Tying the knot: Higher consumer spending power will benefit the industry

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...read more.

Industry Statistics & Market Size
Revenue
$76bn
Annual Growth 12-17
2.8%
Forecast Growth 17-22
Profit
Employment
1.2m
Businesses
315,844
Market Share of Companies
There are no companies with a dominant market share in this industry
What Our Customers Say

Industry Threats & Opportunities

  • Higher incomes and larger savings will enable couples to spend more on weddings
  • Many couples save money with destination weddings
  • Longer engagements and cohabitation will continue to delay nuptials
  • Industry Report - Industry Locations Chapter

    Most weddings, with the exception of destination weddings, occur close to home for the bride or groom. Consequently, establishments in this industry are spread similarly to the US population. There are also a few underlying trends that affect the marriage rate in each state. For instance, states with a higher population in the primary demographic for marriage have the most weddings per capita; additionally, people in urban centers are less traditional and more mobile, resulting in fewer marriages per capita in high-density areas.In 2017, IBISWorld estimates that the Southeast has the highest concentration of industry establishments with 23.9%. Florida holds the fourth-highest concentration of wedding service establishments, with 6.3% of the total. The...purchase to read more.

    Additional Insights for the Wedding Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Wedding Services Industry are

  • Provide services to high income individuals
  • Having a good reputation
  • Ability to vary services to suit different needs
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Marriage rate in the Wedding Services industry impact industry performance..

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    What is the Wedding Services Industry?

    This industry is broadly defined to include wedding day service providers, apparel retailers and venues. Wedding coordinators are also included as they carry many responsibilities on the day of the event. The industry does not include honeymoon expenses.

    Industry Products
  • Ceremony and reception venues
  • Food and drink services
  • Attire and accessories
  • Photography
  • Flowers
  • Coordinators
  • Industry Activities
  • Providing wedding planning
  • Providing ceremony and reception hosting
  • Providing wedding catering
  • Providing wedding apparel retailing
  • Providing wedding photography
  • Providing flower arranging
  • Providing jewelry design and retailing
  • Providing town car and limousine rental
  • Providing live or recorded music performances
  • Providing hair and make-up application
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Marriage rate
  • Number of adults aged 20 to 64
  • Percentage of services conducted online

  • Current Performance
  • Technology creates competition
  • A big commitment
  • Cutting back
  • Do-it-yourself
  • Chart: Revenue Growth

  • Industry Outlook
  • An aging tradition
  • Time is money
  • Table: Wedding Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Wedding Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Beauty, Cosmetics & Fragrance Stores
  • Camera Stores
  • Car Rental
  • Flower & Nursery Stock Wholesaling
  • Jewelry & Watch Wholesaling
  • Soft Drink, Baked Goods & Other Grocery Wholesaling
  • Truck Rental
  • Warehouse Clubs & Supercenters
  • Wine & Spirits Wholesaling

  • Products & Services
  • Ceremony and reception venues
  • Food and drink services
  • Attire and accessories
  • Other
  • Photography
  • Flowers
  • Coordinators
  • Chart: Wedding Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers aged 25 to 34
  • Consumers aged 35 to 44
  • Consumers under 25
  • Consumers over 45
  • Chart: Major Market Segmentation for the Wedding Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Wedding Services

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Wedding Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Wedding Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Wedding Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Marriage rate (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Destination Wedding
  • A marriage ceremony or reception 200 or more miles away from where the couple lives and at least 80.0% of guests require overnight accommodations.
  • Do-It-Yourself (Diy)
  • A category of customers who complete tasks and projects on their own that would generally be outsourced to a business or service provider.
  • Officiant
  • An officiating priest or minister.
  • Wedding Vendor
  • A company that provides services on the day of the marriage ceremony or reception.
  • Why buy this report?

    The Wedding Services Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Wedding Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Wedding Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Wedding Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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