Did you know that the average cost for a wedding is around $20,000 USD ? Sounds crazy scary high.
Here are some recent wedding industry statistics:
Average Wedding Cost dips another 12% in Q1/2009
Results from Quarter 1, 2009 cost collection surveys show that the average cost of a wedding dips another 12% from $21,814 (2008) to $19,219 (Q1/09). The three biggest factors driving the decrease;
1) Decrease in demand for products and services
2) Couples choosing to marry via JP or non-traditional means
3) Consolidation of ceremony and reception to same location with couples choosing to bypass the reception big four (4), (Location, Food, Bar, Rentals)
Demand for Engagement Videographer, Consultant Month-of-Direction and Motorcycle Rental dropped more than 50%. Demand for Reception Rentals (Tent, Table, Chairs, Etc.), Reception Bar Service, Consultant For Getting Started, Reception Food Service, DJ at ceremony, Reception Location, Wedding Videographer, Watch for Bride, Band at reception, and Table or Place Cards dropped more than 25%. Couples choosing to marry via JP increased by 60%. Honeymoon Luggage, Honeymoon Tours & Shows, Thank You Cards, and Attire Accessories demand increased more than 25%.
Follow up:
Spending for Reception Rentals (Tent, Table, Chairs, Etc.), Ordained Friend, Family Member, Ring Pillow or Box, and Anklet fell by more than 20%.
The Good News… Spending for some items is on the increase; Band at ceremony, Reception Table Centerpieces, Accessories, Musician/s at reception, Wedding Dress Preservation, Band at reception, Engagement Party, Luggage, Tours & Shows, Camera, Video Camera, Spa Treatments, Day-of-Coordinator, Thank You Cards, and Bachelor Party increased by more than 25%.
How are you getting creative to put a lid on the cost of a wedding?
Brides considering cutting budget due to economy
No, we are not cutting our budge 33.4%
Yes, by at least 10% 15.3%
Yes, by 10 to 20% 18.1%
Yes, by 20 to 30% 13.2%
Yes, by 30 to 40% 8.7%
Yes, by 40 to 50% 5.6%
Yes, by 50% or more 5.7%
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