The Value of the Certified Wedding Planner
Jan 12, 2009 Wedding Planning InstituteWhile in the midst of the engagement season, many brides and grooms are finding it more than necessary to prioritize their wedding budgets. Whether they are slashing guest lists, sharing vows with betrothed friends, bartering their time and skills for venues and services, taking weekend ‘mini-moons’, or turning a Taco Bell into a drive-thru chapel/reception hall, couples are demanding more for less from their Certified Wedding Planners and their wedding vendors.
Taco Bell Wedding Venue
According to The Wedding Report, the median cost of a wedding in 2008 dropped by 24% from the previous year. While wedding budgets in 2007 averaged $28,704, including almost $1,500 spent on wedding planning services, recession concerns drove wedding budgets down to $21,814 for the most recent year. The wedding industry overall, which boasted a market value of over $72 billion just a couple years ago, is estimated to reach just $61.4 billion for 2009.
Batering For Wedding Goods and Services
Meanwhile, as brides use creativity and bargaining to navigate the still unsettling economy, Certified Wedding Planners are poised to play a crucial role in helping squeeze the most value from wedding budgets in the form of vendor discounts and venue deals. Despite the average cost of the overall wedding decreasing dramatically, wedding planners and bridal consultants will be paid more money than ever to help couples match their eager dreams to their meager budgets.
Here are The Wedding Report’s projected earnings for wedding planners in 2009:
|
Certified Wedding Planner Services |
2008 Average Fees |
No. of Weddings |
Market Value |
|
A La Carte Services |
$851 |
132,775 |
$112,991,848 |
|
“Day Of” Coordinator |
$679 |
265,551 |
$180,308,966 |
|
For Getting Started |
$641 |
132,775 |
$85,109,019 |
|
Full Service |
$1,940 |
376,197 |
$729,822,005 |
|
Month-of-Direction |
$995 |
154,905 |
$154,130,087 |
|
Total Market Value |
$1,262,361,925 |
||
Tags: Become a wedding planner, Certified Wedding Planner, Wedding Industry Statistics, Wedding Planning News, Wedding Planning Trends
Posted in Wedding Industry, Wedding Industry News, Wedding Industry Statistics, Wedding Industry Trends, Wedding Planning
January 23rd, 2009 at 8:06 am
In response to your post, I definitely agree that cost has been a huge factor in weddings, especially with the current economic struggles that are affecting everyone. As a almost certified wedding planner, and a bride I completely understand the importance of value and price to 2009 brides and grooms. While some couple are looking only at the $ and trying to figure out how to get the most out of their budget, I would say that is the exception to the rule. Most of this years couples are focusing more on the value rather than the price. Example what is the value difference between a DJ that was $2000 and knocked his price down to $1300 or a DJ that was $1000 and knocked his price down to $900. The importance of personal connection also plays a huge role in the couples evaluation of the value of choosing that vendor. Finding little ways to make a personal connection, and cutting their costs for them will go a long way.
The wedding industry is still an extremely large and profitable business despite the current economic turmoil, however, now more couples are more aware of the value factor, service, and personal connection. They want to get the most out of their money which is completely understandable. I would urge those in the wedding industry to really find ways to make your value increase without a huge price increase.
January 25th, 2009 at 4:02 pm
This is great news for future wedding planners!
February 24th, 2009 at 6:30 pm
[...] It seems that everyone is weighing in on how brides and grooms can realize their wedding day dreams on three-fourths of previous year’s wedding budget averages. [...]