I have two rather different takes on what brides are saying this month; the annual survey from David’s bridal and a discussion on the blog Bowie Bride. The former is numbers and trend and the later is an eye opening laugh fest of brides take on “Say Yes To the Dress.” So yes, both have a loose connection to bridal gowns but they are completely different in point of view and tone.
Before I dish the dirt, a few words about surveys and blog comments, by their very nature, both are skewed. You can, however, gain some insight by reading deeply into them and not merely taking them as gospel.
Polls are created by humans that bring their own preconceptions to the table. Those polled, especially when the poll is done through a business, are already a part of that business’ target market. If the same poll was taken using only ladies that bought or shopped for their gown at high end couture bridal salons then I suspect that the answers would have been quite different.
As for blog comments, unless a post goes viral, the comments are skewed by the fact that the commenter’s tend to think like the author of the original post. To understand where the comments are coming from, you must read enough of the blog to understand its tone and outlook. In the case of Bowie Bride, they tend to be non-traditional and outspoken.
Ok, let’s get the numbers out of the way first. This is from a survey released by David’s Bridal.
The methodology: (quoting now)
“This Internet survey was conducted by Infosurv, Inc. from December 3 – 8, 2009. A total of 500 surveys were completed among a national panel of women (ages 18 – 35) who were recently engaged or married. This study has a margin of error of plus or minus 4.3% at the 95% confidence level.”
You can read the entire release here.
Now for the takeaways.
“In 2009, three-quarters (75%) of respondents adjusted their budgets, however this year only 68% of engaged couples say their bottom-line has decreased. In addition, more than half (54%) of today’s brides revealed they do not plan to spend more than $25,000 on their wedding day, and the key to bringing that dream day to life is keeping priorities in check.”
My question is did the second group set lower budgets to begin with while the former were blindsided by the economy and had to readjust mid-planning? That $25,000 is actually a bit higher than what the Wedding Report claims was spent in 2009.
“Couples spent $19,581 in 2009 compared to $21,814 in 2008, a 10.2% decline.”
My guess is that it has to do with the way the survey was worded. Most likely the respondents were given a range of budgets to choose from, with $25k being closest to their true budget. Remember also with polls like these, there will be a few very high budgets that will skew the average. It’s the old joke : Bill Gates walks into a bar, suddenly the average net worth of all of the bar patrons skyrockets to over a million.
Here is the real meat of the release:
- Budget Matters: Of the 68% of brides who adjusted their wedding budget:
o More than half (55%) cut up to a quarter from their total spend.
o 14 percent say they will slash their budget in half.
o 5 percent will have to cut it by more than three-quarters.
- Save Me the Money: Almost one-third (30%) of respondents plan to spend less than $10,000 on their big day, while only 22% have a total wedding budget over $50,000.
- Cutting Cost Corners: Almost half (46%) of brides-to-be said they’d cut their guest list and 39% said they will likely spend less on the venue/location. 39% also indicated the wedding planner would get the boot.
We will continue to see guest list shrink. That bit about them saving on their venue backs up the word I have been hearing on the street. Brides are waiting much longer to book a venue and many more that usual are opting for a wedding at a private residence.
I have also been hearing a lot of rumbling in the wedding planning community. This seems to back that up also. I believe this “39% also indicated the wedding planner would get the boot,” will have a greater effect on planners in the upper-mid to low end market. Those in the high end and luxury market should continue to thrive. Same will go for those that cater to brides on a high-powered career track.
In my opinion this finding is the best forecaster of where we are going this year:
“Last year’s survey revealed that other than their wedding, 77% of recently engaged couples said their top economic priority was to pay off debt. This year, barely one in five (19%) ranked this as a leading concern. Today’s brides seem to be happily looking to the future, opting instead to save for a down payment on a home (24%) and prepare for a family (21%).”
Here is what I take away from the above finding. Last year they were scared, this year they are getting on with the business of moving forward. Our couples are more optimistic about the future; they are thinking more of marriage and family than merely surviving. I have the feeling that going forward, spending will begin to tick up, but not yet to the extent it was a few years ago.
Gen Y was woken up by the recent economic downturn. Their priorities have been adjusted. Look for weddings to be more about meaning than ostentatious displays even as the spending ticks upward. Couple will start finding room in their budget for things that have meaning beyond flash.
Now how about a Laugh?
I am sure you are familiar with the hit show”Say Yes To The Dress” that showcases the trials and tribulations of the famous Kleinfeld’s . I ran across a thread recently on the blog Bowie Bride discussing the show. Funny.
If you want to know how real brides feel about the show and the salon, just follow the link and read the thread and all the comments.
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