Top engagement ring trends for 2020
Continuing the trend from 2019, in which almost 50% of engagement ring sales were of personalised creations, bespoke remains king in 2020! For buyers on a more modest budget finishing touches are becoming increasingly popular, whereby ready to wear pieces are given a unique makeover by a workshop to make them one of a kind. This can be as simple as refining the texture or the finish of a wedding band to a customer’s desired preference. Over recent years the rise in demand for coloured gemstones has gathered pace. Whilst the big three (emerald, ruby and sapphire) are the main focus of the colour revolution, increasingly lesser known coloured stones are rising in popularity. This offers more choice to people who are looking for more affordable personalised creations. Often this involves a combination of coloured gemstone centre stones, such as morganite, aquamarine and topaz, with diamond halos and / or flanking stones.
Millennials are coming to the fore as a consumer force in the market and they make buying decisions based upon their beliefs, many of which centre upon fair trade, environmental considerations and transparency. These are rapidly becoming the key to engaging with the fastest growing consumer segment and these beliefs are held far dearer to those concerned than the attractiveness of the price of an item. The trend set by CanadaMark in the past decade has shown the way. Consumer trends are also moving towards more unusual shapes and colours. In conjunction with the shift away from diamonds to coloured gemstones, within the diamond segment of the market coloured diamonds are becoming increasingly popular. Later this year the Argyle mine in Western Australia, which is responsible for 90% of the world’s pink diamond production, is due to close and this is creating a ‘dash for pink!’
In terms of jewellery design trends, in many cases it is back to the future as Art Deco, Victorian and Vintage creations are becoming increasingly popular. One aspect of this trend that is coming to the fore is the remounting of family heirlooms back to their original Victorian or Edwardian settings. There has also been an increase in demand for antique pieces, as well as the refashioning of antique pieces into a hybrid bespoke creation with some history and character.