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Last-Mile Delivery Carrier Better Trucks Secures $15 Million for Expansion

Better Trucks

New funding expedites market expansion and technology investments Better Trucks, a technology-driven logistics firm focused on rapid parcel delivery, secured a $15 million round led by venture capital firm Lobby Capital with Corazon Capital and Venture 53 also participating. Better Trucks is a last-mile delivery carrier focused on next-day and two-day parcel shipping to residential customers, leveraging in-house technology to streamline the delivery process. Its shipping clients include leading national retailers delivering across the Midwest, Northeast, Southeast, and Texas, as well as e-commerce and fulfillment companies such as ShipBob. Better Trucks is also available on the leading multi-carrier shipping platforms such as EasyPost and ProShip. “This first outside investment allows us to expand our footprint and build upon our proprietary tech stack to deliver a better experience for our clients and their customers,” said Andy Whiting, Better Trucks co-founder and CEO. “These investment partners share our vision for the next age of delivery that puts customers’ unique needs ahead of the outdated demands of legacy delivery companies.” Better Trucks has expanded its market footprint to 25 metro areas across 17 states, with plans to double its coverage area over the next year. To support its fast-growing customer base, this round injects capital for Better Trucks to invest in additional warehouse capacity throughout the United States and to hire in the technology, operations, and corporate functions, as well as build its flexible driver workforce. “Better Trucks changes the delivery game through its tech-forward, end-to-end solution for any commercial shipper,” said Eric Carlborg, co-founder of Lobby Capital, lead investor of the round. “We got under the hood of Better Trucks and see a bright future for Andy, Weston and their team who have figured out how to supplant the incumbents to serve clients with flexibility, speed and efficiency as shipping demand soars.” Retailers, e-commerce, fulfillment companies, and traditional third-party logistics (3PL) distribution companies drive Better Trucks’ growing customer base in a market experiencing rapid growth. Parcel volume in the U.S. increased to 21.6 billion packages in 2021 according to the 2022 Pitney Bowes Parcel Shipping Index. U.S. carrier revenue shot up 16% year over year, to $188 billion. Founded by Andy Whiting and Weston Webb in 2019, the Better Trucks leadership team marries deep technology and logistics backgrounds, taking a technology-first mindset to their approach to improving parcel delivery. From the first package scan to the final delivery notification, Better Trucks is building its software solution from the ground up to improve parcel visibility, communication throughout the delivery process, and increase efficiency at every step in the journey. About Better Trucks Better Trucks is a technology-driven, last-mile delivery carrier built for digital commerce. Founded in 2019, it delivers a better experience for retailers, e-commerce firms, and fulfillment centers to ship parcels faster with better communication and better value. Specializing in next-day and two-day deliveries, Better Trucks sorts and labels packages within its strategically-placed warehouses and delivers them through its extensive driver network. Visit bettertrucks.com. Contact Details Better Trucks John Hall +1 303-223-6965 john@hallwaycommunications.com Company Website https://www.bettertrucks.com/

November 15, 2022 07:01 AM Central Standard Time

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GETIR GOES BANANAS CELEBRTATING ONE YEAR U.S. ANNIVERSARY!

Getir

Getir, the pioneer of ultrafast grocery delivery, celebrates one year of launching in the United States in Chicago, New York, and Boston. Through its revolutionary last-mile grocery delivery service, the Getir app has been opened in the U.S. more than 40 million times, saving users over 700,000 hours. To celebrate, bananas, the most popular selling product on the U.S. app, are available for nine cents. According to data from the U.S. Bureau of Labor Statistics, the average cost of bananas is $0.64 per pound, approximately $0.21 each. “We are excited to be celebrating our one year anniversary in the United States. We are proud of this accomplishment and all of our teams who have made this first year in the United States successful,” said Langston Dugger, Head of US Operations. “American customers enjoy the convenience and reliability of our service and variety of our products.” A bunch of stats: Top Ten Selling Products Top Neighborhoods Chicago – River North Boston – Brookline New York – Lower East Side Distance Traveled Getir has fulfilled orders by traveling over 1.4 million zero-emission miles, equating to 402,000 pounds of CO2 emissions saved Our delivery team has clocked enough miles to travel around the world 57 times, three times to the moon and back Charitable Efforts Donated over 75,000 meals to local nonprofits Saved the equivalent of 8.9 million gallons of water through food donations About Getir: Getir is the pioneer of ultrafast grocery delivery. The tech company, based in Istanbul, has revolutionized last-mile delivery with its “groceries in minutes” delivery proposition, offering approximately 2,000 everyday items to its customers. Getir has operations in all 81 cities of Turkey, and launched operations in the UK, the Netherlands, Germany, France, Spain, Portugal and the United States in 2021. Learn more at www.getir.com/us. Contact Details Arielle Goren +1 212-717-5863 getir@kivvit.com Company Website http://www.getir.com/us

November 14, 2022 02:15 PM Eastern Standard Time

Top Tech Gifts

News Media Group, Inc.

Contact Details Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/

November 14, 2022 11:30 AM Eastern Standard Time

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Fine Hygienic Holding Wins License to Market FIFA World Cup Qatar 2022™ Facial Tissues and Will Be Providing Hygiene Support During the Tournament

Fine Hygienic Holding

Football's world governing body FIFA has awarded Fine Hygienic Holding (FHH) the license to design, produce, and sell limited-edition packs of facial tissues commemorating the FIFA World Cup Qatar 2022™. FHH launched the special edition packs in hypermarkets and supermarkets in Jordan, Egypt, Saudi Arabia, the UAE, Bahrain, Oman, Kuwait, Iraq, Morocco, and Sudan in mid-September 2022. FHH will also be providing sanitation support at the tournament itself, working across the 8 stadiums, training sites, and FIFA Fan Festivals to ensure the highest level of hygiene for fans, teams, and players attending FIFA World Cup Qatar 2022™. Commenting on this occasion, James Michael Lafferty, FHH CEO, said, "“We at Fine are delighted to be supporting the hygiene program at the FIFA World Cup, and ensuring we help make this the most hygienically protected sports event since the pandemic. Our Fine Guard products, with long lasting germ protection, are a perfect solution for areas such as stadiums where constant foot traffic renders only brief disinfection with traditional products. Spectators and everyone involved can rest easy knowing FIFA is using state of the art products and technologies." The FIFA World Cup Qatar 2022™ will be the first World Cup ever to be held in the Arab World. It is scheduled to take place from November 20 to December 18, 2022, in Qatar, with matches being played across eight stadiums, hosting 32 teams. About Fine Hygienic Holding: Fine Hygienic Holding (FHH), one of the world's leading wellness groups and MENA's leading manufacturer of hygienic products, serves consumers in more than 80 countries around the world. Originally established as a paper manufacturer, FHH has transformed into a wellness company dedicated to enhancing global health and wellbeing. FHH offers a diverse array of award-winning products including sterilized facial tissues, napkins, kitchen towels, toilet paper, baby diapers, adult briefs, jumbo rolls, as well as away-from-home products to accommodate all types of private and public institutions, in addition to its advanced range of personal protective equipment (PPE) and long-lasting germ protection solutions, it also brings innovative nutritional supplements, Motiva, to the market. Contact Details FINE HYGIENIC HOLDING Rana Kawalit | │ Corporate Communication & PR Director +971 54 531 5575 Rkawalit@finehh.com Company Website https://www.finehh.com/

November 14, 2022 12:30 AM Eastern Standard Time

US Navy Veteran Todd Harmon Talks Shop and Shares Growth Strategies for Minuteman Press Franchise in Cincinnati

Minuteman Press International Inc

US Navy Veteran Todd Harmon is no stranger to owning his own business. Prior to joining the Minuteman Press franchise family in April 2018, Todd had previously owned other small businesses and franchises. His Minuteman Press design, marketing, and printing center is located in the Kenwood area of Cincinnati, Ohio, at 7681 Montgomery Road. In this interview, Todd shares why he chose Minuteman Press, how his military and business experience has helped him in the printing industry, and how products such as signage and mailings with a heavy focus on Every Door Direct Mail have helped spur the growth of his printing business. What is your professional background? Todd Harmon: “I am a United States Navy Veteran. Prior to franchising, I owned an independent small business that manufactured new and refurbished pallets in the wood products industry. I have also previously owned two other franchises in the retail and restaurant industries. I chose Minuteman Press due to its #1 ranking in print franchising and the excellent work-life balance it would provide my family. Both of my children now work in the business with me. It also appealed to me as a privately owned company with a great royalty structure for franchisees.” What has the support from Minuteman Press International been like for you? Todd Harmon: “Local support from my field rep Ryan McIntyre and RVP Gary Nowak has been outstanding. They are a great resource when I need to discuss hiring/personnel and major business decisions. The FLEX software support team is always very responsive to our needs.” How do you describe your business and capabilities to potential clients? Todd Harmon: “I explain to clients that we are actually a print and small business marketing and consulting firm. Because of my previous business experience owning two other successful local franchises prior to Minuteman Press, I can really relate to these folks and help them reach their target customers through effective print and mail marketing strategies. Our customer service and fast turnaround times really set us apart from the competition.” What are the high-demand products and services that have really been helpful for your clients? Todd Harmon: “Signage, including installation if applicable, with fast turnaround times have really helped our clients. We can drop ship anywhere for them even on weekends. Quick design services for budget-conscious small businesses are much-appreciated by our customers. Our #1 key growth area is in direct mail services. We have also built a very strong Every Door Direct Mail (EDDM) business. We work with and educate our customers through every step of the EDDM process.” What are some of the key ways you’ve grown your business? Todd Harmon: “Our high level of customer service and fast turnaround times have led to many referrals. We have grown through participation in a local BNI networking group. I am committed to consistent SEO/SEM marketing, email blasts, direct mail, and always promoting our EDDM services at every opportunity.” How would you best describe your community? Todd Harmon: “We enjoy a very dense business community around our shop. There are offices, medical facilities, restaurants, and many non-profit firms in our local area, as well as schools and many large church organizations. All of our clients demand a high level of professional customer service that we strive every day to meet.” Why do you think printing remains so vital to businesses today? Todd Harmon: “Print is a more trustworthy advertising medium and can allow you to reach a more targeted audience. For instance, I believe an engaging, tangible EDDM mail piece with a strong offer will yield a higher ROI than other advertising mediums, especially for restaurants and home repair/service businesses.” What are the biggest rewards of owning your business? Todd Harmon: “Following my military service, I have always owned my own business. I get great satisfaction from operating a profitable customer service focused small business. I enjoy the challenge.” What advice would you give to other owners right now? Todd Harmon: “Minuteman Press gives you the freedom to make the print shop your own, allowing you to focus on your strengths. Embrace it and have fun. Also, h ire staff that will help you build a culture of customer service in your shop. ” Todd Harmon’s Minuteman Press franchise is located at 7681 Montgomery Road, Cincinnati, OH 45236. For more information, call 513-531-7600 or visit their website: https://minuteman.com/us/locations/oh/cincinnati22/ Learn more about #1 rated Minuteman Press franchise opportunities and see Minuteman Press franchise reviews at https://minutemanpressfranchise.com. Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

November 10, 2022 10:00 AM Eastern Standard Time

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Pros and Cons of Custom Jewelry

Benzinga

Most industries change over time, and the jewelry industry is no exception. In the past, people would walk into a jewelry store and select a piece for themselves or as a gift. But today’s consumers are asking to be a part of the design process by commissioning jewelers to create custom jewelry. There's all sorts of options from custom earrings, custom bracelets, custom pendants, and many more. So what are the pros and cons of custom-made jewelry? Take a look at this exciting trend so you can decide whether it’s right for you. What is Custom Jewelry? Custom jewelry is specifically designed for someone. Custom pieces are one-of-a-kind and are tailored to fit the style and needs of the wearer. For instance, someone may decide they love their great-grandmother’s engagement ring diamond, but they don’t like the ring's design. They can take the diamond and use it to create a custom-designed engagement ring for themselves. Also, a vital piece of advice: remember to protect it! How Long Does Custom Jewelry Last? Every piece of custom jewelry is different so there is no one answer to how long it will last. For instance, if your custom jewelry is gold-filled, it will typically last 30 years or longer. But if you use a lesser-quality material, your jewelry won’t last as long. Proper care for your custom piece is essential when it comes to how long it will last. Speak to the jeweler when creating your piece to determine the best way to care for it. Should You Get Jewelry Insurance on Custom Pieces? Any time you purchase a fine piece of jewelry, especially one that you designed yourself and can’t replace, you should insure it with jewelry insurance. This type of insurance will ensure that if something happens to your custom piece, the insurance company will reimburse you for your loss. Once your piece is designed, be sure to contact a jewelry insurance company, get a quote, and make sure you’re covered in case of a loss or theft. Advantages of Custom-Designed Jewelry As you can imagine, there are several advantages to creating your own jewelry design. Here are a few to consider. You’re Involved in the Entire Creation Process When you build a house, you want to be involved in every aspect of the process. You want to ensure that the floors, windows and colors are all to your liking. It should be no different with your jewelry. When you design your custom piece, you will be involved in the process as you work with the jewelry designers to create your dream piece. This will give you the opportunity to make sure that, once the piece is completed, you love every detail of it. Opportunity to Add Personalized Sentimentality Jewelry should be personal, and when you have the chance to customize it, it will mean more to you. You can add sentimentality to your custom jewelry by tucking special engravings on the inner circle of wedding bands or the back of a custom watch, by using a stone from another piece of jewelry or by adding other materials or colorful stones to your jewelry. Create One-of-a-Kind Pieces If you love the idea of wearing a piece of custom jewelry that no one else has, custom jewelry might be the ideal thing for you. When you design your own jewelry, you will never see your bracelet on another woman’s wrist. And because the piece is custom, it will likely attract the admiration and comments of a lot of people who see you wearing it. Disadvantages of Custom-Designed Jewelry Along with all of the advantages, there are some disadvantages of custom jewelry. Higher Price Points Because the jewelry you are designing is custom, you can expect to pay a higher price than you would if you choose a ready-made piece off the shelf. But if you want a one-of-a-kind custom piece, the higher price tag is likely worth it. Without Proper Collaboration, Mistakes May Happen When you are working with a jeweler to design a custom piece, it’s important that you closely collaborate with them. If you don’t, it’s possible that the jeweler will misunderstand your wants and create a piece that misses the mark. Longer Process from Start to Finish If you want a special piece of fine jewelry to wear for an event the upcoming weekend, custom jewelry is not the right choice. When designing a custom piece, you must have patience because the process is deliberate and thoughtful. Timing may vary depending on the complexity of a piece. For example, simple diamond pendants take less time to design than a more intricate piece like a graduated tennis necklace. Before you begin the design process, speak to the jeweler and get a time estimate for the process — and then make sure you are willing to commit to it. Create a Stunning Piece of Jewelry That Sets You Apart Wearing jewelry is a great way to enhance an outfit and express your style, but sometimes, you want a piece that no one has or has ever seen. That’s where custom jewelry comes in. If you decide you want to create your one-of-a-kind piece, speak to a jewelry insurer to protect it. After all, it would be a shame to create a beautiful custom piece only to lose it and have no way to recoup your investment. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

November 08, 2022 01:20 PM Eastern Standard Time

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Assembly Elevates Joel Coppersmith to Global Director of Measurement and Effectiveness

Assembly

Global omnichannel media agency Assembly has named Joel Coppersmith to a new role as Global Director of Measurement & Effectiveness. Throughout his more than 3-year tenure at Assembly, Joel has worked alongside stakeholders across the agency to define and evolve our approach to measurement, and key to this new remit will be standardizing measurement and effectiveness strategy globally while staying agile to the change in the media and measurement landscape. There is more pressure than ever on CMOs and marketing leaders to drive performance, which has in turn increased the accountability of Marketing to deliver change and growth across businesses effectively. But with disparate media platforms, emerging media formats both on and offline, and changing privacy regulations, it’s a complex challenge – one Assembly is well positioned to solve. “We can offer clients answers to questions around the efficacy of their investment and the role their media budget is playing in delivering their brand and business objectives. Our focus is on equipping clients with strong, compelling arguments that they can use internally to explain the role that Marketing is playing and the value it's driving,” said Joel Coppersmith, Global Director of Measurement & Effectiveness. Assembly has dedicated time and investment towards bringing our measurement strategy to life across the agency, with Joel leading a significant effort to upskill and transform talent’s knowledge of the measurement landscape to have more informed, solution-oriented conversations with clients. And given the current economic climate, measurement is of even greater importance for marketers. Joel added, “With the challenging economic reality, paired with the disruptions to the online tracking environment via legislation and consumer pressure, there is a lot of uncertainty for businesses – this makes the need to prove the value of delivery even more crucial, making its way to the top of brands’ priority lists.” “The ‘Effectiveness’ part of the role is the crux of what we’re about. It’s about understanding why and how Performance and Brand media impacts consumer behavior, and how that drives growth for a business,” said Coppersmith. Assembly Managing Director of Europe, Kate O’Mahony, added, “Joel represents the very best of Assembly: embracing change, and driving progressive growth, which is how we think about our measurement and effectiveness strategy for clients. With Joel dedicated to this charge, we can help our clients and teams break through the complexities and ensure their marketing programs are adding the value to their businesses that they should be.” About Assembly: Assembly is the modern global omnichannel media agency, bringing data, talent, and technology together to find the change that fuels growth for the best brands on the planet. Our approach connects big, bold brand stories with integrated, global media capabilities that deliver performance and drive large-scale business growth. Our work is powered by our proprietary, in-house technology solution, STAGE, and led by our global talent base of over 1,600 people around the world. We’re purpose-driven at our core and pioneers in social and environmental impact in the agency world. Assembly is a proud member of Stagwell, the challenger network built to transform marketing. Visit www.assemblyglobal.com for more information. Contact Details Sara Pollack, VP of Marketing +1 917-438-4922 sara.pollack@assemblyglobal.com Company Website https://www.assemblyglobal.com/

November 08, 2022 04:00 AM Eastern Standard Time

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MySize Acquires Naiz Fit To Consolidate Apparel Sizing Solutions And Position Company As A Potential Leader Helping Serve $1 Trillion Global Fashion Industry

MySize, Inc.

The nearly $1 trillion global fashion industry is no stranger to innovation. Thanks to technological advancements in the e-commerce fashion industry, apparel, footwear and accessories sales ballooned in 2021, hitting $180.5 billion in the U.S. alone. The sector is expected to grow by 13% this year, with consumers set to spend $204.9 billion on fashion items online. But while the industry looks promising, there are some disadvantages to shopping online — such as receiving an ill-fitting garment — that could affect the consumer experience and, ultimately, the sector’s growth. With returns being a commonly potentially huge blow to retailers’ bottom lines, MySize Inc. (NASDAQ: MYSZ) has developed solutions that could benefit both sides of the shopping experience. Measurement Solutions Founded in 2014, the company is an omnichannel e-commerce platform and provider of artificial intelligence (AI)-driven measurement solutions to drive revenue growth and reduce costs for its business clients. MySize ’s MySizeID is based on sophisticated algorithms and cutting-edge technology with broad applications for apparel sales in e-commerce and hybrid settings. The company recently launched FirstLook Smart Mirror, a mirrorlike touch display that provides in-store customers an enhanced shopping experience and contactless checkout. MySize says Orgad, its online retail platform, has expertise in e-commerce, supply chain and technology, operating as a third-party seller on Amazon.com Inc. (NASDAQ: AMZN), eBay Inc. (NASDAQ: EBAY) and other sites. To expand its portfolio and offerings, MySize announced on Oct. 12 that it acquired Spain-based Naiz Fit, a software as a service (SaaS) technology solutions provider that solves size and fit issues for fashion e-commerce companies. Naiz Fit’s SaaS Technology Naiz Fit’s SaaS technology acts as a digital tailor. It gathers more than 20 body measurements without asking customers to measure themselves by using its proprietary AI and computer vision capabilities to transform simple images into body measurements. For customers who do not want to use photos, Naiz Fit implements statistical modeling algorithms to determine the size and fit based on height, weight, age, gender and fit preference. MySize reports that Naiz Fit’s latest product — Smart Catalogue — will be launched following the acquisition. Smart Catalogue is designed to help retail products and design teams make the most informed decisions for their collections based on real-time customer data. With over 40 clients in Spain, Italy, Germany and France, Naiz Fit brings MySize a substantial customer base, including Desigual, Moschino, El Ganso, Philosophy, Alberta Ferretti, Silbon and Boglioli Milano. Financials Naiz Fit’s revenue and financial results will be fully integrated into MySize’s consolidated results for the fourth quarter of 2022, according to the company. As a result of the acquisition, Naiz Fit’s customers “will reap the benefits of a broader portfolio of products and solutions delivered by an unparalleled combined team of industry leaders with a deep understanding of the fashion e-commerce retail landscape,” the company said. Naiz Fit expects an estimated $400,000 in 2022 revenue, with substantial increases anticipated for 2023. MySize also anticipates its combined Naiz Fit and MySizeID sizing solution revenue to contribute an additional $1 million in revenues in 2023. “Combining the MySizeID and Naiz Fit sizing solutions, we expect to gain significant economies in sales and marketing and to deliver unparalleled sizing technology to fashion retailers,” MySize Founder and CEO Ronen Luzon said. “We believe the acquisition will be highly accretive in the near and long term as well as being a strategic play. By leading the consolidation of sizing solutions, MySize is positioning to build greater and broader offerings and become the leading technology provider in the industry.” The acquisition of Naiz Fit could position MySize as a leading company in measurement solution technologies for retail, helping the company boost revenue and grow its customer base. MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients. Orgad, its online retailer platform, has expertise in e-commerce, supply chain, and technology operating as a third-party seller on Amazon.com and other sites. MySize recently launched FirstLook Smart Mirror, a mirror-like touch display that provides in-store customers an enhanced shopping experience and contactless checkout. FirstLook Smart Mirror extends MySize's reach into physical stores and is expected to contribute to revenues through unit sales and recurring service fees.MySize has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications, including the apparel, e-commerce, DIY, shipping, and parcel delivery industries. This proprietary measurement technology is driven by several algorithms that are able to calculate and record measurements in a variety of novel ways. To learn more about MySize, please visit our website: www.mysizeid.com. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Or Kles, CFO ir@mysizeid.com Company Website https://mysizeid.com

November 03, 2022 08:00 AM Eastern Daylight Time

How Much Should I Spend on an Engagement Ring?

Benzinga

Buying an engagement ring signifies a lifelong emotional investment in your future with your partner. An engagement ring purchase is also a significant financial investment. According to a 2021 BriteCo™ survey, 38% of respondents said that buying their engagement ring was the biggest purchase outside of buying a home or vehicle. Making such a significant financial decision requires considering how much to spend on an engagement ring. Find out how much you should spend on this sentimental piece of jewelry by exploring the average engagement ring cost and how to budget for a ring you and your partner love. What’s the Average Cost of an Engagement Ring in 2022? Engagement ring shopping can be stressful and confusing, so to help you determine how much an engagement ring should cost, it’s helpful to know the average price of an engagement ring to use as a baseline. The average engagement ring price in 2021 was approximately $7,011, an increase of 6.1% over 2020. Respondents of the BriteCo™ survey reported a slightly lower median price of $3,250, with 61% spending between $2,500 and $10,000 or more. BriteCo research showed the average spend on earth-mined diamonds increasing 11.9%, from $7,197 to $8,053 in 2021. The average spend for engagement rings with lab-grown diamonds, by comparison, was $4,383, up 8.6% over 2020 prices. BriteCo data also showed that lab-grown diamonds increased their market penetration in the past year from 18.7% of engagement ring sales in 2020 to 28.4% of sales in 2021. The average cost of an engagement ring also varies based on the buyer’s location. In the Mid-Atlantic region, including New York, rings cost an average of $9,343. States in the Pacific region, including California, saw an average spend of $8,626, and people in the central parts of the U.S. spend about $5,530 on average. Deciding on Your Engagement Ring Budget Deciding how much you should spend on an engagement ring involves understanding your budget for the purchase. Your income level, ring preferences and ring-related expenses like jewelry insurance all factor into how much you can and want to spend on your partner’s engagement ring. You can also use an engagement ring calculator tool to find out how much it will really cost to buy a stunning ring for your partner. What Can You Afford? The No. 1 consideration for buying an engagement ring is how much you can afford. In the past, many people determined how much to spend on an engagement ring based on salary. A 1930s De Beers Group marketing campaign suggested that a man had to spend at least three months’ salary on a diamond engagement ring or wedding ring to prove his devotion. While this rule may have worked in past decades, many modern ring buyers choose to spend much more conservatively. Most buyers forgo the salary-based budgeting method altogether. But if you are wondering, “How much should an engagement ring cost according to salary?” CNBC recommends only 5% of your income go toward the purchase. If you make close to the median household income of $70,784, that would mean a reasonable ring budget of about $3,539. What Materials Do You Prefer? Ring materials such as metals and diamonds affect the amount you’ll spend on your engagement ring. When deciding how much to spend, you’ll need to consider what ring materials you and your partner prefer, how much they cost and how to choose an option that matches your aesthetic desires with a price you can afford. Metals In general, platinum and palladium rings are the most expensive metals, with gold, including yellow, rose and white, coming in second. Cobalt and tantalum are less costly metals, and stainless steel and titanium rings are the most affordable, which can help cut engagement ring costs and save money. Diamond The most crucial consideration in most engagement rings is the diamond — the most expensive element. Diamonds are typically priced according to the 4Cs: cut, clarity, color and carat. Cut refers to the way a jeweler cuts a diamond to reflect light. More intricate cuts, rated 10 on the American Gem Society (AGS) scale, will be more expensive than lower-rated cuts. Diamonds with better clarity ratings or unique colorings may cost more than those with lower ratings. For example, a vivid yellow diamond ring may cost upward of $16,000 per carat, while a regular white diamond might sell for $1,000 per carat. Generally, the more a diamond weighs in carats, the more it will cost. Diamond prices typically move between weight groupings. For example, a diamond weighing between 0.01 to 0.90 carats will cost the same, but the price jumps for diamonds weighing between 0.98 to 1.5 carats. Where Will You Buy Your Engagement Ring? Where you buy your engagement will factor into how much you plan to spend. A ring from a high-end jeweler like Harry Winston Inc. or Tiffany & Co. may cost tens of thousands more than one from a brand-name retail store or local jeweler. Additionally, buying in-store versus online may offer different pricing options for engagement rings. The BriteCo™ survey showed that 81% of ring buyers prefer in-person sales, with 9% opting for online-only retailers and 11% purchasing from a known jeweler’s website. Because of distribution costs, an engagement ring online may be 30% to 40% cheaper, but buying from a trusted brand or local jeweler offers more security. Should You Insure Your Engagement Ring Purchase? Your insurance premiums should also factor into your budget for an engagement ring. High-value pieces require higher monthly premiums. But compared to other types of insurance, getting specialty jewelry coverage is very affordable, ranging from 0.5% to 1.5% of your ring’s appraised value. Many people believe that their homeowners or renters insurance will fully cover their engagement ring if something happens to it. But the average coverage provided by homeowners or renters insurance for fine jewelry is approximately $1,500. This falls significantly short of the average cost of an engagement ring, leaving you with substantial out-of-pocket costs if your ring is damaged, lost or stolen. Dedicated or specialty jewelry insurance ensures that you are covered for the full replacement cost of the piece. Look for a policy with no deductible that also covers preventative maintenance and repairs. It’s easy to get affordable engagement ring insurance online. Before applying for jewelry insurance, you must have your engagement ring appraised. You can get an appraisal online, at the jewelry store where you purchased the ring or through a professional certified appraiser. You will pay a small fee for the appraisal, typically between $50 and $150. Buy a Ring Your Partner Will Love Your engagement ring represents your commitment and connection to your partner. So, while there are archaic ideas about how much you should spend on an engagement ring, the ideal ring price ultimately depends on your budget and your partner’s style preferences. Regardless of how much you spend on a ring, ensure that you get comprehensive jewelry insurance to protect your investment. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

November 02, 2022 01:03 PM Eastern Daylight Time

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