According to Forbes, only 23% of older women would be willing to sell their engagement rings. With this they demonstrated that the millennial generation is less sentimental than previous generations.
“At first glance it seems that the millennials are more competitive, materialistic and flashy, all as a result of their close connection with social networks. However, through a survey and several studies, this generation proved to be very smart when it comes to buying and planning things for the future,” said Andrew Brown, president of WP Diamonds.
In our opinion, the part of “flashy” and “materialistic” does not apply in general to all millennials, as well as people of other generations are not exempt from these traits. However, the second part of the quote does describe this generation very well.
The survey found that in 2016, 55% of millennials valuable jewelry sold to help finance future purchases. Addition, 69% said they consider the typical engagement rings as a boring piece and prefer colored stones.
In conclusion, the millennials do not die by having an engagement ring. WP Diamonds found that 37% of millennials would be willing to sell this piece so they could buy other valuable things, such as a house, a trip, or even to get funding for a scholarship.