Party on: Climbing corporate profit and disposable income will benefit industry revenue

The Party and Event Planners industry depends on the willingness of households and businesses to spend money on social gatherings. During the first half of the five-year period, improving business sentiment and consumer confidence boosted demand for event planners from both the household and corporate markets. During the latter half of the five-year period, however, business sentiment leveled off and corporations across various sectors turned away from holding office holiday parties and other catered social events. Nonetheless, strong demand for event planners from the household market has helped buoy industry performance. Over the next five years, event and party planners are expected to continue performing well...purchase to read more.

Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 12-17
3.9%
Forecast Growth 17-22
Profit
Employment
134,055
Businesses
127,296
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Improving business sentiment and consumer confidence boosted demand from both the household and corporate markets
  • A declining marriage rate has decreased demand for wedding planning services
  • As more employees join the workforce, businesses will demand larger venues and more amenities
  • Industry Report - Industry SWOT Analysis Chapter

    The Party and Event Planners industry is in the mature phase of its life cycle, indicated by well-defined service offerings and client groups. IBISWorld forecasts that industry value added (IVA) will grow at an annualized rate of 3.8% over the 10 years to 2022. In contrast, GDP is expected to grow an annualized 2.0% during the same period. While the industry has exhibited higher growth than the overall economy -- due in large part to the drastic declines in IVA immediately prior to the current 10-year period -- it remains in the mature stage of its life cycle due to a steady growth in total establishments, clearly segmented service segments and slow rate of technological change.Over the 10 years to 2022, the number of industry enterprises is expected to grow an annualized 1.5% t...purchase to read more.

    Additional Insights for the Party & Event Planners Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Party & Event Planners Industry are

  • Having a high prior success rate (including completed prior contracts)
  • Access to a highly skilled workforce
  • Ability to vary services to suit different needs
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Per capita disposable income in the Party & Event Planners industry impact industry performance..

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    What's in this report

    What is the Party & Event Planners Industry?

    This industry is composed of independent companies and individuals that organize parties, weddings, corporate dinners and other social gatherings on behalf of households, businesses and nonprofits. This industry does not include companies that organize conventions, trade shows and sporting events, nor does it include the internal event planning departments of hotels, conference centers and recreational facilities.

    Industry Products
  • Weddings
  • Birthday parties
  • Corporate social events
  • Industry Activities
  • Organizing corporate fundraisers
  • Organizing corporate holiday parties
  • Organizing weddings
  • Organizing birthday parties
  • Organizing religious and other social events
  • Organizing networking and fundraising events
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Per capita disposable income
  • Marriage rate
  • Time spent on leisure and sports

  • Current Performance
  • Corporate and household clients
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Corporate parties
  • Personal events
  • Table: Party & Event Planners Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Party & Event Planners Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Management of Companies and Enterprises
  • Consumers

  • Key Selling Industries
  • Food Service Contractors
  • Hotels & Motels
  • Interior Designers
  • Musical Groups & Artists
  • Photography

  • Products & Services
  • Corporate social events
  • Weddings
  • Birthday parties
  • Other
  • Chart: Party & Event Planners Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Businesses
  • Households in the highest income quintile
  • Households in the fourth income quintile
  • Households in the third income quintile
  • Other
  • Households in the second income quintile
  • Households in the lowest income quintile
  • Chart: Major Market Segmentation for the Party & Event Planners Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases and marketing
  • Other expenses
  • Chart: Cost Structure Benchmarking – Sector vs Party & Event Planners

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Party & Event Planners 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 Party & Event Planners 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 Party & Event Planners Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Corporate Profit (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Audiovisual Equipment
  • Stage equipment (e.g. speakers or projectors) used to present material (e.g. a slideshow or music)
  • Caterer
  • A foodservice company hired to provide food and beverage service for an event
  • Theme Party
  • A social gathering organized around a single theme, such as a costume party.
  • What Our Customers Say

    Why buy this report?

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    IBISWorld industry market research reports enable you to:
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    • Identify threats and opportunities
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    This report on Party & Event Planners:
    • 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 Party & Event Planners 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 Party & Event Planners, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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