They say diamonds are forever – but the tradition of proposing with a diamond engagement ring is apparently falling out of favour.
Instead we’re opting for emerald, sapphire or ruby rings, according to new research from insurer Allianz.
So what’s the reason for the switch? It’s all to do with how expensive they look, rather than how much they actually cost.
Anusha Couttigane, a senior analyst at Kantar Retail, told The Telegraph: “There’s still a lot of demand for solitaire diamond rings, but there has been growth in non-traditional designs which use a range of cheaper, coloured stones too.”
And in today’s world, with ever rising living costs for millennials and increased spending habits, it’s hardly surprising that couples are opting to save for the future, with Allianz revealing the average spend for an engagement ring is now around £575.
“A generation of marital age people are now prioritising other things such as weddings, housing and the cost of having children, rather than splashing out on a really expensive ring,” Couttigane added.
And if you think your ring looks familiar, that’s probably because it is. Second-hand rings are also seeing a rise in popularity, as we look back to old trends for inspiration.
“People who aren't marrying for the first time are often looking for a simple design having chosen a large stone, or statement ring the first time."
Words: Sarah Finley
Images: Rex features