A number of UK-based jewellers are experiencing an increase in platinum bridal ring sales, according to a new report by realbusiness.co.uk yesterday (26th August).

With the country still in the throes of recession, the natural assumption is that the wedding industry is flagging as people struggle to fund their plans to get hitched.

However, sales of platinum engagement rings - which are positioned at the top end of the market - remain strong and are dominating pieces made in other metals.

Jason Hirsh from Hirsh Jewellers told the news provider: "We have seen our bridal sales increase considerably from last year and around 98 per cent of the engagement rings that we sell are in platinum."

A recent study conducted in Australia by IBISWorld found that couples are incorporating less frills in their arrangements rather than skimping on key items such as rings and dresses.

The existence of this trend in the UK was backed up by Nick Fitch of jeweller Nicholas James, who explained that spending on platinum rings is still increasing despite the effects of the economic downturn.

"We have always had a large platinum offering (accounting for more than 80 per cent sales) and our sales remain strong," he told realbusiness.co.uk.

"Interestingly now we recently have seen a move toward higher value platinum engagement rings in spite of the economic climate."

According to the news provider, the global wedding industry was worth approximately £2 billion in 2008.

Source:

Jewellers sell more top-end wedding rings despite recession (26/08/09)

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