According to the latest reports from the Jewelry Consumer Opinion Council (JCOC), the bridal market which seemed to "recession-proof," is now starting to feel its effects of the current economic downturn.

In a report, "June Bridal Study," it showed that 71 percent of respondents will continue with their wedding or weddings they’re involved in despite the recession. However, only 13 percent of respondents said that their wedding was being postponed by 6 months or more due to the recession and 9 percent said their wedding was being postponed indefinitely.

Besides, almost half of the respondents said that despite the recession, their overall wedding budget would remain the same whereas 28 percent said that it would be lower.

The percentage varied when asked about the ring budgets for the wedding, a clear gender gap emerged in the JCOC’s research results. 36 percent of grooms plan to spend the same amount for the wedding ring despite the recession and 52 percent of brides felt the same thing.

Meanwhile, 36 percent of grooms said their ring budget is lower by fifteen percent or more due to the recession, while only 23 percent of brides thought the budget for the rings would be lowered that much. There were differences in opinion between the brides and grooms about the place where the wedding rings will be purchased.

46 percent of grooms said they will buy their rings from the national jewelry store chain such as Zales or Kay Jewelers and 36 percent said that they will buy from a local independent jewelry store and only 7 percent said that each will buy at an Internet-only retailer, a big-box store such as Wal-Mart or Target, or an established retailer's Web site.

With the brides, 14 percent of which will be involved in the selection and/or buying of the engagement and wedding rings, including how much they will be spending, according to the survey, 29 percent of them preferred independent jewelry store or national jewelry store chain, 23 percent preferred others, 13 percent preferred a big box store, 3 percent of them preferred membership retailers such as Costco or Sam’s Club and/or established retailer’s Website.
The study was conducted by JCOC from June 10-15, 2009. As of June 16, 362 JCOC Panel Members has completed the survey.