Engagement Ring (20th century)

In the United States, the popularity of diamond engagement rings declined after World War I, even more so after the onset of the Great Depression.^^In 1938, the diamond cartel De Beers began a marketing campaign that would have a major impact on engagement rings. During the Great Depression of the 1930s, the price of diamonds collapsed. At the same time, market research indicated that engagement rings were going out of style with the younger generation. Before World War II, only 10% of American engagement rings contained a diamond.