Downturn Hits Engagement Plans

Published on 13/03/09

The economic downturn is affecting the size of engagement band women receive, according to a source.

Carlee Kelly, a manager of a US-based retailer, told Medill Reports that consumers want more for their money when it comes to buying gold and platinum diamond rings.

She said the grade of a gemstone is proving to be particularly important to those looking for such items during the economic downturn.

Koorosh Daneshgar, chief executive officer for Koorosh and Valencia, echoed these thoughts, telling the news provider that shoppers for gold diamond rings are very much thinking of their wallets.

He said: "Right now people are coming in with budgets. Before, they used to come in with love."

Last month, it was revealed that despite the credit crunch, Britons were still planning to spend money on their loved one for Valentine's Day.

A study by the Co-operative found that loved-up men were willing to part with as much as £100 to mark the occasion.