Before Less Wedding Dress Stress project was chosen, I did some research and brainstormed other ideas. As a result, I pursued the Less Wedding Dress Stress Project.
Q1: Why/how is the wedding industry so huge?
After pandemic, the celebratory demand is colliding with supply chain
backlogs, labor shortages, and inflation
Wedding vendors are reporting a flood of new inquiries for spring and
summer weddings as couples.
Americans are expected to host nearly 2.5 million weddings this year,
up about 30 percent from last year and the most in nearly four decades,
according to the Wedding Report, a national trade group.
People had to give up key rituals during covid, and now that pent-up
desire is back and possibly going haywire.”
Average spending on weddings rose 25 percent last year, to more than
$27,000, according to the Wedding Report.
An estimated 80 percent of wedding dresses, for example, come from
China, where new coronavirus outbreaks have shut down entire cities.
“Wedding vendors tend to be the smaller mom-and-pops that didn’t
make it through covid.
Wedding Services Market to Reach $414.2Bn, Globally, by 2030 at 4.8%
CAGR: Allied Market Research
Q2: How many couples/people are currently engaged?
Overall, the trend shows a global decline – but only a relatively small
one, from 69% in 1970 to 64% projected for 2020. At any given point in
the last five decades, around two-thirds of all women were married or
cohabitated. There are differences between regions.
Let’s break that down: On average, 1,825,743 couples become engaged
each year, and that means 282,900 of those proposals happen in
2022. Roughly 2.5 million weddings are expected to happen this year,
the most since 1984, according to the Wedding Report, a trade group
that gathered its data through a survey of vendors and consumers.
A majority of the planned 2022 celebrations are rescheduled events
from the last two years.
Shane McMurray, the Wedding Report’s founder, has a tip. “If you’re
going to go through with a wedding in 2022, be patient,” he said. And
financially flexible, too, because he anticipates that the average cost of
a wedding in 2021, around $22,000, will rise to just under $25,000.
Q3: How many wedding dress companies are there in the world?
The global wedding wear market size was estimated at USD 61.59
billion in 2019 and is expected to reach USD 65.04 billion in 2020.
Women are increasingly becoming fashion-conscious owing to
the advent of e-commerce, social media influencers, and fashion
The global market is highly penetrated and competitive with global
players engaging in product innovation strategies. Major designers are
focusing on improving their global footprints by entering into foreign markets.
Resources for Questions
Dove deeper in research to analyze the competition.
Competitive analysis chart
Analyzed mobile apps and websites of competition and listed the pros and cons for inspiration.