The internet is becoming central to the jewelry industry and is proving particularly popular with grooms-to-be.

Ken Gassman, president of the Jewelry Industry Research Institute, has told the New York Daily News that more and more men are doing their engagement ring shopping online.

Five years ago, only one per cent of all engagement rings sold in the US were ordered over the internet. Last year, this had risen to eight per cent, representing a total value of $500 million.

The average price of an engagement ring bought online in 2006 was $3,200, the Diamond Information Center report, but many prospective grooms are in fact going online because of the savings they can make.

Mr Gassman told the New York Daily News that online retailers tend to have a much smaller profit margin, which inevitably suits customers looking for a bargain.

But Harvey Nagin, president of the 47th St Business Improvement District, believes that traditional jewelry stores will always be popular with buyers. Buying a diamond, he says, is "a touch-me, feel-me kind of thing" and there are many buyers who would never consider placing an order for a ring over the internet.

In 2004, research from the Conde Nast Bridal Group found that 81 per cent of brides-to-be prefer platinum to other precious metals for their engagement ring.