond will be of the highest quality. Available in a range of shapes and carat sizes, you’ll be sure to find the perfect one that suits your tastes! Keep reading to find out how lab-grown diamonds vs. natural diamonds measure up!

• 55% of respondents would prefer to have a 1-carat natural diamond, while 45% of respondents would prefer to have a 2-carat lab-grown diamond.
• 1 in every 10 respondents thinks they could tell the difference between a lab-grown and a natural diamond.
• 1 in every 3 respondents (33%) doesn’t feel one way or the other about the origin of their engagement ring diamond.
• The majority of respondents (59%) think sustainability and ethical sourcing are important when making an engagement ring purchase.

Diamond Upgrades & Proposal Preferences

Whether you get proposed to on the beach or at a family gathering, sweet proposals mark the next chapter in your relationship. After the excitement dies down, we wanted to find out whether women wished for an upgrade or desired a new engagement ring. Keep reading to see if their partners got their engagement ring styles right!

• The vast majority of respondents (90%) are happy with their current engagement ring.
• 1 in 10 respondents is not happy and wishes to upgrade or trade in their current engagement ring.
• 36% of respondents say they would consider upgrading their diamond’s carat size at some point.
• 89% of respondents would prefer their proposal to be private (i.e., where just the two partners are present). Only 11% of respondents say they would prefer a public proposal.
• The majority of respondents (64%) would feel disappointed if someone posted a video of their proposal on social media. Overall, respondents want to keep proposals between themselves and their partners.

Closing Thoughts

Shopping for an engagement ring is one of the most precious moments of your life. Most likely, you’ll spend hours and hours recounting the event to your family and friends until you’ve reached the wedding day. 

Whether you prefer traditional or more modern engagement rings, we have every type of style to meet your vision. Plus, our selection of popular engagement rings can be set with natural or lab-grown diamonds for a sparkly look. View our selection of engagement rings and learn about the benefits of lab-grown diamonds!