Today’s bride and groom are paying the majority of the wedding cost at 58% total. Then the bride’s parents, groom’s parents, relatives, friends, and other.
Who Pays for the Wedding 2010: – This is based on a 100 index.
|
Bride |
29% |
|
Bride’s parents |
21% |
|
Friend |
2% |
|
Groom |
29% |
|
Groom’s parents |
14% |
|
Relative |
4% |
|
Other |
1% |
Since we know many sources could contribute, we ask brides and grooms to check all that contributed. So the totals will be more than 100% and that’s why we did a 100 index for the above table. Here are the actual amounts from the 2010 cost survey.
In the table below we show specifically who contributed to the ceremony and reception (Venue & Catering) cost in 2008 and in 2010. It is clear that all parties are contributing more to this category, but I wanted you to see specifically that the bride and groom are contributing more.
|
2008 |
2010 |
|
| Bride |
56.5% |
73.5% |
| Bride’s parents |
28.7% |
72.9% |
| Friend |
1.6% |
2.7% |
| Groom |
45.6% |
70.5% |
| Groom’s parents |
9.1% |
39.4% |
| Other |
3.1% |
1.4% |
| Relative |
3.0% |
8.9% |
Source: Proprietary surveys samples collected Jan 2010 to Dec 2010. 2008 Data from 2008 surveys.
What does this mean for your business?
If the bride and groom are contributing more to the cost of their wedding, expect them to become more value focused. Which means you have to show more value in your product or service offering. The definition of value literally is “The regard that something is held to deserve.” I believe that you increase “regard” or value by helping clients and potential clients solve their problems better than anyone else.