The Dollars and Cents of “I Do”
Wednesday, October 31st, 2007Make no mistake the diamond engagement ring is in full flower as a cultural imperative and will continue to grow. As the Echo Boom Generation reaches 31 by 2016 the engagement rings will become a major effect.
The Echo Boom is a term for children born roughly between 1982 and 1994. Children of this generation are called Echo Boomers, a reference to the fact that the generation falls between about 30 and 36 years after the Baby Boomer generation, and many Echo Boomers are the children of Baby Boomers. In this theory, the generation spans from, and immediately follows, the so-called MTV Generation and immediately precedes the Internet Generation. This generation is important because they are the last born to appreciate the changes of the digital revolution, and the rise of the internet and computer technology. Which means higher annual salaries and they will spend their money on quality engagement rings and the average size for the diamonds will be 1 carat and over.
This is true in every aspect of my life because I am a Baby Boomer and my girls are Echo Boomers. Their ages are 18 and 20 and I know they like the BIG ROCKS!