According to the Washington Post, couples plan to spend more than $62 billion on their weddings this year. $2 billion of that will go toward wedding bands (while $6 billion will go to engagement rings).
The article also mentions that specialty jewelers these days are doing slightly better than larger chains. The data, coming from retail association Jewelers of America, shows that smaller jewelers saw a 6 percent increase from 2006 to 2007 while bigger retailers grew 3.5 percent.
Why? It could be that when it comes to a personal item like a wedding ring, consumers want the personal experience you get from a specialty jeweler.
Either way, it’s enouraging to see small businesses rocking the house.