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Q: wedding industry ( Answered 5 out of 5 stars,   0 Comments )
Question  
Subject: wedding industry
Category: Business and Money
Asked by: janyce-ga
List Price: $50.00
Posted: 28 Oct 2006 10:32 PDT
Expires: 27 Nov 2006 09:32 PST
Question ID: 777801
In sales dollars, how big is the wedding industry in terms of product
and services sold ?
Answer  
Subject: Re: wedding industry
Answered By: umiat-ga on 28 Oct 2006 14:00 PDT
Rated:5 out of 5 stars
 
Hello, janyce-ga! 

 An accurate number is hard to find since the wedding industry
encompasses so many goods and services. Here are the most recent, (and
often diverse) figures from my research.


MARKET SIZE
============

From the WeddingBrand Report
http://www.weddingbrand.com/wedding-report.html

"The 2006 U.S. Wedding Industry is expecting slow growth with 2.2
Million estimated weddings and an average estimated wedding  cost of
$26,400.

"The market value for items directly associated with weddings could
reach $58.5 Billion. Including direct and indirect items the total
market value could reach $139.8 Billion."

"While this is a 2.97% decrease in the number of weddings and a 17.86%
increase in wedding cost since 2002, weddings for 2006 will increase
about 3% over 2005 and cost will increase about 2.3% over already high
2005 prices."

"Consumers should expect to pay on average $655 for their Wedding
Cake, $1,570 for their Wedding Photography Fees, $655 for their
Wedding Invitations, and $2,070 for their Wedding Flowers &
Decorations."

Get the full Wedding Statistics & 2006 Wedding Market Estimates Report.... 


==


"The 2006 U.S. wedding market is expecting slow growth with 2.2
million estimated weddings, an average wedding cost of $26,400, and a
market value of $58.5 billion."
http://pdfserver.emediawire.com/pdfdownload/301497/pr.pdf

(PRWEB) October 25, 2005 -- According to a new report published by the
wedding report,   the 2006 U.S. wedding market is expecting slow
growth with 2.2 million estimated weddings, an average wedding cost of
$26,400, and a market value of $58.5 billion.

While this is a 2.97% decrease in the number of weddings and a 17.86%
increase in wedding cost since 2002, weddings for 2006 will increase
about 3% over 2005 and cost will increase about 2.3% over already high
2005 prices.

Consumers should expect to pay on average $655 for their wedding cake,
$1,570 for their wedding photography fees, $655 for their wedding
invitations, and $2,070 for their wedding flowers and decorations.


==


From "Statistics for the Wedding Industry." 
http://www.afwpi.com/wedstats.html
 
"2,226,000 weddings occurred in the US from June 2004 to June 2005
(CDC) spending approximately $85 Billion (Not counting the honeymoon!)
The number of weddings for this period Dropped by over 16,000 from the
2003-2004 season. If you wish to include all the items a bride will
purchase 6 months prior to 6 months after her wedding the total would
exceed the 120 Billion dollar mark."


==


From Forbes magazine - 2004
http://www.forbes.com/2004/04/05/cx_al_0405gaymarriage_print.html

"From caterers to jewelers to travel agents, the $70 billion-per-year
U.S. wedding industry embraces a wide array of sectors."


==


"Nationally, the 2002 total market size for the wedding industry was
over $80 Billion Dollars spread across a number of businesses that
service the industry...National market numbers for 2003 are reported
to be $ 110,000.00 Billion Dollars, with the average wedding budget
per wedding $15,000.00 - $20,000.00."
http://www.lawedd.org/newsletter.html


==



With more than 2.5 million weddings occurring each year in the United
States, the bridal industry continues to grow.

Below are some of the most noteworthy facts about the wedding industry:

 $72 billion/year is spent on weddings in the U.S
 2.5 million couples per year marry in the U.S
 $20,000 is the average wedding budget in the U.S
 $19 billion/year is spent on wedding gift registries
 $8 billion/year is spent on honeymoons
 $3,657 is the average honeymoon budget
 99% of newlyweds take a honeymoon
 25 is the average age of a bride; 27 of a groom
 $51,591 is the average House hold income of newly married couples
 June is the most popular month for weddings, then August followed by September
  and October
  of all brides will use a wedding consultant or wedding day coordinator.

Statistics: The Knot, National Center for Health Statistics, 1998 U.S.
Census Bureau, and BRIDE?S Magazine Reader Study 2001
http://www.before-ido.com/sponsor_packet.pdf 



EXPENDITURES
=============


From "WEDDING INDUSTRY STATISTICS -  WHERE THE MONEY GOES."
http://www.sellmoreweddings.com/where_the_money_goes.html

 The average cost of a wedding now exceeds $20,000.00. 

 Here is a ballpark summary of where the money goes based on a variety
of ongoing research and discussions with wedding professionals.

	Reception Site 		     $8,000
	Engagement Ring 	     $3,000
	Honeymoon 		     $3,000
	Wedding Rings 		     $1,100
	Photography & Video 	     $2,500
	Rehearsal Dinner 	     $800
	Bridal Gown 		     $800
	Bridal Accessories 	     $200
	Bridesmaids 		     $900
	Flowers 		     $850
	Music 		             $750 - 2,500
	Limousines / Transportation  $450
	Stationery / Invitations     $400
	Formalwear 		     $500
	Clergy/Chapel 		     $250




ONLINE WEDDING MARKET
=======================


"2006 online wedding market worth more than $7.9 Billion survey results show."
http://www.tradebit.com/filedetail.php/729157

"Recent results from our wedding survey show that 77% of couples will
use the Internet to help plan their wedding. As related to their
engagement, wedding, honeymoon, and time after, 43% will use the
Internet to research products and services, while 13% will purchase
products and services. These results are based on a sample of 499
surveys."

"We estimated 2,271,910 weddings with an average wedding cost of
$26,800 for 2006. 976,921 (43%) of those weddings will research
products and services online while 295,348 (13%) weddings will buy
products and services online. We believe this makes the online wedding
market worth over $7.9 billion."

"Topping the research online list; Wedding Cake (60%), Wedding Dress
(58%), and Bride Bouquet (58%). While New or Used Car (25%), Financial
Services (27%), and Insurance (29%) appeared at the bottom of the
research online list."

"Topping the buy online list; Wedding Favors (32%), Attendant Gifts
(31%), and Invitations & Reply Cards (29%). While New or Used Car
(3%), A Home (4%), Engagement Dinner (4%) appeared at the bottom of
the buy online list."


   (The full report can be purchased for $29.95)


============


"Wedding Statistics & 2006 Wedding Market; 2.3 Million Weddings and
Wedding Cost of $26,800." http://www.tradebit.com/filedetail.php/38512

SUMMARY:

"Compiled 12/2005, the 2006 U.S. wedding market can expect a 1%
increase in the number of weddings over 2005 with 2,271,910 estimated
weddings. Number of weddings could reach 2,268,500 by 2010. Expect a
4% increase in wedding cost with an estimated cost of $26,800.00.
Wedding cost could reach $31,400 by 2010."

"In 2006 consumers will spend $1,841.00 on Wedding Attire, $2,337.00
on their Wedding Ceremony, $1,104.00 on Wedding Favors & Gifts,
$1,136.00 on Wedding Flowers, $1,739.00 on Wedding Jewelry, $922.00 on
Wedding Music, $2,659.00 on Wedding Photography & Video, $13,692.00 on
their Wedding Reception, $809.00 on Wedding Stationery, and $563.00 on
Wedding Transportation."



ADDITIONAL INFORMATION
=======================

You might want to look over the following sites:
 
 Wedding Industry Research
 http://www.loc.gov/rr/business/wedding/


 Bridal Market Overview
 http://www.nmoa.org/articles/dmnews/bridalandweddingmarketoverview.htm


==



I hope this information is helpful!


Sincerely,

umiat

wedding industry market
dollar size of wedding industry
wedding industry billion
average amount spent on weddings each year
janyce-ga rated this answer:5 out of 5 stars

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