The tradition of celebrating an engagement with the gift of a natural diamond ring is largely an American custom. The custom helps drive 2002 retail sales of all diamonds in the USA ($27.4 billion) to 50 percent of global revenues. As a result, anything affecting the US diamond market, especially with diamond engagement rings, is likely to have worldwide implications for the natural diamond marketplace. Millions of American couples are now cohabitating prior to engagement or marriage, and the diamond industry can be facing some unusual social and economic forces. This article reports on a study a study to determine how a group of younger persons, mainly between the ages of 20 and 30, view the desirability of engagement ring purchasing.
Fram, E.H. and Baron, R. (2004), "Are natural diamond engagement rings forever?", International Journal of Retail & Distribution Management, Vol. 32 No. 7, pp. 340-345. https://doi.org/10.1108/09590550410541453
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