Industry Analysis & Industry Trends
Over the past five years, many economic and consumer trends acted against the Wedding Services industry. High unemployment reduced budgets for weddings and led to postponed nuptials; many individuals returned to school during the downturn. In addition, longer engagements, cohabitation before marriage and a higher average marriage age all became more acceptable, pushing the marriage rate down. Although some of these trends will linger, nuptials that were postponed will finally be planned and consumer spending on weddings will grow... purchase to read more
Industry Report - Industry Products Chapter
The reception segment is expected to comprise 55.4% of wedding services spending in. Catering and other food services are expected to be 21.1% of the average wedding budget, while venue fees will be about 34.3%. The line between food services and venue is blurred in some instances, contributing a heavier weight toward the venue segment because some venues, such as restaurants, also provide food services. The venue segment primarily includes hotels, country clubs, restaurants and religious establishments. Meanwhile, food service providers are mostly caterers.
Due to continued recovery, spending was lower at the start of the five-year period... purchase to read more