2024 Will Be the Year of the Proposal—So Yes, That Engagement Ring Is Probably Coming

Popping the question is one of the most important moments in any couple’s relationship: The second you slip that ring on your finger, you’ll instantly change the nature of your partnership from dating to being fully committed to one another—for a lifetime. And, according to our research, 2024 is going to be the year that engagements soar. Based on proprietary customer insights that Signet Jewelers—the largest diamond jewelry retailer in the world—has been tracking, next year will end the engagement gap, a temporary halt in proposals driven by the pandemic. The company, which owns over 30 percent of the bridal jewelry market, predicts that up to 2.5 million proposals will happen in 2024—and numbers will only continue to climb over the ensuing three years. 

We also tapped the most experienced professionals in the industry, from diamond experts to proposal planners, who shared personal data and insights that likewise suggest 2024 will see an increase in engagements. Each of these specialists is currently witnessing more interest in their products or services, whether it's engagement rings or proposal photography, and the demand is only going to escalate in 2024.

Read on to learn why 2024 is going to be the year of the proposal.

The Past Few Years Saw a Lull in Proposals

Proposals—and dating in general—took a backseat once the COVID-19 pandemic hit in 2020. While some couples rushed to get engaged as the virus emerged, many early relationships faded, explains Jamie Singleton, Signet Jewelers group president and chief consumer officer. For those who were single at the time, Claudia Cividino, the president of Jared, says individuals opted to stay home rather than socialize with their peers in order to comply with health and safety guidelines. This meant that the younger population wasn’t making new connections—and new relationships weren’t blooming. Even when the government-mandated quarantine ended and restrictions started to lift, mask requirements and the ongoing uncertainty surrounding the public health crisis still made individuals hesitant to arrange first dates, adds Dr. Liliana Wolf, a licensed clinical psychotherapist.

These dating declines in 2020 and 2021 caused what professionals at Signet Jewelers have dubbed the engagement gap. According to Wolf, most couples date for about two and a half to five years before getting engaged. Since new couples weren’t forming with as much frequency during the pandemic, engagements likewise faltered in the subsequent years: Signet Jewelers customer insights reveal that engagements started to dip in 2022 (from 2.8 million in 2021 to 2.5 million in 2022) and bottomed out in 2023 (from 2.5 million in 2022 to 2.1 million in 2023), Cividino shares. At the same time, Wolf notes that many couples who had originally planned to pop the question in 2021 and 2022 decided to postpone their engagement until conditions were more “normal,” which also contributed to the decrease in engagements.

How We Know Proposals Will Boom in 2024

Yes, dating halted in 2020 and into 2021, but once the world started opening back up again and vaccinations became available at the end of 2020, individuals were eager to resume their pre-pandemic lifestyles. This desire to connect meant that many single people were meeting new romantic interests at social gatherings or taking matters into their own hands via dating apps, so relationships started blossoming again. 

The Timing Is Right

The couples who began pursuing a partnership during the tail end of the pandemic have now been together for about three years. “This extended period has provided them with the opportunity to solidify their bond, naturally causing them to consider the next significant step: getting engaged,” Wolf says. The first wave of proposals from this group is projected to take place at the end of 2023 and into early 2024, according to Cividino. Engagements will continue to increase for the following three years, reaching pre-pandemic levels. Not to mention, the backlog of postponed proposals will contribute to a rise, as well, per Wolf. 

The Data Is There

According to Cividino, Signet Jewelers has been able to predict that 2024 will see a boost in engagements due to their meticulous tracking methods. Through customer insights, Cividino says the company has identified 45 milestones that indicate how a couple is progressing through their relationship, from their first encounter to their engagement. Once a pair hits 25 to 30 of those key moments, on average, they are more likely to get engaged. The teams also arrange their own quantitative research studies and call upon public data, including statistics on banking, travel, real estate, and even pet adoption, to understand patterns in relationships. Through all of this combined information, they’ve been able to make the claim that 2024 is going to be the year of the proposal.

Diamond Sales Are Projected to Rise

In addition to general data that Signet Jewelers has accumulated about dating and proposals, the diamond jewelry industry is expecting to see a surge in diamond sales in 2024. According to Cividino, engagement ring sales were down in 2023, reflecting the decrease in engagements. However, CNN Business reports that the company is striving to reach $9 billion to $10 billion revenue target every year over the next three to five years as proposals increase. Since Signet Jewelers has a 30 percent share of the bridal jewelry market, owning Kay Jewelers, Zales, Blue Nile, and more, they estimate that this trend will continue across the board. 

Natural Diamond Council is a resource to educate diamond consumers, and although they don’t sell rings, managing director and chief marketing officer Kristina Buckley Kayel notes that their website traffic has grown 52 percent from 2022 to 2023. The term “natural diamonds” alone has increased 64 percent over the last three years on Google Trends, Kayel shares. This verifies that more couples are thinking about purchasing a diamond ring—and that the demand for diamonds is only growing. 

More Couples Are Planning Proposals

More couples are expected to purchase engagement rings in 2024, which means one thing: More duos are planning proposals right now. There's data to affirm this, too: Yolanda Smith, a proposal planner and owner of By Love Events, tells us that she’s been experiencing an increased interest in her services. Smith plans about five to six proposals per year, but from 2020 to 2022, she planned just four. She says that the numbers dipped below average due to the disruption in dating that the pandemic caused. In 2023, she will plan seven proposals total, which is more in one year than the previous three years combined. She also saw her website views soar in 2023—and that’s even before the holidays, which is a popular time to get down on one knee. 

In 2024 alone, Smith expects to plan about 12 to 14 proposals. “We’ve noticed a significant increase in interest from previous years,” she says. “Couples are approaching stability and comfort within relationship timelines, especially those that began dating in 2020 or soon after.” In addition to dating picking up again and the engagement gap ending, she attributes the increase in planning interest to the trend of more elaborate proposals. 

Interest in Proposal Photographers Is Climbing

Not only are couples showing more of an interest in hiring a proposal planner, but many of them are also booking proposal photographers to capture the moment. Leyre Cañizares, owner and lead photographer of Leyre Photography, shot about 40 proposals in 2020 and 70 in 2021, but those numbers surged to 100 in both 2022 and 2023 respectively. He anticipates similar statistics—or even higher numbers—in 2024. To Cañizares, the return to pre-pandemic lifestyles is one of the primary reasons why he’s getting more business, but another huge factor is social media. He says duos are constantly coming across beautiful proposal videos and images online, which likely inspires them to hire professionals.

Although photographer Leila Brewster, owner of Leila Brewster Photography in New York City, primarily shoots weddings, she takes on a few proposals every year. The photographer says she documented one proposal in 2020 and three proposals in 2021, but saw a boom in business in 2022 and 2023. “I think people were excited and confident to be able to celebrate with big groups, which led to more people proposing and planning weddings,” she remarks. Right now, Brewster is currently getting 10 to 15 inquiries per week, and those numbers will keep growing in the new year. Wedding and proposal photographer Emily Loeppke of Santa Barbara-based Anna Delores agrees—she’s also noticed more interest in her services. In 2023, she’s received 30 proposal inquiries so far. Although Delores typically shoots about five to 10 proposals per year—weddings dominate her calendar—she’s expecting to work with 10 to 15 clients in 2024 to accommodate the proposal boom. 

Tips for Couples Planning a Proposal in 2024

Since 2024 is going to see an uptick in proposals, there will most likely be competition for engagement vendors and venues. If you’re one of the many couples planning on popping the question in 2024, here’s what to keep in mind.

Pick Out the Perfect Ring

Choosing the ring is the first step involved in planning a proposal. If you’re going the custom route with your sparkler, make sure that you work with a jeweler well ahead of time. Cividino says that it takes anywhere from three to eight weeks to create an original piece, and that timeframe could potentially increase as many other couples express interest in designing and purchasing a ring. 

Plan Far in Advance

Since many other couples on the brink of an engagement are going to book vendors for their proposal, be sure to lock yours in early. Smith suggests contacting your desired venue, planner, and photographer as soon as possible. Not only will planning ahead of time make you feel more prepared and less nervous, but you’ll also increase your chances of booking the vendors you have your heart set on, thereby making your proposal even more special. 

Be Flexible With Dates

Likewise, as proposals take off in 2024, there will be competition for proposal photographers. Loeppke and Brewster both recommend being flexible with the date, instead of having your eyes set on a particular time. They explain that photographers who also shoot weddings will probably be booked on weekends, so consider proposing on a weekday if you want a professional to capture the moment. “Proposing on a Friday, Sunday, or even a weekday is just as special—and usually means far fewer crowds at popular spots like the beach, where we photograph many of our local California proposals!” Loeppke shares.