The wedding industry has historically done well even in times of economic uncertainty. Tough financial times simply do not override love and marriage. With that in mind, here is a look at wedding statistics for 2008 as researched and reported by The Wedding Report. Dollar amounts are the average spent for each category across the country. In some cases, such as Bridal Attire, the amount represents the sum of the averages of all items in that category.
Estimated U.S. Weddings: 2,212,923
Total Estimated Wedding Market Value: $62,053,359,662
Average Number of Guests: 166
Total Average Spending: $28,704
· Bridal Attire: $1,903
· Groom Attire: $449
· Hair and Makeup: $166
· Wedding Ceremony: $1,552
· Wedding Officiant: $226
· Rehearsal Dinner: $1,300
· Entertainment: $493 to $1,786
· Flowers: $2,033
· Gifts and Favors: $1,427
· Honeymoon: $3,805
· Stationery: $911
· Jewelry and Rings: $5,803
· Photography and Videography: $3,502
· Wedding Planner: $1,483
· Reception: $15,516
· Transportation: $257 to 690
For the Certified Wedding Planner, here are the estimates for the range of services you provide to your clients.
· “Day Of” Coordination: $500 to $3,000
· Month-of-Direction: $1,200 to $2,150
· Full Service Wedding Coordination: $2,500 to $6,500
· A La Carte Services: $55 to $150 per hour
Additionally, Shane McMurray, CEO and founder of The Wedding Report, writes that “despite the credit crunch, the wedding industry remains steady. Most business reporting sales are good with consumer spending remaining steady. Businesses are also reporting that the number of couples getting married remains steady, three month sales expectations are good, but business cost continues to increase.”
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4 comments:
"Love conquers all" is definitely good news for the Certified Wedding Planning (CWP). However, in times like these it is even more important that the CWP be well versed in the different types of wedding ceremonies and brides. The educated CWP will be able to marry the couple's vision with their budget regardless of the ceremony type or style of the bride.
This was good information to post. Helped me gain a current understanding of the state of the industry.
I agree. It does seem that "Love conquers all"... or is it that a bride's idea of what her ideal wedding will be, finds a way. I'm sure couples getting married during these times are pulling their resources so their "special day" does not sacrifice. Makes total sense to me.
I've been in the advertising automotive field for the last 15 years. I believe everything happens for a reason. Im currently underway to receive my certification to become a wedding planner. Something I have always wanted to pursue. Glad to hear the industry is holding strong..."Love does conquer all". Wish me luck in my second career.
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