Wedding costs surge as pent-up demand, inflation force couples to cut back

According to industry research firm The Wedding Report, about 7 million couples in the United States are expected to tie a knot over the next three years. Pandemics delay weddings for many, accelerate the timeline of relationships with others, and as lockdowns continue, spend more time together and enjoy extra company engagements between partners. It spurred on.

According to The Wedding Report, couples are planning to host about 2.5 million weddings this year, an increase of 30% over the previous year, an unseen number in 40 years. According to national trade associations, that number is expected to decline slightly over the next two years, but not so much. Americans are expected to have 2.24 million weddings next year and 2.17 million weddings the following year.

The amount of money a couple spends to tie a knot also continues to sneak up. In 2021, the average couple spent $ 27,063 on their wedding, up from about $ 24,700 per couple in 2019, according to The Wedding Report. Of $ 20,286.

As the celebrations come back, couples are finding ad application information that they can cut.

Kim Forrest, senior editor of WeddingWire, says more and more couples are choosing to host weekday weddings. This is useful for limited venue availability, but it also has a cost advantage. Some venues offer discounts on events that take place on infrequent days in the middle of the week.

For example, Builtmore Estate in Asheville, North Carolina will charge $ 10,000 for a property deer park venue for a wedding this fall Saturday. On Fridays or Sundays, the price will be $ 8,000.

Forrest also said that weddings held in the south tend to be cheaper than weddings held in the northeast, with cities such as Boston and New York pushing up national averages.

Shane McMurray, founder of the wedding report, said the price of major wedding costs is “much higher” this year than in recent years, mainly due to soaring food, labor and transportation costs. It is predicted. In addition, vendors with a surge in reservation demand can now name prices.

“These are the things people care most about — food and bars, photo services, and of course the venue,” he said. “The number of guests is also increasing and it will cost more.”

This means that couples can make sacrifices somewhere in the planning process, which is a loss for some vendors, he said. For example, couples may lower the priority of wedding planner payments unless they are willing to do extra work on their own.

On average, couples spend less money on beauty and spa services, ceremony officers, and party souvenirs for wedding guests, according to data from The Wedding Report. According to McMurray, these items are flexible and you can find low-cost options to get the job done. Add-ons such as photo booths and videographers are usually used together to stay within budget.

Vendors who feel oppressive Knowing that many couples feel jerky for time and money, they are trying to adapt more.

Samira Araghi, founder and owner of San Francisco’s bridal boutique Wild Bride, said the 2022 wedding season was “in full bloom” shortly after the pandemic recession.

This represents a bigger business for Wild Bride, which offers bohemian-style wedding dresses from brands such as Pronovias and Willowby to websites and physical stores on Fillmore Street.

During the pandemic, she said, there was a moment when society felt open again and the couple was free to hold large-scale rallies. But thanks to a new viral variant that causes regular spikes, it was a bumpy recovery.

“Delta [variant] Coming, things were canceled again. And when Omicron came, things were canceled again, “she said.

The most pressing problem that WildBride faces today is getting the finished product by mail. Aragi says many suppliers have been closed and some fabrics, dresses and styles have been discontinued. “Supply chain issues are big issues so far,” she said.

In search of a solution, Wild Bride began offering an “off-the-rack” option during a pandemic. The dresses in the collection are either old style or easy to buy in bulk from designers. Some dresses are discounted depending on the condition.

According to Aragi, this is appealing to women who are planning to walk the aisle at the last minute or who are facing logistics challenges while trying to secure another dress before a big day. It has become a popular choice. It’s also an option for price-sensitive customers, so you’ll never leave to shop elsewhere.

Aragi said he was aware of what was happening at other vendors such as florists and jewelery stores, but said he hadn’t been forced to raise prices in the face of widespread inflation.

But as shipping costs continue to rise, she said it is inevitable that companies will need to make adjustments by the end of the year.

“I think it will happen. Yes, we will have to raise the price,” she said.

James Markham, CEO of David Bridal, does not believe that the wedding boom or consumer sensitivity to rising prices will soon disappear. That’s why the company is investing in digital loyalty programs and vertically integrated supply chains to offer more perks and make more dresses, he explained in a recent sit-in interview. bottom.

Markham said he began to notice the bride hesitating to get thousands of dollars in dresses. Retailers have a fairly wide range of options, with prices ranging from $ 70 to $ 2,000.

“You are starting to hear growls about budget sensitivity,” he said.

Of course, that doesn’t mean that the bride will give up the dress altogether. She may opt for a cheaper option, Markham said. “You will still see it stubborn and bright [wedding dress] It’s a business, but it’s actually spreading in 2022 and 2023. “

According to The Wedding Report, brides spent an average of $ 1,499 on wedding dresses in 2021. That number is expected to reach $ 1,527 this year, the report said.

By 2024, wedding reports predict that the number of weddings in the United States will approach 2.14 million, approaching 2018 levels. By that time, couples can rest assured that some venues may come more easily. However, it is unclear where the price will stand.

Victoria Cela, a 27-year-old account executive at a Florida public servant, is betting on a downtrend.

Serra and her fiancé, Ricardo Goody, began working in March. Instead of rushing to the altar, Serra said the couple are planning a wedding in early 2024 to give them enough time to save money to cover their costs.

“Our parents will help us, but we obviously want to sell as much as we can,” she said. “If you have time, it’s a luxury.”

They plan to host the ceremony at the Coral Gables family home just outside Miami. This allows you to spend money on things other than the venue.

Cela wants vendor prices not to be that high by then.

“Every time I visit a website and measure a price, I think’OK, I might need to increase my budget a bit,'” she said.