Diamonds Are Forever

Engagement Rings

The tradition of diamond engagement rings is a modern invention, largely credited to the De Beers Corporation and their advertising agency, NW Ayres, in 1938. Gary Arndt explains that this marketing strategy was designed to create demand for diamonds by associating them with love and commitment, a concept that did not exist in ancient Rome as some might believe 1. The campaign was successful, leading to a 100-fold increase in the US diamond market from 1939 to 1979.

The adoption of diamond wedding and engagement rings and the idea for men to spend three months salary on one is a total invention of the diamond industry and advertising companies.

--- Gary Arndt

This marketing tactic has since been replicated globally, significantly impacting cultural norms around engagement rings 1.

   

Global Expansion

The global expansion of the diamond market is a testament to the power of strategic marketing. Gary Arndt highlights how De Beers' marketing efforts led to a dramatic rise in diamond engagement ring ownership worldwide 1. For instance, in Japan, the percentage of women with diamond engagement rings soared from 5% in 1967 to 60% by 1981.

From 1939 to 1979, the US diamond market grew 100 fold. They replicated this strategy all over the world.

--- Gary Arndt

Similarly, in China, the adoption of diamond rings increased from nearly zero in 1990 to almost 30% today, illustrating the global reach of this marketing phenomenon 1.