Thursday, October 20, 2011
Budgeting Hurts the Bridal Industry
When women were little girls, they always dreamed of their perfectly made wedding gown. But in todays economy, budgeting and the less forgiving economy have made many couple's dream weddings not quite what was expected. In many cases, couples who may be expecting a new baby would need to keep baby's best intrest in mind as well. The trade off of a dream wedding or a cute ducky lined wall paper for a baby room are decisions many are having to make. A survey taken by the National Association of Catering Executives concluded that 48% of people polled said that they were spending less than they would have expected on their wedding. While affluent Americans have shown little change in the amount spent on weddings, budgeting families are now looking for less costly options. Destination weddings are no longer as popular, and a custom made dress is not always an option for these spending friendly families. This has really influenced the way Bridal companies have been marketing goods. Less expensive lines have come out, Vera Wang's "Lavender Label" is a cheaper alternative to the usual four to five figure prices of her luxury line. These prices appeal to more consumers, and more units can be sold. Many other bridal companies have followed the trend: A budeget line of gowns. While weddings are always happening, companies are still coming up with many creative ideas to keep their products in demand.