The group cited the US jewellers report that more couples than ever are buying diamond engagement rings, with bridal sales being their primary source of diamond jewellery demand in recent months.
They are often upgrading in colour, cut and clarity, rather than size.
“For many couples, the pandemic has brought them even closer together, in some instances speeding up the path to engagement after forming a deeper connection while experiencing lockdown and its associated ups and downs as a partnership,” said De Beers chief executive Bruce Cleaver.
“Engagement rings are taking on even greater symbolism in this environment, with retailers reporting couples are prepared to invest more than usual, particularly due to budget reductions in other areas.”
A relationship therapist and author of the forthcoming book Us: The Power of Moving Beyond Me and You, Terry Real also said that part of the reason people are getting engaged during COVID was that there is so much distance between them and their community.
“The couple is intimate but thirsty for outside stimulation, for an environment to hold them beyond them,” he said.
“For a young person to have a performance of your love that’s witnessed is like water in the desert in this culture. The ring is that performance. Especially now.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished