Industry Outlook: Couples continue to hold pricey nuptials regardless of economic depression

“I DO”… Still Spend On the Wedding…

Despite the current economic climate, couples are still rushing to say “I do” – to the tune of approximately $85 billion in 2009. According to The Wedding Report, a leading industry market research publication, even with the ravaged real estate and job markets, the average wedding in the United States still ends up costing more than $30,000. That does not include the engagement ring or honeymoon!

How are people paying? While some lucky individuals still rely on parental funds, most couples are splitting costs and using everything from credit cards to loans to help finance the special day. What is the best way to get the most out of your wedding wallet and maintain nuptial sanity? According to industry publications experts, hire a wedding planner.

“In addition to handling vendors and helping with décor choices, a wedding coordinator can offer real value to a bride,” claims Social Imperium’s Founding Partner, Jewel Clarke. “Most of the time we are playing budget watchdog. Planners usually get wedding services at an industry discount that is passed on to clients. Couples definitely need the help – it’s very easy for wedding costs to go careening out of control.”

Clarke and the event management division of her marketing firm know first hand how solid the wedding market remains. As other event/marketing firms are cutting back, Social Imperium LLC recently opened a satellite office in New York City to support their growing New York, New Jersey and Connecticut markets.

And what are some of the newest wedding trends?

“I’ve seen more brides who are trading traditional white and ivory for blushes and pastels,” said Clarke. “Also, engaged couples are setting unconventional wedding dates. There has been a significant rise in Thursday and Friday events instead of the usual weekend nuptials.”

[Header Photo Credit: Denise Teo for Zanzis Bridal Couture]



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