Leila San JoseSep 27, 20222 min readWEEK 2: Research & Questions3 Questions to the universe:How hard is it now to find a perfect wedding dress after thepandemic?How have people found specific dress styles to find something thatflatters their body type?How many people are finding wedding dress shopping stressful?QUESTION 1Why/how is the wedding industry so huge?After pandemic, the celebratory demand is colliding with supply chainbacklogs, labor shortages, and inflation.Wedding vendors are reporting a flood of new inquiries for spring andsummer 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-updesire 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 fromChina, where new coronavirus outbreaks have shut down entire cities.“Wedding vendors tend to be the smaller mom-and-pops that didn’tmake it through covid.Wedding Services Market to Reach $414.2Bn, Globally, by 2030 at 4.8%CAGR: Allied Market ResearchQUESTION 2How many couples/people are currently engaged?Overall, the trend shows a global decline – but only a relatively smallone, from 69% in 1970 to 64% projected for 2020. At any given point inthe last five decades, around two-thirds of all women were married orcohabitated. There are differences between regions.Let’s break that down: On average, 1,825,743 couples become engagedeach year, and that means 282,900 of those proposals happen inDecember.2022. Roughly 2.5 million weddings are expected to happen this year,the most since 1984, according to the Wedding Report, a trade groupthat gathered its data through a survey of vendors and consumers.A majority of the planned 2022 celebrations are rescheduled eventsfrom the last two years.Shane McMurray, the Wedding Report’s founder, has a tip. “If you’regoing to go through with a wedding in 2022, be patient,” he said. Andfinancially flexible, too, because he anticipates that the average cost ofa wedding in 2021, around $22,000, will rise to just under $25,000.QUESTION 3How many wedding dress companies are there in the world?The global wedding wear market size was estimated at USD 61.59billion in 2019 and is expected to reach USD 65.04 billion in 2020.Women are increasingly becoming fashion-conscious owing tothe advent of e-commerce, social media influencers, and fashionmagazines.The global market is highly penetrated and competitive with globalplayers engaging in product innovation strategies. Major designers arefocusing on improving their global footprints by entering into foreignmarkets.RESOURCES FOR QUESTIONS:https://www.washingtonpost.com/business/2022/04/10/wedding-boom-covidshortages/https://www.nytimes.com/2022/02/04/fashion/weddings/wedding-boom-year.htmlhttps://www.prnewswire.com/news-releases/wedding-services-market-to-reach-414-2bn-globally-by-2030-at-4-8-cagr-allied-market-research-301518856.htmlhttps://www.forbes.com/sites/tanyaklich/2022/02/14/a-wedding-boom-isexpected-in-2022/?sh=1e6326a117c4
3 Questions to the universe:How hard is it now to find a perfect wedding dress after thepandemic?How have people found specific dress styles to find something thatflatters their body type?How many people are finding wedding dress shopping stressful?QUESTION 1Why/how is the wedding industry so huge?After pandemic, the celebratory demand is colliding with supply chainbacklogs, labor shortages, and inflation.Wedding vendors are reporting a flood of new inquiries for spring andsummer 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-updesire 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 fromChina, where new coronavirus outbreaks have shut down entire cities.“Wedding vendors tend to be the smaller mom-and-pops that didn’tmake it through covid.Wedding Services Market to Reach $414.2Bn, Globally, by 2030 at 4.8%CAGR: Allied Market ResearchQUESTION 2How many couples/people are currently engaged?Overall, the trend shows a global decline – but only a relatively smallone, from 69% in 1970 to 64% projected for 2020. At any given point inthe last five decades, around two-thirds of all women were married orcohabitated. There are differences between regions.Let’s break that down: On average, 1,825,743 couples become engagedeach year, and that means 282,900 of those proposals happen inDecember.2022. Roughly 2.5 million weddings are expected to happen this year,the most since 1984, according to the Wedding Report, a trade groupthat gathered its data through a survey of vendors and consumers.A majority of the planned 2022 celebrations are rescheduled eventsfrom the last two years.Shane McMurray, the Wedding Report’s founder, has a tip. “If you’regoing to go through with a wedding in 2022, be patient,” he said. Andfinancially flexible, too, because he anticipates that the average cost ofa wedding in 2021, around $22,000, will rise to just under $25,000.QUESTION 3How many wedding dress companies are there in the world?The global wedding wear market size was estimated at USD 61.59billion in 2019 and is expected to reach USD 65.04 billion in 2020.Women are increasingly becoming fashion-conscious owing tothe advent of e-commerce, social media influencers, and fashionmagazines.The global market is highly penetrated and competitive with globalplayers engaging in product innovation strategies. Major designers arefocusing on improving their global footprints by entering into foreignmarkets.RESOURCES FOR QUESTIONS:https://www.washingtonpost.com/business/2022/04/10/wedding-boom-covidshortages/https://www.nytimes.com/2022/02/04/fashion/weddings/wedding-boom-year.htmlhttps://www.prnewswire.com/news-releases/wedding-services-market-to-reach-414-2bn-globally-by-2030-at-4-8-cagr-allied-market-research-301518856.htmlhttps://www.forbes.com/sites/tanyaklich/2022/02/14/a-wedding-boom-isexpected-in-2022/?sh=1e6326a117c4