Wedding Trends and Statistics Report 2017
The wedding industry saw a decrease in the total number of marriages, industry sales, and average wedding costs in 2017 compared to 2016. The average marrying age continues to be around 30, with significant trends in proposal preferences, engagement ring styles, and wedding planning challenges. Millennials put unique pressure on themselves for proposals, with December being the favorite month for proposing. Diamond rings remain the most popular choice. Couples are shifting towards fall weddings and face challenges in budgeting and planning.
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Presentation Transcript
Wedding Bells Blues Data from The Wedding Report seems to support the trend of fewer marriages, as the total number decreased from 2.21 million during 2016 to 2.18 million during 2017. In addition, total 2017 wedding industry sales were $56.3 billion, a 2.6% decrease from 2016. Unsurprisingly, therefore, The Wedding Report stated the average wedding cost for 2017 was $25,764, or a 3.5% decrease from 2016 s average of $26,720. The Knot reported in its 2017 Real Wedding Study the average cost of a wedding was $33,391, a 5.5% decrease. A major reason may be fewer formal weddings, from 20% during 2009 to 16% during 2017.
The 21stCentury Wedding Couple As has been the case for a number of years, the average marrying age continues to be approximately 30. The Knot reports brides, 29.2 years, and grooms, 30.9 years, while WeddingWire s 2018 Newlywed Report states average ages of 31 and 33, respectively. WeddingWire s 2018 Newlywed Report also states 25% of couples met online, 54% dated less than 2 years and 70% changed their name to their partner s. During 2017, the average age of African American wedding couples was 35, the most of any of the major ethnic groups while the largest percentage of couples who were living with their partner prior to the wedding were members of the LGBTQ community, at 85%.
The Nerve-Wracking Proposal Millennials (presumably the men, primarily) put plenty of pressure on themselves, as 72% think their proposal should be highly unique and the same percentage (somewhat surprisingly) ask for parents blessing. Additional pressure could be experienced, because 75% of Millennials start their wedding planning before they propose, 68% plan the proposal in advance and 82% honor the very-old tradition of kneeling. According to WeddingWire s 2018 Newlywed Report, December continues to be the favorite month for proposing, with Christmas Day the #1 day of the year. May and July are the second favorite months, at 9% each.
With this Ring Unsurprisingly, a diamond was the most-popular female engagement ring style during 2017, at 74%, according to Weddingwire, with a halo setting, 53%; 1 to 2 carats, 50%; and a round- brilliant shape, 23%. GemFind, a jewelry industry marketing firm, compiled more than 1.2 million data points from online searches, which support the Weddingwire findings: a round diamond was the most-popular shape at 1.00 to 1.25 carats and a color of G clarity VS2. The three primary sources for this Profiler reported significantly different average costs for an engagement ring: The Wedding Report, $3,402; Weddingwire, $5,000; and The Knot, $5,764.
The Cost in Time and Money to Plan a Wedding The Weddingwire 2018 Newlywed Report indicates a continuing shift from the traditional June, or summer, wedding to the fall, with 38% of 2017 weddings during that season. Summer was second, at 30%, spring third, at 23%, and winter a distant fourth, at 9%. Couples told Weddingwire that their top-5 major wedding planning challenges were determining the budget and number of guests, making decisions, accounting for expenses, maintaining the planning calendar and finding vendors. Couples seemingly don t estimate their wedding budget very well, as Weddingwire reported 42% underestimate the costs; venue and catering accounted for 34% of their budgets; and parents paid for all of 20% of Millennials weddings.
Advertising Strategies Wedding planners may want to advertise/promote their services to men as well as couples to capture more of the market of those who begin to plan their weddings before the formal proposal. Restaurants and party facilities can consider developing and advertising a post-proposal celebration package for the couple and their family members and friends, offering a discount if they book their rehearsal dinner there too. Photographers/videographers may have an opportunity to offer men, specifically, and/or the couple photography/videography services of the proposal, since many men want a unique proposal setting and many want the proposal secretly photographed/recorded.
New Media Strategies With approximately 30% of engagement ring purchases made online, brick-and-mortar jewelers must aggressively use their Website and social media pages to display inventory and make it easy for couples to buy online and pick up their rings in the store. With more couples preferring a unique, unconventional location for their wedding/reception, historic homes, wineries and rural settings, such as farms and ranches, should promote their locations with social media content, including couples testimonials and videos. Wedding dress shops and men s clothing stores and tuxedo rental services may want to highlight less-traditional apparel with photos and video posts on their social media pages to appeal to the increasing number of couples who do not want formal/black-tie weddings.
