Walmart Survey Finds Two Months’ Salary for Engagement Rings is a Thing of the Past
Nearly 60 Percent of Americans Think Less Than $2,000 Should be Spent on an Engagement Ring
Walmart Expands Assortment of Quality, Affordable Engagement Rings that Will Make Couples Say ‘YES!’
BENTONVILLE, Ark., February 2013 – Thinking of popping the question? When it comes to buying the perfect ring, you don’t have to break the bank. Walmart today announced the results of its Engagement Survey which demystified the perception that two months’ salary is the appropriate price for a ring and found that nearly 60 percent of Americans surveyed think that less than $2,000 should be spent on an engagement ring.
“Couples today face a lot of financial pressures and we believe ring buying shouldn’t be one of them,” said Ginny Rothschild, senior category director of jewelry and accessories at Walmart. “With hundreds of styles to choose from, we are able to provide customers with high-quality bridal jewelry at affordable prices so they can save money while still living happily ever after.”
Walmart’s Engagement Survey, which surveyed 1,500 respondents about their perceptions of engagement rings, also discovered:
- Two Months’ Salary is a Thing of the Past: Nearly half of Americans surveyed (47.6 percent) disagree that an engagement ring should cost the age-old “rule” of two months’ salary.
- A Team Effort: Fifty-five percent of respondents agree that the ring recipient should have input in the buying process.
- It’s Not the Size That Counts: Sixty percent of respondents disagree that ring quality is defined by the size of the diamond. Women (64.1 percent) disagree slightly more than men (56.4 percent) when it comes to the importance of the size of the diamond.
- But It’s the Thought That Does: A third of respondents (33.1 percent) said the ‘thought put into the ring is what matters most, followed by the design of the ring (29.3 percent) and cost (23.6 percent).
- Finding the Perfect Ring Doesn’t Have to Take Months:Sixty percent of survey respondents think less than a month is sufficient time to shop for that perfect engagement ring.
According to The Wedding Report, an estimated 1.78 million couples will get engaged this year. To help couples start their lives together without blowing their budgets, Walmart offers an expanded assortment of quality diamond jewelry for every budget, with a wide selection of engagement rings and other bridal jewelry under $1000. Walmart’s assortment of rings starts at $58 and include:
- The Forever Bride Collection, with engagement rings starting at $58, uses multi-stone diamond designs to create the illusion of a larger diamond. Forever Bride rings are set in 10K yellow or white gold, or sterling silver and range in carat size 1/20 to 3/8 carat T.W.
- The Always & Forever Platinaire Collection, with engagement rings starting at $98, features 1/12 – 3/8 carat T.W. diamonds set in a blend of sterling silver and five percent platinum.
- The Keepsake Collection, with engagement rings starting at $168,features 1/10 – 5/8 carat T.W. diamonds set in either 10K or 12K yellow or white gold, or sterling silver.
The retailer’s bridal jewelry collections are carefully selected to ensure quality by adhering to the four “Cs” – cut, color, clarity and carat.
In addition to engagement rings, Walmart and Walmart.com also offer an extensive assortment of wedding bands to help complete the wedding experience. For customers looking for help financing the rings, Walmart offers layaway year-round on all jewelry purchases. The retailer is also offering special financing for six, 12 or 18 months on jewelry purchases made in store with a Walmart Credit Card.
To learn more about Walmart’s Bridal Jewelry collections, please visit www.walmart.com/engagementrings. Individual ring selections vary by store.
Walmart’s Engagement Survey was conducted in January 2013 using Google Consumer Surveys. More than 1,500 respondents over the age of 18 from the U.S. internet population were surveyed.
About Walmart Jewelry:
Walmart offers jewelry in most stores and online at Walmart.com. The retailer’s jewelry assortment includes high quality items from brands such as Keepsake, Hallmark and Simply Gold and a large collection of children’s items including Hello Kitty and Disney jewelry. Walmart also offers free ear piercing with the purchase of an ear piercing kit and an extended assortment of special order jewelry including class rings.
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, more than 200 million customers and members visit our 10,600 stores under 69 banners in 27 countries and e-commerce websites in 10 countries. With fiscal year 2012 sales of approximately $444 billion, Walmart employs more than 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmartnewsroom. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.