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 - Starting a New Business Chapter
Barriers to entry have declined drastically in the past five years with the advent of inexpensive targeted marketing options online, such as Facebook and Pinterest. While vendors used to rely on expensive advertising in local and national magazines in order to attract clients, they now have a plethora of low-price options to use. The decreased cost of reaching the consumer has allowed many small businesses to enter into the industry.
Existing vendors still benefit from reviews and word-of-mouth recommendations. However, the wide variety of services and markets makes it possible for new operators to start out, albeit with a much smaller consumer base... purchase to read more