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picture1_Report Ppt 69785 | Wedding Services18


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Report Ppt 69785 | Wedding Services18

icon picture PPTX Filetype Power Point PPTX | Posted on 29 Aug 2022 | 3 years ago
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      Wedding Bells Blues
     Data from The Wedding Report seems to 
       support the trend of fewer marriages, as the 
       total number decreased from 2.21 million during 
       2016 to 2.18 million during 2017.
     In addition, total 2017 wedding industry sales 
       were $56.3 billion, a 2.6% decrease from 2016. 
       Unsurprisingly, therefore, The Wedding Report 
       stated the average wedding cost for 2017 was 
       $25,764, or a 3.5% decrease from 2016’s 
       average of $26,720.
     The Knot reported in its 2017 Real Wedding 
       Study the average cost of a wedding was 
       $33,391, a 5.5% decrease. A major reason may 
       be fewer formal weddings, from 20% during 
       2009 to 16% during 2017.
            st
      The 21  Century 
      Wedding Couple
     As has been the case for a number of years, the 
      average marrying age continues to be 
      approximately 30. The Knot reports brides, 29.2 
      years, and grooms, 30.9 years, while 
      WeddingWire’s 2018 Newlywed Report states 
      average ages of 31 and 33, respectively.
     WeddingWire’s 2018 Newlywed Report also 
      states 25% of couples met online, 54% dated 
      less than 2 years and 70% changed their name 
      to their partner’s.
     During 2017, the average age of African 
      American wedding couples was 35, the most of 
      any of the major ethnic groups while the largest 
      percentage of couples who were living with their 
      partner prior to the wedding were members of 
      the LGBTQ community, at 85%.
      The Nerve-Wracking Proposal
     Millennials (presumably the men, primarily) put 
       plenty of pressure on themselves, as 72% think 
       their proposal should be highly unique and the 
       same percentage (somewhat surprisingly) ask for 
       parents’ blessing.
     Additional pressure could be experienced, 
       because 75% of Millennials start their wedding 
       planning before they propose, 68% plan the 
       proposal in advance and 82% honor the very-old 
       tradition of kneeling.
     According to WeddingWire’s 2018 Newlywed 
       Report, December continues to be the favorite 
       month for proposing, with Christmas Day the #1 
       day of the year. May and July are the second 
       favorite months, at 9% each.
      “With this Ring…”
     Unsurprisingly, a diamond was the most-popular 
       female engagement ring style during 2017, at 
       74%, according to Weddingwire, with a halo 
       setting, 53%; 1 to 2 carats, 50%; and a round-
       brilliant shape, 23%. 
     GemFind, a jewelry industry marketing firm, 
       compiled more than 1.2 million data points from 
       online searches, which support the Weddingwire 
       findings: a round diamond was the most-popular 
       shape at 1.00 to 1.25 carats and a color of G 
       clarity VS2.
     The three primary sources for this Profiler 
       reported significantly different average costs for 
       an engagement ring: The Wedding Report, 
       $3,402; Weddingwire, $5,000; and The Knot, 
       $5,764.
      The Cost in Time and 
      Money to Plan a Wedding
     The Weddingwire 2018 Newlywed Report 
       indicates a continuing shift from the traditional 
       June, or summer, wedding to the fall, with 38% of 
       2017 weddings during that season. Summer was 
       second, at 30%, spring third, at 23%, and winter a 
       distant fourth, at 9%.
     Couples told Weddingwire that their top-5 major 
       wedding planning challenges were determining the 
       budget and number of guests, making decisions, 
       accounting for expenses, maintaining the planning 
       calendar and finding vendors.
     Couples seemingly don’t estimate their wedding 
       budget very well, as Weddingwire reported 42% 
       underestimate the costs; venue and catering 
       accounted for 34% of their budgets; and parents 
       paid for all of 20% of Millennials’ weddings.
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